Oil and gas company New Age Energy and its partner Tower Resources have entered the second exploration period of the Algoa-Gamtoos license located offshore South Africa. The work program includes the acquisition of 3D seismic data over the licence.
Tower Resources said on Wednesday that it had entered into the second exploration period through its subsidiary Rift Petroleum, together with New Age as the operator.
Tower also noted the recent announcements from Total and Africa Energy regarding the results of the Luiperd-1X well, which has reported a further significant gas condensate discovery in Block 11B/12B located in the Outeniqua basin offshore South Africa.
According to Tower Resources, the second exploration period of the Algoa-Gamtoos License will run for two years from 17 November 2020.
The work programme during this period will include a further 300 km2 of 3D seismic data acquisition in the license area.
Total’s Block 11B/12B off South Africa is located adjacent to the Algoa-Gamtoos license.
The Algoa-Gamtoos license also contains the southern deep-water basin margin of the Outeniqua Basin that was targeted by Total’s Brulpadda and Luiperd-1X wells and is approximately 150 kms along strike to the East.
Current indications are that the Luiperd discovery is larger than the 1 billion boe Brulpadda discovery announced in 2019.
The Brulpadda and Luiperd-1X wells have successfully tested the Lower Cretaceous turbidite fan play of the Outeniqua basin slope, which is interpreted to extend along strike into the southern part of the Algoa-Gamtoos block, in which New Age has identified on 2D seismic a substantial prospect.
Tower added that New Age has reprocessed the existing 2D seismic data over the license during 2020, which has yielded a considerable improvement in resolution and expects to have updated analysis and volumetrics available in January 2021.
This data will also be made available to potential farm-in partners.