Monitor Exploration Limited (MEL UK), a United Kingdom-based private company focused on onshore hydrocarbon exploration in Namibia, is pleased to announce a strategic partnership with Somerschield Investments, a private investment vehicle headquartered in Windhoek, Namibia. Somerschield joins MEL Oil & Gas Exploration Namibia (Pty) Ltd (“MEL Namibia”), MEL UK’s Namibian operating subsidiary, as a shareholder and long-term partner.
Under the terms of the agreement, Somerschield will invest up to USD 750,000 through a convertible instrument linked to a future initial public offering (IPO) or farm-out of MEL Namibia’s licence interests.
The proceeds will support MEL Namibia’s ongoing work programme, including the completion of basin and prospectivity studies to select the location of its first exploration well, planned for 2026, within Licence PEL 93 in the central Owambo Basin—one of the world’s last accessible and under-explored, large-scale onshore basins.
In addition, funding will be directed toward early-stage work on MEL’s newly awarded licence in the Nama Basin, Namibia, a region characterised by favourable geology, extensive existing data, and strong hydrocarbon potential.
MEL Namibia is also pleased to announce the appointment of Mr Lazarus Shigwedha, Chairman of Somerschield, to its Board of Directors. Mr Shigwedha is a seasoned investor in the resources sector whose strategic insight and regional expertise are expected to play a vital role in advancing MEL Namibia’s operations and in securing additional funding for its share of the 2026 drilling campaign, conducted in partnership with 88 Energy Ltd on PEL 93.
About Somerschield
Somerschield is a Namibian investment firm dedicated to strategic capital allocation across Africa and beyond. Guided by a commitment to sustainable, long-term value creation, the firm invests across resources, technology, real estate, and luxury experiences—sectors that drive economic growth, foster innovation, and create lasting impact.