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PEL 71

Licence Partners

Chariot Oil & Gas 65%
Azinam 20%
NAMCOR 10%
Ignitus Oil & Gas 5%

Operator

Chariot Oil & Gas

Blocks

Blocks 2312A,B; 2412A(N/2),B(N/2)

Geographical Area

Walvis & Luderitz Basin

Further Information

PEL 71 (Block 2312, 2412A) covers an area of 16801km2 and lies in water depths ranging 500m-3000m. The block is located South of the Wingat-1 & Murombe-1 wells drilled in PEL 23. 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.

The principal drilling candidate, Prospect S is a structural closure formed by differential compaction over a structurally stable volcanic high. This provides a deep focus for migration as well as fault conduits from the mature, oil prone organic rich Aptian source interval, as proven by Murombe-1. This specific play will be tested by a single vertical well to be drilled in Q4 2018, targeting 459mmbbls gross mean prospective resources.

A number of other Upper Cretaceous turbidite dip-closed traps have been identified within the acreage, including 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 older (Albian-Aptian) fan plays, similar to the high porosity Ondongo sands encountered by the Murombe- 1 well.  Lower Cretaceous faulting in places facilitates migration from the proven Aptian source rock.