$50,000,000
Namibia Block PEL73 (1719, 1720, 1721, 1819, 1820, 1821)
An onshore block in the unexplored, frontier Kaganvo Basin or Namibia and Botswana, with great potential for hydrocarbons. Recon Africa have acquired 2D seismic data across the Namibia acreage.
The company will start a new 4-6 well drilling campaign in 2024, after the initial set of wells proved the existence of an active petroleum system with an estimated 2 billion barrels of oil and 30 trillion cubic feet of gas.
The asset presents a great opportunity for an investor to help fund drilling and have equity in a 25,000 sq km license with enormous potential.
Details
Asset Name
: Namibia Block PEL73 (1719, 1720, 1721, 1819, 1820, 1821)
Ref
: AF-NAM-PEL73
Continent
: Africa
Country
: Namibia
Location
: Onshore
Project Phase
: Exploration
Latitude
: -18.45
Longitude
: 19.94
License Start
: 2014
Operator
: ReconAfrica
Other partners
: Namcor 10%
Farmout company
: ReconAfrica
Mandated Agent
: None
Work Programmes
: Drilling
Back Costs
: Unknown
Equity Offered
: 40 - 60%
Deal Status
: Open
FarmoutAngel Valuation
: $25,000,000 - $50,000,000
FarmoutAngel confidence
: Medium
Consideration Sought
: $50,000,000