Frontier Resources hits oil onshore Namibia

oil namibia-mono bustos sxc.huFrontier Resources is the operator of the licence with a 90 per cent working interest. (Image source: Mono Bustos/sxc.hu)Frontier Resources has announced that it has struck oil in Blocks 1717 and 1817, located in the Owambo Basin onshore Namibia

Covering an area of around 18,933 sq km, Frontier Resources is the operator of the licence with a 90 per cent working interest while Namibian National Oil Company (NAMCOR) has a 10 per cent carried interest.

The company had recently completed a soil gas survey consisting of 903 sites on an approximately one kilometre within the licence blocks.

The results showed the presence of anomalous, above background levels of methane, ethane, propane and butane gases which, by both their magnitudes and ratios, confirm the existence of one or more oil generating source rocks within the licence area, Frontier Resources added.

Jack Keyes, CEO of Frontier Resources, said, “The results of this survey confirming the presence of oil generating source rocks are very encouraging as we initially considered the area to have a high probability of being only gas prone. We look forward to executing the next phase of our exploration activity with the acquisition of additional soil gas samples.”

Frontier Resources now has plans to extend the licence period so that additional sampling may take place this year. This new soil gas data will be used to further assist in delineating potential oil-prone areas that will be high-graded for 2D seismic acquisition and the integration of pertinent geologic data.

Alain Charles Publishing, University House, 11-13 Lower Grosvenor Place, London, SW1W 0EX, UK
T: +44 20 7834 7676, F: +44 20 7973 0076, W: www.alaincharles.com

twn Are you sure that you want to switch to desktop version?