Namibian independent oil and gas explorer Custos Energy has released an update on the second exploration and appraisal campaign on blocks 2813A and 2814B located in Namibia’s highly prospective Orange Basin.

The two blocks are governed by Petroleum Exploration License 83 (PEL 83) which is operated by SGPS, a subsidiary of Galp Energia (Portugal), with an 80% working interest. Custos Energy, and the National Petroleum Corporation of Namibia, NAMCOR, each holding a 10% working interest. Canadian public oil and gas exploration company Sintana Energy maintains an indirect 49% interest in Custos Energy, equating to an indirect 4.9% interest in PEL 83.

According to Custos Energy’s media statement on February 25, PEL 83 joint venture (JV) partners have successfully drilled, cored and logged the Mopane-3X well (Well #5) on PEL83 which spud on January 2.

The Mopane-3X well, situated about 18 kilometres from the initial Mopane-1X well, explored two stacked prospects, AVO-10 and AVO-13, along with a deeper sand formation. It is located in the southeastern section of the Mopane complex at an estimated water depth of 1,200 metres. The two geological prospects were identified using Amplitude Versus Offset (AVO) analysis, a seismic technique in hydrocarbon exploration.

“Preliminary data confirmed significant columns of light oil and gas-condensate in high-quality sandstones across AVO-10. Further, the presence of light oil columns has been confirmed in AVO-13 and the deeper sand, again in high-quality sandstones,” Custos said.

According to the statement, reservoir log measurements indicate good porosity, high pressure, and strong permeability. Early fluid samples suggest low oil viscosity with minimal CO₂ and H₂S levels, though further laboratory testing is underway.

The unexpectedly high pressures and initial findings at Mopane-3X open up more exploration and appraisal opportunities in the southeastern part of the Mopane complex. All collected data will be incorporated into the reservoir model to guide future plans. Meanwhile, the 3D seismic survey for development is progressing as planned and is expected to finish in Q1 2025, with data processing to follow.

“These additional discoveries in an entirely new section of Mopane further demonstrate the scale and quality of the complex. An emerging clarity on the multi-phase potential of Mopane is underpinned by this world-class asset,” said Knowledge Katti, chairman and CEO of Custos and a director of TSXV-listed Sintana. “We congratulate our Joint Venture partners on another safe and successful outing. We are uniquely positioned at the heart of this hydrocarbon province,” he added.

Indigenous explorer Custos is focused on attracting investment and expertise to the Namibian offshore industry. Founded over a decade ago by Knowledge Katti, Custos is developing its portfolio with international partners for the benefit of all Namibians.