$30,000,000
Namibia Block PEL87 (2713)
Pancontinental Energy (op, 75%) are seeking a partner to acquire 3D or drill.
Block PEL87 lies just north of the recent Venus and Graff discoveries.
Saturn Superfan prospect is 2.83 bn bbls (Mean, unrisked)
Block has same source rock & regional seal as Venus, the source Rock penetrated by Moosehead-1 well in block.
Farm-in partner would have option to fund drilling.
Details
Asset Name
: Namibia Block PEL87 (2713)
Ref
: AF-NAM-PEL87
Continent
: Africa
Country
: Namibia
Location
: Offshore
Project Phase
: Frontier
Latitude
: -27.51
Longitude
: 13.57
License Start
: 2017
Operator
: Pancontinental Orange Ltd
Other partners
: Namcor 10%, Custos 15%
Farmout company
: Pancontinental Orange Ltd
Mandated Agent
: None
Work Programmes
: Seismic
Back Costs
: Unknown
Equity Offered
: 40 - 60%
Deal Status
: Open
FarmoutAngel Valuation
: $25,000,000 - $50,000,000
FarmoutAngel confidence
: Medium
Consideration Sought
: $30,000,000