NAMIBIA: Rhino Resources Completes the Sagittarius-1x well in the Orange Basin, PEL85

Rhino Resources has announced that it has completed the Sagittarius-1x well in the Orange Basin, PEL85 offshore Namibia.

Commenting on the initial well results, Rhino’s CEO Travis Smithard said:
“We are pleased to have safely and successfully completed the drilling of the first exploration well in our programme on PEL 85. The hydrocarbon-bearing reservoir encountered is evidence for the effectiveness of charge, although further assessment will be required by Rhino and the PEL 85 JV partners to evaluate the results of the well.

Our attention now turns to the second target in the programme, which is the Capricornus prospect, a NE-SW trending channel system. The Capricornus-1X well is due to be spud within the next 24 hours and is estimated to take 47 days to drill”.

Rhino is the operator, 42.5% with alongside Azule Energy (42.5%), Namcor (10%) and Korres Investments (Pty) Ltd (5%).