{"id":11290,"date":"2021-12-03T11:17:08","date_gmt":"2021-12-03T11:17:08","guid":{"rendered":"https:\/\/www.oilnewskenya.com\/?p=11290"},"modified":"2021-12-03T11:17:08","modified_gmt":"2021-12-03T11:17:08","slug":"namibia-why-pancontinentals-hopes-linger-on-venus-1-graff-1-drilling-results","status":"publish","type":"post","link":"https:\/\/www.oilnewskenya.com\/index.php\/namibia-why-pancontinentals-hopes-linger-on-venus-1-graff-1-drilling-results\/","title":{"rendered":"NAMIBIA: Why PanContinental&#8217;s Hopes Linger on Venus -1, Graff-1 Drilling Results"},"content":{"rendered":"<ul>\n<li><span dir=\"ltr\">French\u00a0<\/span><span dir=\"ltr\">major\u00a0<\/span><span dir=\"ltr\">TotalEnergies\u00a0<\/span><span dir=\"ltr\">has\u00a0<\/span><span dir=\"ltr\">co<\/span><span dir=\"ltr\">mmenced\u00a0<\/span><span dir=\"ltr\">drilling\u00a0<\/span><span dir=\"ltr\">its\u00a0<\/span><span dir=\"ltr\">ultra-deep\u00a0<\/span><span dir=\"ltr\">Venus-1 well in the Orange Basin offshore Namibia<\/span><\/li>\n<li><span dir=\"ltr\">On-trend, Pancontinental has mapped<\/span><span dir=\"ltr\">\u00a0the very large Saturn turbidite\u00a0<\/span><span dir=\"ltr\">complex\u00a0<\/span><span dir=\"ltr\">in\u00a0<\/span><span dir=\"ltr\">PEL\u00a0<\/span><span dir=\"ltr\">87.\u00a0<\/span><span dir=\"ltr\">Saturn\u00a0<\/span><span dir=\"ltr\">is\u00a0<\/span><span dir=\"ltr\">geologically\u00a0<\/span><span dir=\"ltr\">similar\u00a0<\/span><span dir=\"ltr\">to\u00a0<\/span><span dir=\"ltr\">Total\u2019s\u00a0<\/span><span dir=\"ltr\">Venus\u00a0<\/span><span dir=\"ltr\">Prospect<\/span><\/li>\n<li><span dir=\"ltr\">Venus and Saturn overlie the same hi<\/span><span dir=\"ltr\">gh-quality mature Oil Source Rock,\u00a0<\/span><span dir=\"ltr\">and both lie immediately belo<\/span><span dir=\"ltr\">w the major Regional Seal<\/span><\/li>\n<li><span dir=\"ltr\">The Maersk Voyager drillship has co<\/span><span dir=\"ltr\">mmenced Venus drilling in 3,000m of\u00a0<\/span><span dir=\"ltr\">water. Partners in the well are To<\/span><span dir=\"ltr\">talEnergies (40%), Qatar Petroleum\u00a0<\/span><span dir=\"ltr\">(30%), Impact Oil &amp; Gas (20%), NAMCOR (10%)<\/span><\/li>\n<li><span dir=\"ltr\">Shell Exploration &amp; Production is a<\/span><span dir=\"ltr\">lso expected to soon commence the\u00a0<\/span><span dir=\"ltr\">Graff-1\u00a0<\/span><span dir=\"ltr\">well\u00a0<\/span><span dir=\"ltr\">with\u00a0<\/span><span dir=\"ltr\">the\u00a0<\/span><span dir=\"ltr\">drillship\u00a0<\/span><span dir=\"ltr\">En<\/span><span dir=\"ltr\">sco\u00a0<\/span><span dir=\"ltr\">DS-10.\u00a0<\/span><span dir=\"ltr\">Graff-1\u00a0<\/span><span dir=\"ltr\">will\u00a0<\/span><span dir=\"ltr\">test\u00a0<\/span><span dir=\"ltr\">a\u00a0<\/span><span dir=\"ltr\">stratigraphically younger targ<\/span><span dir=\"ltr\">et than Venus and Saturn<\/span><\/li>\n<li><span dir=\"ltr\">Venus-1\u00a0<\/span><span dir=\"ltr\">and\u00a0<\/span><span dir=\"ltr\">Graff-1\u00a0<\/span><span dir=\"ltr\">are\u00a0<\/span><span dir=\"ltr\">on-trend\u00a0<\/span><span dir=\"ltr\">and\u00a0<\/span><span dir=\"ltr\">about\u00a0<\/span><span dir=\"ltr\">130\u00a0<\/span><span dir=\"ltr\">Km\u00a0<\/span><span dir=\"ltr\">south\u00a0<\/span><span dir=\"ltr\">of\u00a0<\/span><span dir=\"ltr\">Pancontinental\u2019s PEL 87 area<\/span><\/li>\n<li><span dir=\"ltr\">Either well could prove the Orange\u00a0<\/span><span dir=\"ltr\">Basin offshore Namibia as a major\u00a0<\/span><span dir=\"ltr\">new oil province<\/span><\/li>\n<\/ul>\n<p><strong>PEL 87 Overview<\/strong><br \/>\nPEL 87 Joint Venture interests arePancontinental Orange Pty Ltd 75% (Operator), Custos Investments (Pty) Ltd 15%, National Petroleum Corporation of Namibia (NAMCOR) 10%.