Nabirm Signs with Badoer Investments
May 4th, 2021
Badoer Investments through its crypto company 4chanCoin has signed an agreement with Nabirm Global, a licence holder in Namibia. Badoer Investments Ltd is an Equity and Investments Company with global ambitions domiciled in Dubai and with a registered Branch Office in Nairobi, Kenya.
Nabirm owns an exploration licence offshore Namibia and is exploring the implementation of blockchain technology to improve efficiencies in upstream exploration financing.
Ricardo Badoer, Chairman of the Badoer Investments commented: “Important advances in technology rarely come with a full embrace at the start.Perhaps most importantly, who will be the first out of the blocks, the first mover able to set the agenda and drive the format”.
Olayinka Arowolo CEo of Nabirm commented: “There is a strong and unmistakable momentum regarding blockchain technology in other industries, notably banking, technology, and, increasingly, health care and the life sciences.The pivot point for oil and gas will be where potential and practicality intersect”.
Badoer is an equity partner in Nabirm.
Nabirm Signs MOU with Wildcat Petroleum.
April 23, 2021
Nabirm is pleased to announce that it has signed a Memorandum of Understanding (“the MoU”) with Wildcat Petroleum plc (LSE: WCAT). Widlcat is targeting investment opportunities in businesses and assets within the upstream sector of the petroleum industry, and exploring the implementation of blockchain technology within the sector, for their potential participation in any future Initial Coin Offering (“ICO”) that Wildcat may launch.
Mandhir Singh, Chairman of Wildcat, commented: “This is the second MOU we have signed in a matter of days and there is still a pipeline of similar expressions of interest to work through. This MOU combined with the Crown MOU Crown Energy AB (publ) signed earlier this week gives WCAT the potential to tokenise over 11 billion barrels of oil.”
Olayinka Arowolo CEO of Nabirm, commented: ” The diligence suggests that Wildcat’s proprietary model and the potential ICO is an innovative way to add value to early stage assets. The model is based on block chain technology and we are confident in the potential deliverables for the oil and gas industry, the upstream sector in general, our business model in particular and for all our stake holders in the near future”
Nabirm Upbeat on recent activity in Namibia.
July 28, 2020
Nabirm notes an announcement from Global Petroleum (“Global”) of updated prospective resource estimates for its licence PEL 94, covering block 2011A this month. Global estimated that its Welwitschia Deep Albian carbonate prospect had best estimated unrisked gross prospective resources of 671 million barrels of oil. The estimate, classified in accordance with the Society of Petroleum Engineers’ Petroleum Resources Management System, is based on a reinterpretation of existing 3D data which Global licensed from Namibia’s state oil company Namcor, taking into account recent well results in the area.
In a statement, adjacent operators Tower Resources (“Tower”) observed that this figure corresponds to the portion of the prospect on block 2011A, and noted that approximately 25% of the Welwitschia structure lies in their block 1911, which is covered by Tower’s license PEL 96. Although this proportion is an estimate made without the details of Global’s detailed reinterpretation, it would imply that the total Best Estimate unrisked gross prospective resources of the Welwitschia Deep prospect’s entire structure would be in the region of 895 million barrels. Of this, approximately 224 million barrels would lie in block 1911, of which approximately 179 million barrels would be attributable to Tower.
CEO of Nabirm Olayinka Arowolo comments:
“Nabirm awaits with great interest the outcome of further work, such as Towers and Global’s, and also further wells being drilled in Namibia, including Shell’s well on licence PEL 39 and Total’s Venus well, all of which will enhance our own basin modelling and prospect evaluation.”
EMGS announces firm survey commitment for Nabirm in Namibia.
Proprietary acquisition for Nabirm
ExxonMobil adds to its Namibia offshore exploration acreage.
May 2nd, 2019
Nabirm, the oil and gas exploration company with petroleum exploration license (“PEL”) 58 in Namibia, notes articles in various publications on reporting that Exxon has signed an agreement with the government of Namibia and the National Petroleum Corporation of Namibia (NAMCOR) for blocks 1710 and 1810, and farm-in agreements with NAMCOR for blocks 1711 and 1811A. The blocks extend from the shoreline to about 135 miles (215 kilometers) offshore Namibia in water depths up to 13,000 feet (4,000 meters). ExxonMobil began exploration activities in 2018, with the acquisition of 3D seismic data on PEL 82 an acreage to Nabirm’s PEL 58 in the Walvis Basin.
