|Chariot Oil & Gas||65%|
|Ignitus Oil & Gas||5%|
|Chariot Oil & Gas|
|Walvis & Luderitz Basin|
PEL 71 (Block 2312, 2412A) covers an area of 16,801km2 and lies in water depths ranging 500m-3000m. The block is located South of the Wingat-1 & Murombe-1 wells drilled in PEL 23 (now PEL82). The block is covered by a total of 6100km2 of Geostreamer 3D and 4172km of 2D seismic data. The primary targets consist of Cenomanian-Turonian and Albian deep water clastic systems within closure. These are fed by several large canyons cutting into the upper slope that provide significant stratigraphic upside upon successful drilling of the down dip closures.
Several Upper Cretaceous turbidite dip-closed traps have been identified within the acreage, such as Prospect W, with estimated gross mean prospective resources of 284mmbbls. Additionally, Prospect B, a Cenomanian aged stratigraphic canyon play is estimated to hold 469mmbbls gross mean prospective resources.
PEL 71 also hosts an older (Albian-Aptian) fan play with prospects in both stratigraphic and structural configurations. Reservoir is partially de-risked by the proven presence of the similar-aged Ondongo sands encountered in the nearby Wingat-1 well. Lower Cretaceous faulting facilitates migration from the proven Aptian source rock to the shallower stratigraphic intervals.
In Q4 2018, Prospect S was safely drilled to a total depth of 4,165m. The well was plugged and abandoned. Commercial hydrocarbons were not encountered however, the anticipated stacked target reservoirs were penetrated and the well encountered wet gas shows, indicating the presence of hydrocarbons in the system. The data collected will now be used to further evaluate the prospectivity of the surrounding area and to gain a greater understanding of the adjacent prospects.