{"id":13639,"date":"2023-05-02T12:31:31","date_gmt":"2023-05-02T12:31:31","guid":{"rendered":"https:\/\/www.oilnewskenya.com\/?p=13639"},"modified":"2023-05-02T12:39:34","modified_gmt":"2023-05-02T12:39:34","slug":"namibia-africa-oil-adds-stake-in-impact-oil-gas-limited-with-usd-95-0-million-placement","status":"publish","type":"post","link":"https:\/\/www.oilnewskenya.com\/index.php\/namibia-africa-oil-adds-stake-in-impact-oil-gas-limited-with-usd-95-0-million-placement\/","title":{"rendered":"NAMIBIA: Africa Oil Adds Stake in Impact Oil &#038; Gas Limited with\u00a0USD 95.0 million\u00a0Placement"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">Africa Oil has announced that it has participated in a\u00a0USD 95.0 million\u00a0Open Offer by Impact Oil &amp; Gas Limited, the privately\u2013owned, African\u2013focused exploration company. The capital raised shall be used towards funding Impact&#8217;s participating share of the multi-well drilling and testing programme in\u00a0Namibia\u00a0to further evaluate and appraise the Venus discovery; a world class, light-oil and associated gas field announced in\u00a0February 2022.\u00a0<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Africa Oil is the only publicly-listed Independent E&amp;P company with exposure to the Venus discovery through its strategic 31.1% shareholding in Impact which in turn holds a 20.0% participating interest share in Block&nbsp;2913B&nbsp;(PEL 56) and an 18.9% participating interest share in the adjacent Block 2912 (PEL 91).<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The Company has made an investment of approximately&nbsp;USD 31.4 million&nbsp;and following this placement, Africa Oil&#8217;s shareholding in Impact has increased to 31.1% from 30.9%. The Company&#8217;s closing cash balance as at&nbsp;December 31, 2022, was&nbsp;USD 199.7 million.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The proceeds from the Open Offer is intended to be used by Impact to fund its activities in 2023 including:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>The appraisal and development programme on Block&nbsp;2913B, in&nbsp;Namibia, following the Venus discovery, including the appraisal well (Venus-1A) which spud on&nbsp;March 4, 2023, a re-entry of the Venus-1X discovery well and testing of both wells.<br><\/li>\n\n\n\n<li>Exploration activity on the neighbouring Block 2912 to determine the extent of the Venus discovery, including an exploration well, Nara-1X, and testing on the anticipated westerly extension of Venus into the neighbouring block.<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">If Nara-1X is successful, it will be followed by the Nara-1A appraisal well and extended 3D seismic survey on this block.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Siraj Ahmed, Chief Executive Officer of Impact, commented:<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><em>&#8216;We are pleased to see the US$ 95 million open offer\u2019s successful completion, having been fully taken up by our existing shareholders, who continue to support our growth and to whom we are most grateful. The funds raised will be applied towards our share of the multi-well drilling programme now underway in Namibia, together with our partners TotalEnergies, QatarEnergy and NAMCOR.&#8217;<\/em><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Africa Oil has announced that it has participated in a\u00a0USD 95.0 million\u00a0Open Offer by Impact Oil &amp; Gas Limited, the privately\u2013owned, African\u2013focused exploration company. The capital raised shall be used &hellip; <a href=\"https:\/\/www.oilnewskenya.com\/index.php\/namibia-africa-oil-adds-stake-in-impact-oil-gas-limited-with-usd-95-0-million-placement\/\" class=\"more-link\">Read More<\/a><\/p>\n","protected":false},"author":24,"featured_media":13640,"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":false,"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":[70,8618,11224,11223,8518,7913,1675,11225,11043,9823,9339,11097],"class_list":["post-13639","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-countries","category-southern-africa","category-top-news","tag-africa-oil","tag-block-2912","tag-block-2912-pel-91","tag-block-2913b-2","tag-impact-oil-and-gas","tag-namcor","tag-namibia","tag-nara-1x-2","tag-pel-56","tag-qatarenergy","tag-totalenergies","tag-venus-discovery","entry"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2023\/05\/Namibia-Nara-Venus-wells.png?fit=720%2C608&ssl=1","jetpack_shortlink":"https:\/\/wp.me\/p5JWkQ-3xZ","jetpack-related-posts":[{"id":13317,"url":"https:\/\/www.oilnewskenya.com\/index.php\/namibia-impact-oil-gas-commences-multi-well-drilling-programme\/","url_meta":{"origin":13639,"position":0},"title":"NAMIBIA: Impact Oil &amp; Gas Announces Commences Multi-well Drilling Programme in Block 2913B","author":"","date":"February 23, 2023","format":false,"excerpt":"Impact Oil & Gas Limited has announced the imminent commencement of a multi-well drilling programme in Namibia, following the Venus light oil discovery in Block 2913B (PEL 56). Highlights Multi-well programme in Namibia due to commence before the end of February, targeting up to four wells (including the re-entry of\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\/02\/Namibia-Nara-Venus-wells.png?fit=720%2C608&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2023\/02\/Namibia-Nara-Venus-wells.png?fit=720%2C608&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2023\/02\/Namibia-Nara-Venus-wells.png?fit=720%2C608&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2023\/02\/Namibia-Nara-Venus-wells.png?fit=720%2C608&ssl=1&resize=700%2C400 2x"},"classes":[]},{"id":13974,"url":"https:\/\/www.oilnewskenya.com\/index.php\/namibia-impact-oil-gas-provides-update-on-appraisal-and-exploration-programme\/","url_meta":{"origin":13639,"position":1},"title":"NAMIBIA: Impact Oil &#038; Gas Provides Update on Appraisal and Exploration Programme","author":"","date":"September 29, 2023","format":false,"excerpt":"Impact Oil & Gas has announced an update on its appraisal and exploration