Capricornus-1A Confirms Namibia Offshore Oil Find

The latest appraisal well drilled in Namibia's Orange Basin has confirmed an earlier offshore oil discovery, giving energy partners more information to plan the next stage of exploration within Petroleum Exploration Licence (PEL) 85.

The National Petroleum Corporation of Namibia (NAMCOR) announced that the Capricornus-1A appraisal well successfully confirmed oil-bearing reservoir rock linked to the earlier Capricornus-1X discovery. The well reached a total depth of 4,818 metres and drilling ended safely without any incident.

The result does not mark a new oil discovery. Instead, it provides more geological data that the joint venture will study before deciding on further appraisal work and future exploration activities within the licence area.

Earlier discovery moves into appraisal stage

The Capricornus-1A well was drilled after the earlier Capricornus-1X discovery to gather more information about the size and nature of the offshore reservoir. Appraisal wells are drilled after an initial discovery to help companies understand whether the resource can support future development.

The work took place in Petroleum Exploration Licence 85, located offshore Namibia in the Orange Basin. Rhino Resources Namibia Ltd operates the licence with a 42.5 per cent working interest. Its partners are Azule Energy with 42.5 per cent, NAMCOR with 10 per cent and Korres Investments with 5 per cent.

Information collected from appraisal wells helps companies study underground rock formations, estimate the amount of oil present and prepare future drilling plans. The latest well also examined deeper geological layers that had not been reached by the earlier Capricornus-1X well.

Data to guide future exploration

NAMCOR said information from the Capricornus-1A well will be reviewed together with results from previous wells drilled within PEL 85. The combined findings will guide the next phase of appraisal work and future exploration in the licence area.

Acting Managing Director of NAMCOR, Mtundeni Ndafyaalako, said the latest drilling campaign had improved the partners' understanding of the offshore area.

"We are pleased with the progress made by Rhino Resources and our joint venture partners in PEL 85. The Capricornus-1A well has provided important information that improves our understanding of the area and supports the next phase of appraisal work," he said.

Ndafyaalako said every well drilled in the Orange Basin gives the country more information about its offshore petroleum resources. He praised the cooperation between the operator and the joint venture partners throughout the project.

Rhino Resources Chief Executive Officer Travis Smithard said the latest well also produced valuable geological information from deeper underground formations that were not reached during the earlier Capricornus-1X drilling campaign.

He said the new data, together with information gathered from previous discoveries, would improve the partners' understanding of their section of the Orange Basin and help guide future appraisal drilling on the Capricornus accumulation as well as other exploration targets within PEL 85.

Partners complete drilling safely

NAMCOR said drilling operations ended without any safety incident. The corporation congratulated Rhino Resources, Azule Energy, Korres Investments and all project teams involved in the drilling campaign for completing the work successfully.

Safe drilling is an important part of offshore exploration because it protects workers, equipment and the marine environment while allowing companies to gather reliable technical information.

The Capricornus-1A appraisal results will now undergo detailed technical analysis alongside existing geological and drilling records. The outcome of those studies will help the joint venture determine the next steps in evaluating the Capricornus discovery and planning future exploration activities within Petroleum Exploration Licence 85.