Sintana Energy has provided an update regarding Petroleum Exploration License 79 ('PEL 79') which governs Blocks 2815 and 2915 located in Namibia’s Orange Basin.
The joint venture partners of PEL 79 which include the National Petroleum Corporation of Namibia ('NAMCOR') and Giraffe Energy Investments, an entity in which Sintana maintains a 49% ownership interest, have been notified by the Ministry of Industries, Mines and Energy for the Republic of Namibia that a 12-month extension to the second renewal exploration period has been granted extending the current license period to July 2026.
Giraffe is the owner of a 33% interest in PEL 79 and Namcor is the operator with a 67% interest. PEL 79 sits inboard of licenses operated by BW Energy, Rhino Resources and Shell.
PEL 79 is attractively situated to deliver significant value through an existing prospect inventory underpinned by over 4,760 km of 2D seismic, 1,137 km2 of 3D seismic and 1 well with gas shows intersecting the Kudu source rock.
Additionally, PEL 79 sits adjacent to an emerging microregional dynamic focused on oil-weighted prospectivity.
- Rhino Resources, operator of PEL 85 which sits directly outboard to the west of PEL 79, has drilled two wells including the Capricornus-1X discovery well which returned a flow test in excess of 11,000 barrels per day of light oil with limited associated gas from a 38-metre net oil-bearing reservoir. Additional drilling activity is expected to commence in Q3 initially targeting the Volans prospect, with up to two optional wells that could include appraisals.
- BW Energy has acquired 4,600 square kilometers of new 3D seismic over PEL 3, located directly west of PEL 79, and has moved to initiate an exploration and appraisal campaign including drilling the Kharas well located northwest of Kudu during H2 2025.
'We appreciate the leadership by our joint venture partner NAMCOR to secure the extension for PEL 79. Extending our exposure during a period of significant offset activity positions us to fully realize the significant geologic, commercial, and strategic value of PEL 79'. said Robert Bose, Chairman of Giraffe and Chief Executive Officer of Sintana. 'The potential for high impact progress on PEL 79 adds to the prospect for significant developments across our Namibian offshore portfolio. We expect material progress on all our licenses over the coming quarters,' he added.
ABOUT SINTANA ENERGY:
The Company is currently engaged in petroleum and natural gas exploration and development activities on five large, highly prospective, onshore and offshore petroleum exploration licenses in Namibia, and in Colombia’s Magdalena Basin.
Source: Sintana Energy
