|Eco Atlantic Oil & Gas||50%|
PEL 34 (Block 2111A & B) lies along the western part of the Walvis Basin adjacent to the Galp/ExxonMobil PEL 82 licence. The Licence covers an area of 5748km2 and lies in water depths ranging 1000m-3500m. It is also located approximately 60km west of the Wingat & Murombe wells drilled in PEL 23.
In 2015 the company acquired 864km2 of Geostreamer 3D Seismic data focused on structurally trapped Cenomanian slope channel complexes which are the primary targets in the block. These channel bodies defined by structural closures range between 5-32km2. These sands display good seismic character and can be tied to the Murombe-1 well, where the laterally equivalent sands have good permeabilities up to 700mD and porosities up to 28%.
The main Northern & Southern Baobab channel Leads in PEL 34 extend across the SE corner of the block and are encased and interbedded within the Cenomanian-Turonian source rocks. Rift-associated faulting in places allow migration through the intervening Albian-Aptian section from the oil mature, organic rich Aptian source interval below, as proven by the Wingat-1 well.
At the Santonian level, the aerially extensive Murgatoyd channel Lead, is part of Santonian channel complexes characterised by low amplitude fill and structural traps defined by differential compaction. This specific play is estimated to hold over 1,700mmbls STOIIP.