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Africa Energy Announces Signing of Rig Contract for Block 2B
Africa Energy Announces Signing of Rig Contract for Block 2B Canada NewsWire ...
About this update from Africa Energy Corp.
[{"type":"text","content":"\n \n \n \n Africa Energy Announces Signing of Rig Contract for Block 2B\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n VANCOUVER, BC\n \n ,\n \n March 3, 2022\n \n /CNW/ -\n \n Africa Energy Corp.\n \n (TSXV: AFE) (Nasdaq First North: AEC) (\"Africa Energy\" or the \"Company\"), an oil and gas company with exploration assets offshore\n \n South Africa\n \n and\n \n Namibia\n \n , is pleased to announce that the joint venture partnership for Block\n \n 2B\n \n offshore\n \n South Africa\n \n has contracted the Island Innovator semi-submersible rig to drill the Gazania-1 well by\n \n October 2022\n \n .\n \n View PDF Version\n \n .\n \n \n \n Garrett Soden\n \n , Africa Energy's President and CEO, commented, \"We are pleased to secure the Island Innovator rig to drill a high-impact oil exploration well this year on Block\n \n 2B\n \n . The block has significant contingent and prospective resources in shallow water close to shore and includes the A-J1 discovery from 1988 that flowed light sweet crude oil to surface. Gazania-1 will target two large prospects seven kilometers up-dip from A-J1 in the same basin as the recent Venus and Graff discoveries.\"\n \n \n Block\n \n 2B\n \n is located offshore\n \n South Africa\n \n in the Orange Basin where both Total and Shell recently announced significant oil and gas discoveries offshore\n \n Namibia\n \n . The block covers 3,062 square kilometers off the west coast of\n \n South Africa\n \n 300 kilometers north of\n \n Cape Town\n \n with water depths ranging from 50 to 200 meters. Oil was discovered and tested by Soekor in the A-J1 borehole drilled in 1988. Thick reservoir sandstones were intersected between 2,985 meters and 3,350 meters. The well was tested and flowed 191 barrels of oil per day of 36-degree API oil from a 10-meter sandstone interval at about 3,250 meters. Significant prospectivity has been identified over the entire A-J graben area using 686 square kilometers of 3D seismic data acquired in 2013.\n \n \n Africa Energy has a 27.5% participating interest in Block\...