Hydrocarb Moves Forward With Namibia Seismic Program

Source: www.gulfoilandgas.com 5/28/2014, Location: Africa

Hydrocarb Energy Corporation has commenced an Environmental Assessment program on its 21,300 sq km (5.3 million acre) Owambo Basin concession comprising blocks 1714A, 1715, 1814A, 1815A in northern Namibia adjacent to the Angola border. Results from a recently flown aerial gravity and magnetics program have identified 16 new structural leads which will be the focus of a regional exploration 2D seismic program in 2014-15. Approximately 15% of Hydrocarb’s 21,300 square km (5.3 million acre) concession has been explored with modern 2D seismic data to date.

Netherland, Sewell & Associates, Inc. (NSAI) has assigned 1.1 billion barrels of unrisked potential in-place oil resources in the Oponono Prospect located in a portion the concession. Unrisked potential recoverable oil resources from this single prospect range from 46 to 295 million barrels of oil (MMBO).

Chuck Dommer, Hydrocarb’s President stated, “With the discovery of 16 new leads and last year’s field study results, we are moving ahead with seismic, and our next step is to bring in an industry partner to expand our exploration efforts in the Owambo Basin. ”

Hydrocarb Energy holds a 90% working interest in the highly prospective Owambo Basin concession in northern Namibia with Namcor, the Namibian National Oil Company, holding the remaining 10%. Extensive geologic field studies have were completed last year proving the existence of excellent high-porosity reservoir rocks as well as soil sampling indicating the presence of crude oil derived from a carbonate source.

For more information about related Opportunities and Key Players visit West Africa Projects


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Related Categories: Ecological & Environmental  Emissions Measuring  Environment Management, Consultancy  Environmental Services  General  Hazardous Waste Management  Oil Spill & Emergency Response  Safety Services  Waste Disposal 

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