This will allow the co-venturers to identify future drill targets (including possible re-entry of the well), plan additional seismic and further evaluate the current and additional prospects.
The company reported on the completion of drilling activities of the Kunene #1 well by saying that significant hydrocarbon shows were found and it believes the results of operations has improved the prospectivity of Block 1711.
The blocks co-venturers are: NACOR Investments (70% – an affiliate of Sintez Group); EnerGulf Resources (10%); PetroSA (10% – a national petroleum company of South Africa); NAMCOR (7% – the national petroleum company of Namibia) and, Kunene Energy (3% – the local BEE group).
Jeff Greenblum, CEO of EnerGulf, said: “We have always been excited about Block 1711 and look forward to continuing our work to explore and develop the potential of this 2,200,000 acre block.
“The Kunene #1 was the first well in the Namibe Basin and confirmed the existence of hydrocarbons and a working petroleum system. We anticipate that the results of this work program will guide us towards a successful exploration and drilling program.”
