Namibia – Pancontinental – Tullow

On 16 December, Pancontinental Namibia (‘Pancontinental’) received a purported cash call from Tullow in the amount of US $552,897 claiming to represent 35% of the following costs allegedly incurred by Tullow in the 2014, 2015 and 2016 calendar years:  Exploration common costs;  Exploration licence management;  Tullow’s local office costs; and  Exploration general, non-Project.

Tullow claims to have made an adjustment to the joint venture accounts as a result of conducting an internal review of costs incurred since 2014, thus purporting to give it the right to issue the purported cash call.  This claimed adjustment was made without any prior consultation with Pancontinental.  Pancontinental will be seeking full and complete details from Tullow of its claimed adjustment and of its purported cash call, but is of the view that the items, if accurate, are covered by the free carry as defined in the Tullow Farmout Agreement dated Sept 6th, 2013 and as such the cash call is not valid.  Pancontinental will issue a further statement when more information is available.

For and on behalf of Pancontinental Oil & Gas NL

Barry Rushworth CEO and Executive Director

Namibia – Impact Oil and Gas – Acquisition of 1,900km² of 3D seismic offshore Namibia commences

“London, [12 December 2016], Impact Oil and Gas (“Impact”), the African-focused pure exploration company is pleased to announce that it has started acquiring proprietary 3D seismic data offshore southern Namibia on Block 2913B. The Block, which has a water depth from 2,500m, lies 300km offshore and is immediately adjacent to the South Africa maritime boundary. The survey will cover approximately 1,900km2 of 3D seismic, targeting the highly material Aptian basin floor fan reservoir. Impact holds an 85% working interest in the Block and is the main operator. NAMCOR, a state oil company, holds 10% and Grisham Assets Corp. 5%.

Petroleum Geo-Services (“PGS”), a dedicated marine geophysical company, has been contracted to carry out the survey using its pioneering GeoStreamer® technology to acquire high quality 3D seismic data using the M/V Ramform Sterling. The survey is expected to be completed in late December 2016.

Impact’s contractor, PGS, is led by a team of highly experienced maritime and seismic industry professionals, who have proven reliability working offshore Namibia and are well renowned for their fleet of high performance 3D seismic vessels, incorporating innovative design and advanced maritime technologies for improved efficiency and operating to international best practice safety standards.

Impact acquired Block 2913B in February 2014 and subsequently licenced 2D seismic in July 2014, which modelling identified a large apron fan draped over oil-mature Aptian source rocks to form an extensive stratigraphic trap. Data processing and interpretation on the 3D seismic will begin once the survey is completed, early next year.”

As can be seen – the Impact acreage is close to Chariot and Shell’s acreage.


Namibia – Eco (Atlantic) Oil and Gas – April 2016 Presentation

A new presentation is available : here . It highlights the relationship with Tullow oil who recently entered into a drilling agreement with Pancontinental.

Namibia – Pancontinental – Tullow – Elect to Drill

Excellent news for Namibia offshore, Tullow and Pancontinental, and of course Chariot with its excellent nearby acreage, is the news that Tullow has elected to enter the drilling phase of a farm-in to Namibia PEL37.

Once again this shows that, given the current climate, there must be something rather exceptional about offshore Namibia that has had Shell, Murphy, OMV etc buy into acreage. Chariot of course has much  more acreage than Tullow, and some additional juicy prospects.

Good luck to Tullow and Pancontinental. Given that SHELL will be drilling across the offshore border in South Africa, this makes Chariots acreage even more interesting!

Helios Chariot - Namibia - Summary

Namibia – Pancontinental – Tullow – Extension Request

This is going to be interesting! Tullow have requested another week of extension to the 7th April 2016 to decide if they continue with the Namibia License – and drill etc.

Click here

Helios Chariot - Kudu - Condensate

Namibia – Pancontinential – Cash Raising

Pancontinental to raise $2.2M cash

Key focus is on their Namibia Acreage with the partner Tullow rumoured to be farming out to Anadarko.

Helios Chariot - Tullow Oil LogoHelios Chariot - Anadarko Logo

Namibia – South Africa – SHELL

Helios Chariot - Shell License Area

Shell have had a recent EIR created and approved for their drill in offshore acreage in South Africa – just below the Namibian border. SHELL also farmed into acreage in Namibia. SHELL Plc also reports that the EIR has been successful and permits two wells in the Northern part of the license. Note – the Northern part of the license abuts Namibia and is just below Chariots and Shells Namibia acreage. I am guessing the reason SHELL took the Namibia acreage is because of what they found in the Northern part of their South Africa acreage 3d.

You might recall that Anadarko who are currently believed to be looking for acreage in Namibia also have acreage just south of the border in South Africa. So we have two multi-national oilers about to have acreage  both in Namibia and South Africa offshore.

Enigma (Chariot) sits above the SHELL acreage and below the Murphy Acreage – a nice sandwich.

Helios Chariot - SHELL EIR South Africa Namibia Border

Namibia – Murphy Oil – EIA – H1 2017 Drill

Murphy farmed into Namibia several years back and a very recent environmental impact statement has now been released

‘A Draft Environmental Impact Report (EIR) has been compiled and made available for a 30-day review and comment period from 19 October to 18 November 2015. Copies of the Draft EIR will be available at the Walvis Bay and Luderitz libraries from 19 October 2015.  The full report is also available for download below.  Comments on the Draft EIR should be forwarded to Simon Charter of SLR Environmental Consulting (Namibia) at the below contact details by no later than 18 November 2015.’

‘Should a decision be taken to proceed with the proposed project, drilling is anticipated to commence during the first half of 2017. Although the expected final depth of the wells would be between approximately 2 800 m and 4 000 m below the seafloor, the EIA considers a maximum depth of approximately 5 000 m below the seafloor. Drilling with its associated testing is expected to take up to approximately two to three months per well to complete. ‘

The report anticipates two drills starting in H1 2017. As you can see – the proposed drilling area is next door to Chariot’s southern acreage. You will also see SHELL’s acreage in Namibia. Across the border and directly abutting SHELLS Namibia acreage SHELL have just been granted a license to drill two oil wells.

Helios Chariot - Namibia - Summary

 Helios Chariot - Murphy EIR Namibia