programme, offshore Namibia, including the successful drilling of the Venus-1A appraisal well, a flow test on the Venus-1X re-entry in Block 2913B (PEL 56) and its future activity. Block 2913B (PEL 56) Venus-1X re-entry and Drill Stem\u2026","rel":"","context":"In \"Block 2912\"","block_context":{"text":"Block 2912","link":"https:\/\/www.oilnewskenya.com\/index.php\/tag\/block-2912\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2023\/09\/Namibia-PEL-91.png?fit=890%2C621&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2023\/09\/Namibia-PEL-91.png?fit=890%2C621&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2023\/09\/Namibia-PEL-91.png?fit=890%2C621&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2023\/09\/Namibia-PEL-91.png?fit=890%2C621&ssl=1&resize=700%2C400 2x"},"classes":[]},{"id":11253,"url":"https:\/\/www.oilnewskenya.com\/index.php\/namibia-totalenergies-spuds-venus-1x-exploration-well-in-offshore-block-2913b\/","url_meta":{"origin":13639,"position":2},"title":"NAMIBIA: TotalEnergies Spuds Venus-1X exploration well in offshore Block 2913B","author":"","date":"December 1, 2021","format":false,"excerpt":"Block 2913B JV partner Impact Oil & Gas Limited has announced the spud of the Venus-1X offshore exploration well in Namibia Block 2913B (PEL 56). The well is being drilled in 3,000m water depth by the Maersk Voyager drillship. Petroleum Exploration Licence 56, Block 2913B, is located offshore southern Namibia\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-Venus-1x.png?fit=1200%2C665&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2021\/12\/namibia-Venus-1x.png?fit=1200%2C665&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2021\/12\/namibia-Venus-1x.png?fit=1200%2C665&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2021\/12\/namibia-Venus-1x.png?fit=1200%2C665&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2021\/12\/namibia-Venus-1x.png?fit=1200%2C665&ssl=1&resize=1050%2C600 3x"},"classes":[]},{"id":13692,"url":"https:\/\/www.oilnewskenya.com\/index.php\/africa-oil-announces-q1-2023-results\/","url_meta":{"origin":13639,"position":3},"title":"Africa Oil announces Q1 2023 results","author":"","date":"May 15, 2023","format":false,"excerpt":"Highlights The high impact Venus appraisal campaign commenced with the spud of Venus-1A well, located 13km to the north of the discovery well Venus-1X, on\u00a0March 4, 2023. A second drilling rig is expected to join the campaign soon. On\u00a0April 27, 2023, the Company subscribed for 39,455,741 shares in Impact for\u00a0$31.4\u2026","rel":"","context":"In &quot;Central Africa&quot;","block_context":{"text":"Central Africa","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/central-africa\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2023\/05\/Africa-Oil.png?fit=526%2C528&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2023\/05\/Africa-Oil.png?fit=526%2C528&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2023\/05\/Africa-Oil.png?fit=526%2C528&ssl=1&resize=525%2C300 1.5x"},"classes":[]},{"id":14149,"url":"https:\/\/www.oilnewskenya.com\/index.php\/namibia-totalenergies-increases-its-interests-in-offshore-blocks-2913b-2912\/","url_meta":{"origin":13639,"position":4},"title":"NAMIBIA: TotalEnergies Increases its Interests in Offshore Blocks 2913B &#038; 2912","author":"","date":"January 10, 2024","format":false,"excerpt":"TotalEnergies has signed an agreement to acquire from Impact Oil and Gas Namibia (Pty) Ltd an additional 10.5% participating interest in block 2913B and an additional 9.39% participating interest in block 2912, both operated by TotalEnergies in Namibia. TotalEnergies says its intention is to share this additional participating interest with\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\/2024\/01\/namibia-Venus-1x.png?fit=1200%2C665&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2024\/01\/namibia-Venus-1x.png?fit=1200%2C665&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2024\/01\/namibia-Venus-1x.png?fit=1200%2C665&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2024\/01\/namibia-Venus-1x.png?fit=1200%2C665&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2024\/01\/namibia-Venus-1x.png?fit=1200%2C665&ssl=1&resize=1050%2C600 3x"},"classes":[]},{"id":11904,"url":"https:\/\/www.oilnewskenya.com\/index.php\/namibia-totalenergies-makes-a-significant-discovery-at-the-venus-prospect\/","url_meta":{"origin":13639,"position":5},"title":"NAMIBIA: TotalEnergies Makes a Significant Discovery at the Venus Prospect","author":"","date":"February 24, 2022","format":false,"excerpt":"TotalEnergies has made a significant discovery of light oil with associated gas on the Venus prospect, located in block 2913B in the Orange Basin, offshore southern Namibia. The Venus 1-X well encountered approximately 84 meters of net oil pay in a good quality Lower Cretaceous reservoir. \u201cThis discovery offshore Namibia\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\/02\/Namibia-Venus-1x-2.png?fit=750%2C750&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2022\/02\/Namibia-Venus-1x-2.png?fit=750%2C750&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2022\/02\/Namibia-Venus-1x-2.png?fit=750%2C750&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2022\/02\/Namibia-Venus-1x-2.png?fit=750%2C750&ssl=1&resize=700%2C400 2x"},"classes":[]}],"jetpack_sharing_enabled":true,"jetpack_likes_enabled":true,"_links":{"self":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/13639","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=13639"}],"version-history":[{"count":1,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/13639\/revisions"}],"predecessor-version":[{"id":13641,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/13639\/revisions\/13641"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/media\/13640"}],"wp:attachment":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/media?parent=13639"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/categories?post=13639"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/tags?post=13639"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}