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Wednesday, May 29, 2013
The drilling of HRT’s Wingat-1 well offshore Namibia and the oil it encountered. albeit in non-commercial quantities, has generated much press from other companies holding stakes in the southern African country. This reaction stems from the widely held belief that the country’s basins are highly gas prone.
Global Petroleum is just one of those companies that has been encouraged by the wells results. According to the company its directors and technical management team are encouraged by the presence in the Walvis Basin of two organic rich source rocks, encountered at a depth where they are actively generating oil. The direct evidence from the Wingat well is significant for all future exploration throughout the Walvis Basin, including in the two blocks held by Global.
Global’s acreage contains both play types: the Albian age carbonate platform encountered by Wingat-1 and the Cretaceous basin-floor fan to be tested by HRT’s next well the Murombe. Global says it awaits the results of this next well with interest.
The company went on to say that Namibia remains a highly prospective frontier province and the board will continue to move forward with the farm out of its acreage, as well as maintain its efforts to engage potential partners with the aim of broadening its project portfolio.
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