PEL 93 joint venture moves toward Prospect 9 drilling
The PEL 93 joint venture, in which 88 Energy holds a fully earned 20% non-operated working interest, applied to enter the Second Renewal Exploration Period for its onshore license in Namibia’s Owambo Basin, commencing 3 October 2026. The proposed two-year work program includes preparation for and the drilling of at least one exploration well.
The application follows integration of about 6,000 line-km of airborne gravity, magnetic and radiometric data, which confirmed Prospect 9, a large anticlinal structure with multiple stacked reservoir targets, as the license’s highest-ranked drilling opportunity. Operator Monitor Exploration classified Prospect 9 as drill-ready.
The joint venture proposed relinquishing 50% of the roughly 18,500-sq-km license area, exceeding the statutory minimum, to concentrate future activity around Prospect 9 and 13 other identified leads. Entry into the renewal period remains subject to approval by Namibian authorities.
