About the Permit
Wittmeier holds a carried interest in the PEL 103 license (Block 1918B) which is located is located in the North-East corner of Namibia, in the Waterberg Basin.
The Waterberg Basin shares similarities in respect to ReconAfrica’s Kavango Basin acreage as confirmed in it’s first Stratigraphic Test well (6-2). ReconAfrica’s discovery confirmed an active petroleum system with porous and permeable sediments containing marine hydrocarbons. PEL 103 located ~55 km to the south-west of ReconAfrica contains Permian sediments that are expected to hold similar hydrocarbons.
Thick Permian Karoo Supergroup sediments are present which provide a favorable setting for hydrocarbon exploration. Waterberg Basin geology has coal and shales, 19 million tons of coal reserves were indicated within the vicinity of PEL 103 (Block 1918B). Permian source rocks are expected as well as several reservoir intervals from Permian to Triassic. Conventional targets are expected to have favorable timing of the matured source rocks. A small portion of the Basin has been drilled to date and more untested sub-basins are likely to exist.
Highlights
- Near recent ReconAfrica well in Kavango Basin which proved up reservoir quality rocks and active petroleum system.
- Modest committed work program. $700k in first 4 years.
| Partners | Participation Interest |
|---|---|
| Apprentice Investments (Pty) Ltd. | 90%* |
| NAMCOR | 10% |
* Effective Interest – On March 9th 2022, the Company completed the acquisition of 49% of Inter Oil (Pty) Ltd. resulting in an effective interest to Wittmeier Oil & Gas Engineering in PEL 103 of 15% interest.
data Snapshot
| Location | Waterberg Basin, NE Namibia |
| Area | 5860 km2 |
| Grant Date | TBD |
| Licence Term | 5 years + 2 renewal terms of 2 years |
| Magnetics | 20,000 km2 available |
| 2D/3D Seismic | NIL |
| Nearby Wells |