Oil Exploration off the Oranjemund Coast!

[Michael Alexander]

Saw this article in this week's Economist: LINK:http://www.economist.com.na/index.php?option=com_content&view=article&id=21697:government-awards-new-exploration-licences&catid=571:headlines&Itemid=62

The Ministry of Mines and Energy recently awarded petroleum exploration licenses for the offshore Namibian blocks 2813A, 2814B, and 2914A to Canada's Universal Power Corporation.
Universal Power, together with Brazil's High Resolution Technology (HRT) Oil and Gas Ltd., will have the same working interest (40% each) in all three blocks, while Acarus Investments (Pty) Ltd will have a 20% participating interest.
"The estimated gross cost of the first four-year phase is US$8,500,000. Phases 2 and 3 are each renewable for a two year period, and carry a commitment to drill one well during each phase.


"The designated operator of the blocks is HRT Oil & Gas, the discover of the massive oil fields off the Brazilian coast. The blocks collectively span an area of 15,382 square kilometres. The three blocks are contiguous, and are located south west of the large Kudu gas discovery that lies in the southern portion of the Namibian offshore leases in what is geologically known as the Orange basin.

[Michael Alexander]

I have always believed that there is oil of this here coast of ours.....

[SandyB]

Me  so as well  ,,,  there is  so much unexplored  and not yet found ....

[toonfandangl]

Yes ! 'A Twist of Sand' mind you, you would not trust BP with the drilling operation.  

[pam spackman]

   


WHY EVER NOT!!!!!!!

[toonfandangl]

Good one Pam!!..................................