Monitor Exploration says it has completed an integrated interpretation of newly acquired airborne gravity, magnetic and radiometric survey data, alongside recent 2D and passive seismic data and legacy datasets over Petroleum Exploration Licence 93 (PEL 93) in onshore Namibia.
The work incorporates earlier seismic surveys, soil gas sampling and remote sensing, combined to provide a more comprehensive understanding of the basin.
The company said the results are positive and materially improve its understanding of the subsurface, reducing key exploration uncertainties.
The integrated geological and geophysical analysis has strengthened confidence in the block’s prospectivity and supports the advancement of exploration targets beyond basic structural mapping.
“This is a significant step forward in our technical evaluation of PEL 93. The integration of gravity, magnetic and radiometric data with our prior work has strengthened our confidence in Prospect 9, which we now consider drill-ready, and has reinforced the broader prospectivity of the block. We now have a compelling inventory of targets as we move toward the next phase of exploration,” said MEL Namibia Chief Executive Robin Sutherland.
The findings also indicate favourable petroleum system elements. Evidence from nearby drilling activity, including oil and gas shows recorded in wells by ReconAfrica, points to the presence of at least one mature source rock in the basin, supported by additional legacy data.
Previous drilling in the western part of the basin has also identified both reservoir and seal formations within the Mulden and Otavi formations.
Monitor expects these to extend into the central basin area where PEL 93 is located, supporting the licence’s overall exploration potential.
Monitor said PEL 93 is well positioned to benefit from growing regional momentum, particularly from positive developments in neighbouring exploration areas.
The company believes the latest results significantly de-risk its exploration portfolio and support the next phase of drilling and evaluation.
