PEL 83 – About the Permit
Sintana holds an indirect and carried interest in PEL 83 (Blocks 2813A/2841B) which is located in the northern Orange sub-basin approximately 150 km oof the south-west coast of Namibia. The Barremian Aptian source rock (Kudu Shale) is mature and believed to be within the oil mature window across PEL 83.
In November of 2023, Galp Exploration & Production Namibia spudded the Mopane-1X exploration well targeting two AVO anomalies (AVO-1 and AVO-2) and in January 2024 announced discoveries in both AVO anomalies of significant columns of light oil in reservoirs of high-quality sands. Given these results Galp proceeded with drilling of a second well, Mopane-2X, and in March 2024 reported several discoveries at the Mopane-2X location, with each of the AVO-1 appraisal target, AVO-3 exploration target and a deeper target fully cored and logged. Notably, the AVO-1 appraisal target at the Mopane-2X location found the same pressure regime as in the Mopane-1X discovery well located approximately 8 km to the east, thus confirming its lateral extension.
In April 2024, Galp E&P Namibia successfully completed drill stem testing operations at the Mopane-1X well and reported that the reservoirs’ log measures contain good porosities, high pressures and high permeabilities in large hydrocarbon columns. Fluid samples presented very low oil viscosity and contained minimum CO2 and no H2S concentrations.
Late in 2024, the Mopane-1A well, an AVO-1 appraisal well, was drilled, cored and logged, with the well encountering light oil and gas-condensate. This was followed by the Mopane-2A well, which successfully appraised and extended the AVO-3 reservoir and the AVO-4 discovery, a column of light oil in a deeper reservoir. Galp E&P Namibia subsequently completed drilling the Mopane-3X exploration well to the south-east and announced light oil discoveries in two stacked prospects, AVO-10 and AVO-13, plus a deeper target.
Galp has indicated potential resources of approximately 10 billion barrels and has provided an initial 3C contingent resource estimate of around 850 million barrels. Initial well flow rates were reported at approximately 15,000 barrels of oil per day. Galp is currently conducting a farm-out process with leading industry participants reported to be interested, and this process is expected to conclude by the end of the year.
Highlights
- Adjacent to Shell’s largest commercial find (Graff-1) in Africa since 1996 and 2nd largest globally in 10 years.
- The license also lies north and east of Venus Discovery by TotalEnergies, currently has a 5-Year drilling plan estimated at $800M.
- In January 2024, Galp confirmed the discovery of a significant column of light oil in reservoir-bearing sands of high quality at the Mopane-1X.
- In mid March, Galp confirmed the Mopane-2X discovery of three high quality reservoirs including the lateral extension of the Mopane AVO-1 reservoir.
- Galp subsequently drilled the Mopane-1A and -2A wells to appraise several reservoirs including the lateral extension of the AVO-1 and AVO-3 discoveries.
- In February Galp drilled the Mopane-3X, an 18km offset well and discovered three high quality, light oil reservoirs.
| Partners | Participation Interest |
|---|---|
| Galp Energia (Operator) | 80% |
| Inter Oil (Pty) Ltd* | 10% |
| NAMCOR | 10% |
*On March 9th 2022, the Company completed the acquisition of 49% of Inter Oil (Pty) Ltd. resulting in an effective interest to Sintana Energy in PEL 83 of 5% carried interest.
PEL 83 Snapshot
| Location | Upper Orange Basin |
| Area | 9,890 km2 |
| Water Depth | 250m – 2550m |
| Grant Date | 02-Sep-16 |
| Licence Term | 5 years + 1 year extension + 2 renewal terms of 2 years |
| 2D Seismic | 5000 km |
| 3D Sesimic | 6300 km2 |
| Nearby Wells | Mopane 3X, Sagittarius-1x (2025) |
| Capricornus-1X (2025) | |
| Mopane-1X, Mopane-2X (2024) | |
| Mopane-1A, Mopane-2A (2024) | |
| Enigma-1X (2024) | |
| Jonker-1A, Jonker-2A (2023) | |
| Lesedi-1X, Jonker-1X (2023) | |
| La Rona-1X, Graff-1X (2022) |
