General Thoughts, page-8018

It does look likeBP/ENI has been down playing drilling results from Sagittarius-1X!

I wonder why?

See article below.

“Sagittarius-1X, drilled by the NobleVenturer drillship in Block 2914 in PEL85, is said to have delivered paywithin Upper Cretaceous targets, with no observed water contact.”

I am speculating that BP/ENI are both sharpening their pencils on a joint bid for the 40% ofMopane and PEL 83 that GALP is selling given the proximity of Saggitarius-1X to the Mopane-3X oil discovery!

Perhaps the Saggitarius-1X oil bearing Cretaceous sands wrap around the northern part of the Cullinan carbonate bank high (oil bearing but very tight carbonate at Cullinan-1) and tie into the Mopane oil field complex. Remember, I am speculating here, that BP/ENI would have visited the GALP data room when GALP were looking for a buyer for their 40% of PEL 83 before BP/ENI drilled Saggitarius-1X. Just call me cynical!!

I am sure that BP/ENI would have an AMI (area of mutual interest) Agreement, so that one doesn’t run off and white ant the other by buying adjacent acreage without telling/offering participation to the other after they both spent serious dollars farming into Rhino Resources permit by drilling Saggitarius-1X and now the follow on Capricornus-1X. There must be an astrologer fan in that JV!

Good to see Mopane getting press in the widespread industry magazine “Offshore Oil”

All positive news to keep investor focus on future drilling in the Offshore Orange Basin for when Woodside/PCL/Sintana get around to drilling Oryx and Hyrax.

Risk in everything, especially wildcat oil exploration and development drilling.

From:Offshore <[email protected]>
Sent: Wednesday, 26 February 2025 8:01 PM

Galp, RhinoResources wells offshore Namibia both make discoveries

Feb. 26, 2025

Galp has provenmore oil at Mopane, while Rhino Resources has discovered hydrocarbons atSagittarius.

Jeremy Beckman

ID 190550423 © Bogdan Zhorov | Dreamstime.com

Courtesy Sintana Energy

Galp has proven light oil andgas-condensate with its latest appraisal well on the Mopane discovery offshoreNamibia.

Mopane-3X (Well #5),in PEL83 in the Orange Basin, was drilled in 1,200 m water depth, 18 km fromthe Mopane-1X discovery well.

It was designed totarget two stacked prospects, AVO-10 & AVO-13, and a deeper sand in thesoutheast region of the Mopane complex.

Initial analysisconfirmed significant light oil and gas-condensate columns across AVO-10, andlight oil columns on both AVO-13 and the deeper sand, in good-qualitysandstones.

Logging results alsoshowed good porosities, high pressures and high permeabilities, while fluidsamples revealed low oil viscosity and minimal CO₂ and H₂Sconcentrations.

These results,and Mopane-3X’s higher-than-estimated pressures, suggest there are further exploration and appraisal opportunities in Mopane’s southeast region, Galp said.

All acquired data willbe integrated into the reservoir model to support the planning for potentialnext-phase activities. A current 3D development seismic acquisition campaignshould be completed next month, followed by processing of the data.

Other partners in the license arestate-owned NAMCOR and Custos.

Source: Westwood Wildcat

ID 50416791© Rawpixelimages | Dreamstime.com

Courtesy Rhino Resources

Rhino Resources well encounters hydrocarbons

Last week, RhinoResources reportedly found hydrocarbons with its first exploration welloffshore Namibia.

Sagittarius-1X, drilled by the NobleVenturer drillship in Block 2914 in PEL85, is said to have delivered pay within Upper Cretaceous targets, with no observed water contact.

Noble Venturer has since relocated to drill asecond well for Rhino and partner Azule Energy on the Capricornus prospect,testing a NE-SW trending channel system on a different fairway.

Block 2914 is south ofMopane and northwest of Total’s Venus oil discovery.

Courtesy Welligence Energy Analytics