Monitor, Operator of PEL 93 in the centre of the onshore Owambo Basin, Namibia, advises that processing and initial interpretation of our 2024 2D seismic survey of 200 km has been completed.

Initial results support prior interpretation of prospectivity of up to 11 leads in the Company's acreage with a total area in excess of 1,000 km².

In the most prospective structure, the anticline is present at all prospective levels through the clastic Mulden sequence, where several reservoir levels are expected, and the Otavi carbonates which flowed at 1,680 BWPD from a DST at Etosha-5-1A, a well drilled to the West of our blocks.

This one structure has an area in excess of 100 km² with significant vertical relief and clear access to hydrocarbon charge from source rocks which extend from directly beneath the structure to the main kitchen in the centre of the basin to the north.

Further analysis and interpretation is ongoing in order to define the forward plan to mature prospects for drilling in 2025 or 2026.

Background

In 2023, Monitor carried out a 60 km-line 2D seismic test with AWD source.

In 2024, Monitor proceeded with a 200 km-line 2D seismic with improved Vibroseis source.

KeyFacts Energy: Monitor Exploration Namibia country profile