Stamper Oil & Gas Corp. highlights recent new entrant activity on Petroleum Exploration Licence (“PEL”) 104 offshore Namibia in the Lüderitz Basin sit adjacent to Stamper’s PEL 107 and PEL 102 assets supporting the Company’s strategy of holding four PELs in three of Namibia’s four offshore Basins.
Grayson M. Andersen, Chief Executive Officer of Stamper commented: “With TotalEnergies and Petrobras entering the Lüderitz Basin offshore Namibia, it confirms our strategy of acquiring high quality oil and gas exploration assets offshore Namibia, in proximity to PELs operated by supermajors. Our PEL 107 (32.9% working interest) asset in the Orange Basin sits adjacent to PEL 90 operated by Chevron, and now adjacent to PEL 104 operated by TotalEnergies. Our PEL 102 (20% carried interest) asset in the Lüderitz
Basin is also adjacent to PEL 104. The entry of Petrobras as a working interest partner in PEL 104 alongside TotalEnergies, supports our thesis that Namibia will continue to attract new entrants as additional technical data is acquired leading to more exploration wells drilled across multiple basins.”
Stamper’s strategy from the outset has been to acquire high quality blocks offshore Namibia in multiple basins which have the potential to be as good or better than the results obtained to date in the Orange Basin. With PELs in each of the Orange Basin (PEL 107), the Lüderitz Basin (PEL 102) and the Walvis Basin (PEL 106 and PEL 98), we are well positioned to create value from not only the activities on our PELs which includes the acquisition of seismic data, farm outs and eventually drilling of exploration wells, but also from the activities of others offshore Namibia. With the farm in transaction on PEL 104 from TotalEnergies and Petrobras in the Lüderitz Basin it provides new entrants to a basin with large exploration potential.
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Author: admin
Managing the Namibia Oil and Gas Platform