AziNam announces commencement of 3D seismic survey, offshore Namibia

AziNam Ltd. (“AziNam” or “the Company”), the offshore Namibia focused exploration company, is pleased to announce that a 3D seismic acquisition survey (“the Survey”) has commenced, offshore Namibia.

The Survey is situated inBlocks 2312 & 2412A (the “Central Blocks”) and is being conducted by PGS Geophysical Ltd. (“PGS”). The Survey will cover an area of approximately 2,600km2 and is expected to take approximately 40 days.

The current working interest positions in the Central Blocks, are as follows:

 

Blocks 2312 & 2412A Chariot Oil & Gas 65% (operator)
AziNam 20%
Namcor 10%
Ignitus 5%

 

AziNam Managing Director, David Sturt, commented:

“We are very excited to make further progress on these Blocks following a 2D seismic survey acquired in 2015 which has identified several significant additional leads within the Upper Cretaceous deep water clastic turbidite system. Commencement of the 3D survey, announced today, will enable the partners on the Central Blocks to mature these new leads and further develop its inventory in this highly prolific region.”

 

Contacts:

AziNam Limited www.azinam.com
David Sturt +971 55 191 9808
Vigo Communications www.vigocomms.com
Patrick d’Ancona +44 (0)20 7016 9570
Chris McMahon
Alex Aleksandrov

 

AziNam, the Seacrest Group backed E&P company, holds interests in a total of 6 licences covering c. 67,000km2, across the Walvis and Luderitz basins offshore Namibia, partnering with Tullow Oil, Maurel et Prom, Chariot Oil and Gas and Eco (Atlantic) Oil and Gas.

Namibia is an under-explored oil and gas province with high potential which is gaining increasing industry attention from a number of major oil companies.

A combination of heightened industry interest in the country coupled with recent licensing and exploration success in geologically analogous regions within the South Atlantic margins, including the Falkland Islands, Brazil, South Africa and Angola, has made the region one of the most attractive potential hydrocarbon provinces in the global arena.

Seacrest Capital Group is a leading energy investor specialising in the upstream segment of the oil and gas industry, leveraging its proprietary assets and relationships to build a diversified, global portfolio of regionally focussed oil and gas exploration companies. Since 2011, Seacrest Capital Group has invested in a number of successful new exploration companies in the United Kingdom, Norway, West Africa, Ireland, South East Asia and South America.  As a result of Seacrest’s strong and long-term support, AziNam is ideally positioned to take advantage of and build on further opportunities as they arise in the offshore Namibia regions.

 

Map: AziNam Exploration Licences Offshore Namibia

offshore-Namibia