New exploration discovery at Mopane 3-X
Custos Energy provided a further update regarding the second exploration and appraisal campaign on blocks 2813A and 2814B located in the heart of Namibia’s Orange Basin. The PEL 83 Joint Venture partners have successfully drilled, cored and logged the Mopane-3X well (Well #5) on PEL83, which spud on 2 January 2025.
Mopane-3X, located 18 km from the first Mopane-1X well, targeted two stacked prospects, AVO-10 and AVO-13, as well as a deeper sand, in the southeast region of the Mopane complex at an approximate water depth of 1,200 m.
Preliminary data confirmed significant columns of light oil and gas-condensate in high-quality sandstones across AVO-10. Further, the presence of light oil columns have been confirmed in AVO-13 and the deeper sand, again in high-quality sandstones.
Reservoir log measures confirm good porosities, high pressures and high permeabilities. Initial fluid samples show low oil viscosity and minimum CO2 and H2S concentrations. Samples have been sent for lab testing.
All acquired data will be integrated into the reservoir model and support the planning of potential further activities. The proprietary 3D development seismic acquisition campaign is on track to be completed in Q1 2025, with processing of the information acquired to follow.
