Custos Energy spuds exploration well near “basin-opening” Shell discoveries in Namibia’s Orange basin

 Custos Energy announced that the Mopane 2X exploration well located on blocks governed by Petroleum Exploration License 83 (“PEL 83”) in the heart of Namibia’s Orange basin has been spud. The Mopane prospect complex is located at the southern end of PEL 83, which is operated by a subsidiary of Galp Energia (“Galp”) of Portugal. Each of Custos and NAMCOR own 10% working interests in PEL 83 and are carried by Galp through the exploration phase.

The Mopane exploration well, which has been spud, is the first of two wells which are scheduled to be drilled by the semi-submersible rig Hercules under a contract that provides for two wells and optional testing. PEL 83 is located immediately north of PEL 39, home to Shell’s basin-opening discoveries at Graff-1, La Rona-1 and Jonker-1. Shell continues to progress exploration and appraisal activities on its blocks with an ongoing multi-well campaign through the remainder of 2023 and throughout 2024.

“The significant prospectivity of PEL 83, together with its relatively shallower water depth, position it to be one of the most significant and profitable opportunities in the Orange basin,” said Knowledge Katti, Chairman and Chief Executive Officer of Custos Energy. “The ongoing activity and progress on each of our licenses demonstrate the unmatched quality of our portfolio in the heart of the Orange Basin.” he added. “We are excited to test the extension of the proven Upper Cretaceous plays into PEL 83.” said Maggie Shino, Petroleum Commissioner at the Ministry of Mines and Energy. “We believe PEL 83 will continue to demonstrate the world-class scale and quality of plays in Namibia’s Orange basin.” she added.