<br \/>\nPancontinental is well-positioned in the Orange Basin offshore Namibia with PEL 87 covering a 10,970 km2 block with significant oil potential in the Saturn turbidite complex that spans more than 2,400km2.<\/p>\n<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-11291\" src=\"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2021\/12\/NAMIBIA-Venus-Graff-Saturn.png?resize=652%2C351&#038;ssl=1\" alt=\"\" width=\"652\" height=\"351\" srcset=\"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2021\/12\/NAMIBIA-Venus-Graff-Saturn.png?w=652&amp;ssl=1 652w, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2021\/12\/NAMIBIA-Venus-Graff-Saturn.png?resize=600%2C323&amp;ssl=1 600w, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2021\/12\/NAMIBIA-Venus-Graff-Saturn.png?resize=300%2C162&amp;ssl=1 300w, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2021\/12\/NAMIBIA-Venus-Graff-Saturn.png?resize=100%2C54&amp;ssl=1 100w\" sizes=\"auto, (max-width: 652px) 100vw, 652px\" \/><br \/>\nPancontinental\u2019s Technical Director, Mr Barry Rushworth commented- \u201cThe delayed Venus-1 well offshore Namibia has now started operations ontrend to Pancontinental&#8217;s PEL 87. The drilling of the Graff-1 well is also expected to follow with the rig currently moving towards the drilling location. The wells are being drilled by Shell and Total, two giants in the world\u2019s energy scene. Total\u2019s Venus-1 has started drilling in ultra-deep conditions where the oil prize has to be very large to justify the drilling effort. In fact, Pancontinental\u2019s Saturn play is also very large and very similar<br \/>\ngeologically to Total\u2019s Venus Prospect, and in shallower water.&#8221;<\/p>\n<p>&#8220;Shell\u2019s imminent Graff-1 is geologically shallower than Venus and Saturn. All the same, success would be extremely meaningful. In a carbon-transition world that is growing and still hungry for energy, the fact is that oil remains an unavoidable part of the energy mix until we achieve a full transition\u201d.<br \/>\nShell and Total are two of the world&#8217;s largest and most successful oil companies. \u201cPancontinental is the only listed junior company in this<br \/>\nexciting Orange Basin play offshore Namibia and we watch with great interest as drilling proceeds\u201d.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>French\u00a0major\u00a0TotalEnergies\u00a0has\u00a0commenced\u00a0drilling\u00a0its\u00a0ultra-deep\u00a0Venus-1 well in the Orange Basin offshore Namibia On-trend, Pancontinental has mapped\u00a0the very large Saturn turbidite\u00a0complex\u00a0in\u00a0PEL\u00a087.\u00a0Saturn\u00a0is\u00a0geologically\u00a0similar\u00a0to\u00a0Total\u2019s\u00a0Venus\u00a0Prospect Venus and Saturn overlie the same high-quality mature Oil Source Rock,\u00a0and both lie immediately &hellip; <a href=\"https:\/\/www.oilnewskenya.com\/index.php\/namibia-why-pancontinentals-hopes-linger-on-venus-1-graff-1-drilling-results\/\" class=\"more-link\">Read More<\/a><\/p>\n","protected":false},"author":24,"featured_media":11292,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[7442,7445,11],"tags":[9845,9843,7913,1675,9513,1960,9846,9844,2297,2533,8688],"class_list":["post-11290","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-countries","category-southern-africa","category-top-news","tag-custos-investments","tag-graff-1","tag-namcor","tag-namibia","tag-orange-basin","tag-pancontinental","tag-pel-87","tag-saturn","tag-shell","tag-total","tag-venus-1","entry"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2021\/12\/NAMIBIA-ORANGE-BASIN-PROSPECTS.png?fit=478%2C407&ssl=1","jetpack_shortlink":"https:\/\/wp.me\/p5JWkQ-2W6","jetpack-related-posts":[{"id":11369,"url":"https:\/\/www.oilnewskenya.com\/index.php\/namibia-shell-spuds-graff-1-well-in-pel-39\/","url_meta":{"origin":11290,"position":0},"title":"NAMIBIA: