Azinam to execute multi-well drilling campaign offshore Namibia

5/21/2018

WINDHOEK, Namibia -- Azinam Limited, the Seacrest Capital Group backed explorer focused on offshore Namibia, is pleased to announce that it is planning a multi-well drilling campaign over the next 24 months.

The planned drilling campaign will seek to test and verify the highly prospective acreage held by the company across the oil proven Walvis basin.

Azinam holds one of the largest acreage positions offshore Namibia, second only to NAMCOR the national oil company. Such a unique footprint ensures that Azinam is well placed to capitalize from success within the Walvis basin. Azinam’s working interests range from 20%-42.5% in its six licenses across the majority of the Walvis basin. These licenses hold over 10 Bbbl of prospective resources and are strategically positioned to allow access to the multiple play types within the basin.

Since entering the country in 2011, Azinam and Seacrest Capital Group have systematically invested in building an industry leading subsurface dataset. Azinam holds an extensive 2D seismic database which is complemented by six proprietary modern 3D broadband seismic data surveys covering a total of more than 13,000 km2. This database, in conjunction with a complete legacy well library, provides Azimuth with unmatched technical insights into the basin’s hydrocarbon potential.

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