Africa-focused independent explorer Impact Oil and Gas has raised US$12.3 million, which is plans to spend on subsurface work, including 3D seismic survey covering approximately 1900sq km, offshore Namibia.
In Namibia, Impact Oil and Gas operates Blocks 2913B, with 85% interest. The block covers 9000sq km, 300km offshore southern Namibia, immediately adjacent to the South Africa maritime boundary.
Block 2913B is 150km west of the Kudu gas field, but recent exploration wells along the outer fringes of the Orange Basin have demonstrated that there exists a rich oil prospective zone running through the block, says Impact.
Impact has already acquired new 2D seismic data, which identified a number of prospects and leads. The 1900sq km 3D seismic program started on 2 December 2016.
Mike Doherty, Executive Chairman of Impact Oil & Gas said: “Over the last 18 months we successfully farmed out our AGC block (offshore Guinea Bissau and Senegal) to Woodside Energy, welcomed Statoil into the Tugela South Block, South Africa, that we share with ExxonMobil and extended our acreage position in South Africa through the award of a Technical Cooperation Permit across the Orange Deep Basin Deep Block, offshore South Africa.
“Today’s financing is a further endorsement from our shareholders in our strategy and we would like to thank them for their continued support.”