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Thursday, May 23, 2013
While the recently announced results of HRT’s Wingat-1 well may not have been all the company had hoped for, it has given another explorer in Namibia some encouragement.
Tower Resources said that it believes the well results offer significant encouragement for its planned well, the Welwitschia-1 on the License 0010. The Tower well is planned for H1 2014.
HRT’s Wingat-1 wildcat well, while not encountering commercial quantities of oil, did recover four 450 cl samples of light 38˚ to 42˚ API oil from thin sands of undisclosed age. The well also drilled through two ‘well-developed source rocks, which are rich in organic carbon and both are within the oil-generating window.
Tower said in a release that the Wingat-1 well provided clear evidence that oil has been generated and migrated, and is especially encouraging in identifying not just one but two source intervals, both in the ‘oil window’.
Jeremy Asher, Towers chairman, commented: “This result is very encouraging for the future potential of the WalvisBasin and for our upcoming well. Although the chance of success at any individual prospect depends on several factors, the presence of more than one mature source rock interval significantly reduces the overall risk in the basin, and should encourage additional exploration activity. We hope that this result, along with additional evidence from seeps and other offset data, such as the Norsk Hydro well, will also dispel the myth that Namibia is solely a gas province, and we look forward to the result of HRT’s next well in the WalvisBasin, Murombe-1.”
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