Shell Spuds Graff-1 Well in PEL 39","author":"","date":"December 14, 2021","format":false,"excerpt":"Shell has spud the Graff-1 well in Block 2913 Petroleum Exploration License (PEL) 39 State-owned Namcor reported, The well is being drilled at a depth of around 2000 meters using the Valaris DS-10 rig and comes days after Total Energies started drilling the Venus-1 well in the neighboring PEL 56.\u2026","rel":"","context":"In &quot;Countries&quot;","block_context":{"text":"Countries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2021\/12\/NAMIBIA-ORANGE-BASIN-PROSPECTS.png?fit=478%2C407&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":13585,"url":"https:\/\/www.oilnewskenya.com\/index.php\/namibia-pancontinenta-provides-pel-87-update\/","url_meta":{"origin":11290,"position":1},"title":"NAMIBIA; Pancontinenta Provides PEL 87 Update","author":"","date":"April 19, 2023","format":false,"excerpt":"HIGHLIGHTS 6,872 km\u00a02\u00a03D seismic survey over 50% acquired, and on schedule\u00a0to be completed early June Survey will provide high resolution subsurface imaging of the vast\u00a0Saturn Turbidite Complex and surrounding area Namibian global exploration hot spot continues to deliver, with\u00a0further major new oil discoveries on-trend to PEL 87 Pancontinental Energy\u00a0has provided\u00a0the\u2026","rel":"","context":"In &quot;Countries&quot;","block_context":{"text":"Countries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2023\/04\/Namibia-83-87-90.png?fit=532%2C588&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2023\/04\/Namibia-83-87-90.png?fit=532%2C588&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2023\/04\/Namibia-83-87-90.png?fit=532%2C588&ssl=1&resize=525%2C300 1.5x"},"classes":[]},{"id":12642,"url":"https:\/\/www.oilnewskenya.com\/index.php\/namibia-pancontinental-withdraws-from-pel-37-licence\/","url_meta":{"origin":11290,"position":2},"title":"NAMIBIA: Pancontinental Withdraws from PEL 37 Licence","author":"","date":"September 13, 2022","format":false,"excerpt":"Pancontinental\u00a0Energy\u2019s\u00a066.67%\u00a0subsidiary,\u00a0Pancontinental\u00a0Namibia, has decided to withdraw from the process of seeking an extension\u00a0to the original\u00a0PEL 37 Licence\u00a0offshore Namibia. Pancontinental has held the licence\u00a0since 28th March 2011. Since the withdrawal of farminee Tullow on 21 March 2021, Pancontinental Namibia\u00a0has been endeavouring to reach agreement with its remaining joint venture partner\u00a0and to seek\u2026","rel":"","context":"In &quot;Countries&quot;","block_context":{"text":"Countries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2022\/06\/Namibia-discoveries-basins.png?fit=467%2C637&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":13016,"url":"https:\/\/www.oilnewskenya.com\/index.php\/namibia-sintana-energy-receives-petroleum-exploration-license-87-extension-approval\/","url_meta":{"origin":11290,"position":3},"title":"NAMIBIA: Sintana Energy Receives Petroleum Exploration License 87 Extension Approval","author":"","date":"December 22, 2022","format":false,"excerpt":"Sintana Energy has provided the following update on several matters including a recently approved extension to Petroleum Exploration