88 Energy Limited plans to undertake a high-resolution airborne geophysical survey over its Petroleum Exploration Licence 93 (PEL 93) during the first quarter of 2026, as part of efforts to improve subsurface mapping and advance exploration targets within the licence area.
The company said the survey will acquire detailed magnetic and gravity data aimed at improving understanding of basin architecture and enhancing the accuracy of structural interpretation. The programme comes amid growing industry interest in the Damara Fold Belt, an emerging exploration play following recent drilling activity in the region.
By integrating the new airborne data with existing datasets, including 203 kilometres of 2D seismic acquired in 2024, 88 Energy intends to refine interpretations of several large structural leads already identified within the block. One such target, referred to as Lead 9, is estimated to cover approximately 100 square kilometres.
“As operator for the joint venture, Monitor Exploration will conduct an airborne geophysical survey over PEL 93 in 2026. The programme will acquire high-resolution magnetic and gravity data to enhance subsurface imaging, better define basin geometry and identify structural features critical to hydrocarbon prospectivity. This work is expected to materially improve prospect mapping and support the maturation of drill-ready targets ahead of future exploration drilling,” the company said in a report.
The company added that confidence in the project has been strengthened by recent drilling results on the adjacent PEL 73 licence, where ReconAfrica’s Kavango West 1X well identified approximately 400 metres of gross hydrocarbon-bearing section and confirmed 64 metres of net pay.
According to the company, structural trends associated with these carbonate reservoir targets are interpreted to extend into PEL 93, enhancing the prospectivity of eleven leads already mapped by the joint venture.
88 Energy currently holds a 20% working interest in PEL 93, with an option to increase this to 45%. The company has secured an extension of the licence until October 2026 and is progressing discussions with potential farm-in partners to support the next phase of exploration.
“The confirmation of meaningful net pay, additional hydrocarbon shows and the decision to progress to production testing at Kavango West 1X, a play type directly comparable to Monitor’s eleven mapped leads, all reinforce the potential for Otavi-hosted structural closures within PEL 93,” the company said.
