With a history of oil seeps, LEKOIL is now working to prove and quantify the reserves held within the block.
To date, we have completed the acquisition of the block and made the requisite government payments. The Technical Advisory Committee has met with the Namibian government, and our technicians are currently reviewing historic seismic and well data. In September 2016, we received a one year extension to the licence with no additional obligations. We intend to commence seismic acquisitions within 24 months.
|LEKOIL stake||77.5% owned by LEKOIL Namibia|
|Reserves||Prospective basin with history of oil seeps|
|LEKOIL operating status||Operated stake|