Africa Oil announces significant discovery offshore South Africa

Posted On February 7th, 2019 - 9:17 am | by Oil and gas press

Africa Oil Corp. (TSX Venture: AOI) (Nasdaq First North: AOI) (“Africa Oil” or the “Company”) announced a significant discovery at the Brulpadda-1AX well on Block 11B/12B offshore South Africa.

Africa Oil holds an indirect interest in the project as a result of its equity interest in Africa Energy (35%) and Impact Oil and Gas (30%).

The well encountered a total of 57 meters of net gas condensate pay over two Lower Cretaceous high-quality reservoirs. Core samples were taken in the upper reservoir, and a comprehensive logging and sampling program was performed over both reservoirs.

The Brulpadda discovery is located on Block 11B/12B in the Outeniqua Basin 175 kilometers off the southern coast of South Africa. The block covers an area of 19,000 square kilometers with water depths ranging from 200 to 1,800 meters.

The Brulpadda well was drilled in approximately 1,400 meters of water by the Odfjell Deepsea Stavanger semi-submersible rig. The well targeted two objectives in a deep marine fan sandstone system within combined stratigraphic/structural closure. Following the success of the main objective, the well was deepened to a final depth of 3,633 meters and was successful in the Brulpadda-deep prospect.

Following the success at Brulpadda and confirmation of the play potential, the Block 11B/12B partners plan to acquire 3D seismic this year, followed by up to four exploration wells.

Keith Hill, Africa Oil’s President and CEO, commented, “We are very pleased to see the first well in our 2019 exploration portfolio campaign result in a major basin opening gas-condensate and oil discovery. This is an important new discovery as the potential of the Outeniqua Basin has long been considered to have huge upside potential and the drilling of the Brulpadda well was highly anticipated across the industry.”

The Company looks forward to following up this success with its upcoming drilling programs in Guyana and Namibia. The Guyana block will be the focus of a multi-well drilling program in May by Operator Tullow and will test the updip extension of the major discoveries in the Starbroek block made by Exxon, now estimated to contain over 5 billion barrels of oil. Africa Oil will gain exposure to this play through our 19% holding in Eco. The Venus well in Namibia, which the Company has exposure to through our 30% interest in Impact Oil and Gas, is planned to be drilled later this year by Operator TOTAL.

Africa Oil has been able to gain significant exposure to some of the most attractive exploration plays in the world through a portfolio approach that limits financial exposure to the Company.

Source / More : Africa Oil

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