88 Energy says its next phase of work on Petroleum Exploration Licence (PEL) 93 in the onshore Owambo Basin will focus on assessing prospectivity across the block and identifying future drilling locations during the first half of 2026.
The update follows the completion and processing of 200 kilometres of 2D seismic data by the PEL 93 operator, which the company said had revealed notable structural features within the largely underexplored basin.
According to 88 Energy, the upcoming programme will also include preparatory work for a planned multi-reservoir exploration well. The company said this would depend on the final outcomes of seismic interpretation and joint-venture funding arrangements. It added that the proposed well is intended to target several formations, reflecting growing confidence in the basin’s potential.
“We will also incorporate aero-gravity data and results from nearby peer drilling into our evaluation. During the first half of 2026, our focus will be on assessing prospectivity and selecting the drilling locations,” the company said.
88 Energy also pointed to neighbouring activity by ReconAfrica as further evidence of the basin’s promise. The company noted that ReconAfrica’s Naingopo-1 well had intersected more than 50 metres of net reservoir, while drilling at the Kavango West 1X well had recorded multiple oil and gas shows, supporting signs of an active petroleum system.
88 Energy holds a 20 percent non-operated working interest in PEL 93, which spans about 914,000 net acres.
