Completion of 3D seismic survey on Guy Block, offshore Namibia

AziNam, the offshore Namibia focused exploration company, has completed a 3D seismic survey on PEL 34, the Guy Block, offshore Namibia. The Survey is located in the Walvis Basin and was conducted by PGS Geophysical. The Survey took just over three weeks to complete and covered an area of approx. 870 km2.
The current working interest positions in the Guy Block, are as follows: AziNam 40% (Operator); Eco (Atlantic) Oil & Gas 50%; Namcor 10%.
AziNam Managing Director, David Sturt, commented:

‘Completion of the 3D survey, announced today, is another step forward for the Company and its partners. The Survey is one of four surveys we have acquired within the last 12 months and remains in line with our strategy towards establishing AziNam as a leading Namibia-focused exploration company.
‘As the Operator of the Guy Block, we remain committed to high quality data and have once again utilised world class technical analysis, provided with the PGS GeoStreamer system, which will enable us to identify and prove our block targets. We are delighted to continue working with our partners, Eco (Atlantic) Oil & Gas and Namcor, and make further progress in our exploration programme for 2016.
‘AziNam currently has interests in a total of 6 licences, offshore Namibia, with low cost exposure to this under-explored oil and gas province which has attracted a great deal of industry attention from a number of major international oil companies including Shell, Tullow, OMV and Murphy Oil.’

Source: AziNam Ltd
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