Monitor Exploration, a privately owned UK-based junior, has struck an N$347 million (US$18.7 million) deal to farm-out a key stake in prospective exploration acreage onshore Namibia where a debut wildcat could be drilled in 2025.
The agreement is the latest indication of growing interest in northeast Namibia’s frontier basins where, in recent years, Renaissance Energy has drilled three stratigraphic wells and acquired a sizeable amount of seismic data.
Monitor Exploration Limited (MEL) is a UK private exploration company, established in 2008, for onshore Oil and Gas exploration in Africa. MEL was formed by Geodynamics WorldWide (GWW), a specialist oil service company.