Recent oil exploration activities in the Orange Basin off the coast of Namibia also played out at the Toronto Stock Exchange and the Lisbon Stock Exchange.
At the Toronto Stock Exchange, Africa Oil’s shares picked up after the announcement that Impact Oil had signed a farmout agreement with TotalEnergies EP Namibia to sell 9,39% undivided interest in Block 2912 and 10,5% in Block 2913B in the Orange Basin.
See the earlier story here: TotalEnergies buys 19,89% combined interest in Impact Oil’s Blocks 2912 and 2913B in Orange Basin – The Extractor Magazine.
Africa Oil Corp. holds a 31.0% shareholding in Impact Oil and has a compelling interest of 6.2% in Block 2913B and 5.9% in Block 2912.
Impact Oil, through its wholly owned subsidiary, Impact Oil and Gas Namibia (Pty) Ltd., holds a 20% working interest in Block 2913B (PEL 56).
Impact Oil, through the same subsidiary, also holds an 18.89% working interest in Block 2912 (PEL 91), TotalEnergies as the operator holds 37.78%, QatarEnergy 28.33%, and Namcor 15%.
Africa Oil Corp shares traded at 6.7% higher, selling at US$1,90, after the farm-out transaction announcement.
At the Lisbon Stock Exchange, Galp Energia’s shares gained by 4.1% to trade at 14.44 euros after the company announced a light oil discovery in the Orange Basin’s Mopane-1X well on PEL 83 Wednesday.
Galp has an 80% interest in PEL83, with Custos and Namcor each having 10%.
See earlier stories here: Results prove Orange Basin’sBasin’s Mopane-1X is a ”significant oil discovery”: Namcor – The Extractor Magazine.
Orange Basin’sBasin’s Mopane-1X well shows signs of hydrocarbons – The Extractor Magazine
Drilling operations at the Mopane-1X well will now seek to find deeper targets before the drilling rig gets relocated, Galp said.
