88 Energy Ltd told investors it has completed the 2D seismic acquisition programme onshore Namibia.
The program, which covered 203 line-kms, in the Owambo Basin, was completed on time and within budget.
Data processing is now underway, with final imaging results expected by the fourth quarter.
It is expected that the findings will be used to validate ten structural closures identified from existing airborne gravity and magnetic data.
The aim is to advance such prospects to the point where the company can commission an estimate of maiden Prospective Resources, and also identify potential drilling locations.
88 Energy, in a statement, highlighted: “the captured data is of high quality and demonstrates considerably better seismic signal strength, frequency content, and integrity.”
It added that the initial view of the data validated the company’s use of ‘Vibroseis’ technology in the programme.
The AIM-quoted explorer, meanwhile, noted that earlier this month a neighbouring operator Reconnaissance Energy Africa (Recon Africa) spudded its first well on an adjacent licence – and shortly after another firm BW Energy agreed to invest US$16 million to acquire 20% of the company whilst funding 3D seismic and a new 2-well programme.
That project, immediately to the east of 88 Energy’s acreage, is now expected to see three or four new wells drilled over the coming years.