Polarcus Concludes EL 0037 2D Survey for Pancontinental

Pancontinental Oil & Gas NL has advised that a second seismic survey acquisition of 1,000km of 2D data has now been completed within its highly prospective offshore acreage in licence area EL 0037 offshore Namibia, southwest Africa.

The 2D acquisition extends to the south beyond a recently completed 3D survey of approximately 3,000 square km and provides infill to existing 2D seismic coverage.

The 2D seismic coverage is intended to provide data to define new leads on-trend to the 3D area while the 3D survey is designed to prove-up a number of previously defined leads to drillable prospect status.

EL 0037 covers an area of 17,295 square km in the Walvis Basin. Offshore Namibia is considered highly prospective for oil and gas, lying south of the prolific producing areas offshore Angola, with which it shares some geological characteristics.

Polarcus Concludes EL 0037 2D Survey for PancontinentalThe 2D and 3D surveys were both managed by the EL 0037 Joint Venture operator Tullow Oil, using the seismic acquisition vessel Polarcus Asima. Tullow Oil farmed-in to EL 0037 in October 2013 and subsequently identified a number of geological Leads for coverage by the 3D survey.

Press Release, April 28, 2014

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