Keith Hill, Africa Oil's President and CEO, commented, "We are very pleased to see the first well in our 2019 exploration portfolio campaign result in a major basin opening gas-condensate and oil discovery. This is an important new discovery as the potential of the Outeniqua Basin has long been considered to have huge upside potential and the drilling of the Brulpadda well was highly anticipated across the industry."
The Company looks forward to following up this success with its upcoming drilling programs in Guyana and Namibia. The Guyana block will be the focus of a multi-well drilling program in May by Operator Tullow and will test the updip extension of the major discoveries in the Starbroek block made by Exxon, now estimated to contain over 5 billion barrels of oil. Africa Oil will gain exposure to this play through our 19% holding in Eco. The Venus well in Namibia, which the Company has exposure to through our 30% interest in Impact Oil and Gas, is planned to be drilled later this year by Operator TOTAL.
HTTP://www.newswire.ca/news-releases/africa-oil-announces-significant-discovery-and-opening-of-new-petroleum-province-offshore-south-africa-805299945.html
