London, United Kingdom – Monitor Exploration Limited (“Monitor” or the “Company”) is pleased to announce the completion of its integrated interpretation of recently acquired airborne gravity, magnetic and radiometric survey data, together with our recent 2D and passive seismic and legacy datasets including further 2D seismic, soil gas samples and remote sensing over Petroleum Exploration Licence 93 (“PEL 93”), onshore Namibia.
The interpretation results are positive and materially enhance the Company’s subsurface understanding of the block.
Key Highlights
Lead 9
upgraded to drillable
prospect
Validation
of broader
portfolio
Improved
structural
definition
Integrated interpretation significantly increases confidence in structural closure and trap integrity at Lead 9, now classified as a drill-ready prospect.
Results support the Company’s interpretation of more than 10 additional leads, demonstrating the multi-prospect potential of the licence.
The new dataset provides enhanced imaging of structural closures across the block.
De-risking of exploration inventory
The integrated geological and geophysical approach reduces key uncertainties and supports ongoing prospect maturation beyond structural definition:
The presence of at least one mature source rock has been demonstrated repeatedly by oil and gas shows in the wells drilled by Recon Africa, our near neighbour in the east of the basin who also recently reported an upgraded 75m of log calculated pay in their Kavango-West-1X well, and by legacy geological evidence across the Basin.
Reservoir and seal were identified in both the Mulden and Otavi sections in the etosha-5-1A well, drilled in the west of the basin in 1991. We expect these to continue to the centre of the basin, providing increased prospectivity in PEL93.
Importantly, PEL 93 at the centre of the basin benefits from being correlated to all the positive news emanating from Recon Africa’s activity.
PEL93 also has potential for improved prospectivity relative to the eastern part of the Basin, specifically:
1. The igneous complex underlying the east of the Basin appears to have resulted in degradation of the reservoirs at the Mulden level in both Naingopo-1X and Kavango-West-1X, where sandstones are reported as completely cemented, and possibly at the Otavi, where Recon’s reported 75m of log pay is currently being tested to determine potential commerciality.
PEL 93 lies far from this igneous complex and its degradational effects.
2. Increased Mulden shale content in the centre of the Basin provides both increased probability of seal at this level and further protection of the reservoirs from cementation as the shales reduce the movement of fluids which may damage reservoir properties.
The newly generated prospect maps illustrate the structural configuration of Prospect 9 and surrounding leads, highlighting multiple robust closures across the licence area.
Robin Sutherland comments:
