NAMCOR, the
Sintana
PEL 82 governs blocks 2112B AND 2212A located in the
Approximately 70% of total block area is covered by existing seismic - over 3,500 km of 2D and 9,500 km2 of 3D data.
Previous drilling activity on PEL 82 includes the Murombe-1 and Wingat-1 wells.
Results confirmed the regional extension and presence of the Barremian-Aptian oil-prone source rock (Kudu shale).
The Murombe-1 penetrated the Baobab sands returning approximately 20% porosity.
The Wingat-1 well recovered 38-41 degree API oil to surface.
'We are pleased to announce the continuing expansion of our in-country partnership with
'The expanding partnership with
In conjunction with the farm-in, Custos is pleased to announce that it has entered into a co-operation agreement with the
ABOUT
The Company is engaged in petroleum and natural gas exploration and development activities on five large, highly prospective, onshore and offshore petroleum exploration licenses in
Contact:
Tel: 212-201-4125
Forward-Looking Statements
Certain information in this release are forward-looking statements. Forward-looking statements consist of statements that are not purely historical, including statements regarding beliefs, plans, expectations or intensions for the future, and include, but not limited to, statements with respect to potential future farmout agreements on PEL 83 and/or PEL 87, and proposed future exploration and development activities on PEL 83 and/or PEL 90 and neighbouring properties, as well as the prospective nature of the Company's property interests. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements, including, but not limited to risks relating to the receipt of all applicable regulatory approvals, results of exploration and development activities, the ability to source joint venture partners and fund exploration, permitting and government approvals, and other risks identified in the Company's public disclosure documents from time to time. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. The Company assumes no obligation to update such information, except as may be required by law.
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