Monitor Exploration announces the completion of its integrated interpretation of recently acquired airborne gravity, magnetic and radiometric survey data, together with their recent 2D and passive seismic and legacy datasets including further 2D seismic,  soil gas samples and remote sensing over Petroleum Exploration Licence 93 (“PEL 93”), onshore Namibia.

The interpretation results are positive and materially enhance the Company’s subsurface understanding of the block.

De-risking of exploration inventory

The integrated geological and geophysical approach reduces key uncertainties and supports ongoing prospect maturation beyond structural definition:

The presence of at least one mature source rock has been demonstratedrepeatedly by oil and gas shows in the wells drilled by Recon Africa, near neighbour in the east of the basin who also recently reported an upgraded 75m of log calculated pay in their Kavango-West-1X well, and by legacy geological evidence across the Basin.

Reservoir and seal were identified in both the Mulden and Otavi sections in the etosha-5-1A well, drilled in the west of the basin in 1991. We expect these to continue to the centre of the basin, providing increased prospectivity in PEL93. 

Importantly, PEL 93 at the centre of the basin benefits from being correlated to all the positive news emanating from Recon Africa’s activity.

KeyFacts Energy: Monitor Exploration Namibia country profile