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.