NAMIBIA: Impact Oil & Gas Provides Update on Appraisal and Exploration Programme

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 Test (DST)

–   The Deepsea Mira re-entered and side-tracked the Venus-1X discovery well (announced in February 2022) and flowed oil         from the test with positive results.

–   The operator and its partners are now interpreting the results of the flow test and incorporating them into the development        studies, which is expected be confirmed with the flow test of Venus-1A in Q4 2023.

  • Venus-1A

–    The Venus-1A appraisal well results were positive, having been successfully drilled, cored and logged by the Tungsten Explorer to a total depth of 6,146m, approximately 13km north of the Venus discovery well.

–    The Deepsea Mira will re-enter Venus-1A in the coming days in order to undertake a DST.

  • Mangetti-1X

–    The Tungsten Explorer will now drill the Mangetti-1X exploration well in the northern part of Block 2913B.

Impact (through its wholly owned subsidiary, Impact Oil and Gas Namibia (Pty) Ltd) holds a 20% working interest in Block 2913B (PEL 56). PEL 56 is operated by TotalEnergies EP Namibia B.V who holds, a 40% working interest, and QatarEnergy and NAMCOR respectively hold a 30% and 10% working interest in PEL 56.

Block 2912 (PEL 91)

The Nara-1X exploration well was drilled to a total depth of 6,181m, using the Tungsten Explorer drillship. A full wireline logging programme was completed, and a core has been taken. However, the Nara-1X well was not flow tested, as the well was not successful. The Joint Venture is continuing to evaluate the results of Nara-1X.

Impact (through its wholly owned subsidiary, Impact Oil and Gas Namibia (Pty) Ltd) also holds an 18.89% working interest in the adjacent Block 2912 (PEL 91), where it is also partnered with TotalEnergies (Operator, with 37.78%), QatarEnergy (28.33%) and NAMCOR (15%).

Siraj Ahmed, Chief Executive Officer of Impact, commented:

“We are very pleased with the results of the Venus-1X DST and of the Venus-1A appraisal well, the second successful well in Venus. These positive results provide the crucial dynamic data required to progress development studies towards the first development on Block 2913B.

The Operator continues to progress with an exciting exploration and appraisal programme. We look forward to the results ahead of us, which we expect to de-risk similar prospects in the southern part of the blocks.”

About Block 2913B, offshore Namibia

Petroleum Exploration Licence 56, Block 2913B, is located offshore southern Namibia and covers approximately 8,215km² in water depths up to 3,000m.  Impact entered the licence as Operator in 2014, acquiring 2D, then 3D seismic data which defined the Venus prospect. In 2017, Impact and NAMCOR were joined by TotalEnergies, bringing with it significant deep-water drilling expertise to the Joint Venture, and in 2019 QatarEnergy joined the Joint Venture.

About Block 2912, offshore Namibia

Petroleum Exploration Licence 91, Block 2912, is located offshore southern Namibia, adjacent to, but outboard of, PEL 56 and covers approximately 7,884km² in water depths between 3,000 and 3,900m. Impact joined TotalEnergies and NAMCOR on the licence in 2019, as did QatarEnergy.

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