Derisked our prospects further by purchasing additional G & G, namely the well data of Etosha 5-1 and ST-1 as well as 750 km of 2D seismic lines to tie to our AOIs.
Working Petroleum System ReconAfrica announce drilling results proving a working petroleum system in the Owambo basin, significantly de-risking MEL’s acreage.
Data Integration Report completed by Pioneer and resource estimate numbers are calculated.
Results from passive seismic spectroscopy and remote sensing are available, and in process of combination with existing data, such as conventional seismic and gas shows for the area.
Remote Sensing and Passive Seismic surveys carried out
MEL signs the Petroleum Agreement for blocks 1717 and 1817. PEL 93 is assigned.
1717 and 1817
18,500 km2 = 7,227 mi2
Since October 2018
15% Local partner
10% State oil company
4 years + 2 year ext + 2 year ext
Initial Exploration Period 4 years
to end in October 2022
Minimum work program fulfilled
Minimum financial expenditure met