Namibian OperationsLicence overview

Prospect portfolio includes several large structural traps and combination structural/stratigraphic closures in three different geological settings
Prolific hydrocarbon generation is proven in the Orange basin with the giant Kudu gas field, demonstrably sourced from an oil prone, but locally over mature source rock
Extensive seabed gas hydrates, gas chimneys and other Direct Hydrocarbon Indicators (DHIs’), all positive indicators of both gas and oil generation
Past drilling, even where unsuccessful, has revealed interbedded sandstone and shale intervals providing multiple sealed reservoir target levels for future exploration
Despite poor trap development on the shelf, discoveries have been made and oil shows encountered proving a petroleum charge system