License 87 (PEL 87), a year-end review and 2023 outlook. \u201c2022 was a seminal year in Sintana\u2019s history underpinned most notably by our entry into Namibia in March,\u201d said Robert Bose, President\u2026","rel":"","context":"In &quot;Countries&quot;","block_context":{"text":"Countries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2022\/06\/Namibia-sintana-energy.png?fit=541%2C600&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2022\/06\/Namibia-sintana-energy.png?fit=541%2C600&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2022\/06\/Namibia-sintana-energy.png?fit=541%2C600&ssl=1&resize=525%2C300 1.5x"},"classes":[]},{"id":11571,"url":"https:\/\/www.oilnewskenya.com\/index.php\/namibia-shell-rumored-to-have-discovered-light-oil-at-graff-1-well\/","url_meta":{"origin":11290,"position":4},"title":"NAMIBIA: Shell Rumored to have Discovered Light Oil at Graff-1 Well","author":"","date":"January 12, 2022","format":false,"excerpt":"Oil major Shell which is currently drilling the Graff-1 well is rumored to have struck light oil in the upper level of the cratecous reservoir although it it is yet to reach its primary target according to industry sources. There is however no information on the quantities discovered and whether\u2026","rel":"","context":"In &quot;Countries&quot;","block_context":{"text":"Countries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2022\/01\/NAMIBIA-ORANGE-BASIN-PROSPECTS.png?fit=478%2C407&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":14856,"url":"https:\/\/www.oilnewskenya.com\/index.php\/namibia-woodside-elects-not-to-exercise-its-farm-in-option-in-pel-87\/","url_meta":{"origin":11290,"position":5},"title":"NAMIBIA: Woodside Elects not to Exercise its Farm-in Option in PEL 87","author":"","date":"April 14, 2025","format":false,"excerpt":"Pancontinental Energy has received notification from Woodside Energy that Woodside has elected not to exercise its option to farm-in to the PEL 87 project. This notice has been received in advance of the long stop date of May 18th, 2025, after which Woodside\u2019s option was due to expire. A process\u2026","rel":"","context":"In &quot;Countries&quot;","block_context":{"text":"Countries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2023\/04\/Namibia-PEL-87.png?fit=1082%2C1200&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2023\/04\/Namibia-PEL-87.png?fit=1082%2C1200&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2023\/04\/Namibia-PEL-87.png?fit=1082%2C1200&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2023\/04\/Namibia-PEL-87.png?fit=1082%2C1200&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2023\/04\/Namibia-PEL-87.png?fit=1082%2C1200&ssl=1&resize=1050%2C600 3x"},"classes":[]}],"jetpack_sharing_enabled":true,"jetpack_likes_enabled":true,"_links":{"self":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/11290","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/users\/24"}],"replies":[{"embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/comments?post=11290"}],"version-history":[{"count":1,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/11290\/revisions"}],"predecessor-version":[{"id":11293,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/11290\/revisions\/11293"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/media\/11292"}],"wp:attachment":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/media?parent=11290"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/categories?post=11290"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/tags?post=11290"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}