THE Namibia Thread (merged)
Posted: Tue 20 May 2008, 01:21:57Somewhere in the Brazil thread several months ago I posted an article pointing out that if there's lots of oil in the Santos basin in Brazil, there is almost certainly lots of oil offshore Namibia. Well, speak of the devil.
LINK
LINK
Arcadia 2D shows 10-billion-bbl prospects off Namibia Uchenna Izundu, International Editor:
LONDON, May 17 -- Arcadia Petroleum Ltd., operator of License 0010 off northern Namibia, has completed interpretation of 2D seismic shot in September 2007 that it's partner Tower Resources PLC, says confirms the presence of giant structures that could contain as much as 10 billion bbl of oil, unrisked, from three prospects.
The seismic data indicate a great probability that they would be oil bearing, Tower Resources said. Large volumes of associated gas would also be present.
These volumes have not been discounted for exploration risk. "Amplitude Variation with Offset analysis and geological modelling have pointed to three sandstone reservoirs up to 50 m thick which correlate with sandstones in the two exploration wells drilled in the 1990's," reported Tower Resources, whose unit Neptune Petroleum (Namibia) Ltd. holds a 15% interest in the prospect. However, there was no suggestion of hydrocarbons in those wells, it added.
Arcadia plans to drill a well within 2 years after gathering more seismic over the prospects.
According to Tower Resources, the Alpha structure had a four-way dip closure, indicating a maximum area of more than 600 sq km. The data suggested another four-way dip closure on the Gamma structure which, if confirmed, would define a prospect covering more than 1,700 sq km.
Tower Resources said, "Reservoir sands are interpreted to be stacked channel sands having laterally variable reservoir characteristics but high-quality over significant areas."