Olayinka Arowolo Chief Executive Officer of Nabirm commented: ” Exxon’s decision to add to its exploration acreages in Namibia is encouraging in light of last years dry holes. As we continue our exploration efforts on PEL 58, we will continue to closely monitor these developments, and closely monitor France’s Total and its Venus well in Namibia’s ultra-deep offshore that is expected to be spud later this year. The ultra-deepwater wildcat will target 2 billion barrels of oil in a giant Cretaceous fan play, close to the South African maritime boundary. This giant prospect has multi-billion barrel potential. Its 3,000 meters water depth will be a record for Africa”.
The Redefined Epicenter of the Walvis Basin.
March 31, 2019
At a September 2018 public oil and gas symposium in Namibia, two renowned German geoscientists, Drs. Martin Neumaier and Ansgar Wanke concluded that the predicted present day early Aptian source rock maturity model (Bray, et al, 1998) appears to be outdated and incorrect. Neumaier and Wanke suggested that source rock maturity in the Walvis Basin is to the east in shallower offshore precincts closer to the shore. As part of the thread of geological evidence to support their findings, they stated that the “overburden,” which is east of oil prospects drilled in the Walvis Basin in 2018, supports the theory of migration of hydrocarbons (oil) to the east especially if the sands stringers are continuous. ExxonMobil, Nabirm, Tullow & Eco Oil operate the blocks that presently fall within this newly defined, highly prospective, epicenter for oil exploration.
Olayinka Arowolo, Chief Executive Officer and co-founder of Nabirm commented: ” In December 2018, Dr. Wanke analyzed Nabirm’s 2D seismic data. In March 2019, he affirmed the migration model he and Dr. Neumaier presented to the Namibian government in September. Nabirm will continue to conduct its geotechnical work to further de-risk the prospects for recoverable oil resources in Block 2113A. For the time being, we make no conclusions from the recent wells drilled regarding source presence/maturity and seal integrity as analysis of the well logs and drill chips is still ongoing. Therefore our next steps will be a thorough interpretation of the seismic west of 2113A, including a maturity model, migration simulation and acquisition of 3D.”
Drilling announcements for adjacent acreages to Nabirm’s PEL 58 in the Walvis Basin, Namibia.
July 28th, 2018
Nabirm, the oil and gas exploration company with petroleum exploration licence (“PEL”) 0058 in Namibia, notes articles in various publications on reporting that British Tullow Oil and London-listed Chariot Oil & Gas have contracted the services of offshore drilling contractor Ocean Rig, whose drilling ships, especially the Poseidon, have searched for oil in Angolan and Tanzanian waters. Both companies are set to drill certain prospects in adjacent acreages to Nabirm’s PEL 58 in the Walvis Basin.
Further, a recent announcement by Shell Namibia that it plans to drill two exploration wells in 2019 has also fuelled expectations that the drilling activities of Ocean Rig might continue throughout next year. Chariot Oil & Gas has also stated via it’s CEO Larry Bottomley that “Ocean Rig Poseidon is to drill Prospect S in the Walvis Basin which is a possible high impact well targeting an estimated 459 million barrel prospective resource, with an estimated probability of geologic success of 29,” Chariot is poised to spud in October after Tullow’s efforts in September 2018. Consequently Eco Oil & Gas, the dual-listed Canadian junior has also begun preparations for drilling prospects in its PEL 30 also in the Walvis Basin.
Olayinka Arowolo Chief Executive Officer of Nabirm commented: “As we continue our exploration efforts on PEL 58, we will continue to closely monitor these developments, obviously a discovery by either Tullow, Eco, Chariot or Shell will have a material impact on Nabirm moving forward.”
Nabirm notes recent activity in adjacent license area 0037 in the Walvis Basin, Namibia.
Nabirm receives government approval to enter the next exploration phase on Namibian license 58 on block 2113A onshore/offshore Namibia.
August 9th, 2016
Nabirm. (” the Company”) is pleased to announce that, as a result of meeting and exceeding its exploration work obligations, it has requested and received approval from the Namibia Ministry of Mines and Energy (“Ministry”) relating to Block 2113A (PEL 0058) onshore and offshore Namibia. Block 2113A (PEL_0058) Exploration License (PEL) 58, Block 2113A, offshore Erongo Province, Namibia. The license block covers 5,750 km2 located inboard of Tullow/Pancontinental‟s PEL 37 Block and adjacent to EcoAtlantic‟s CBM Blocks 2013B, 2014B & 2114.
In recognition of the Company and its partner NAMCOR, having met and exceeded all obligations of the Initial Exploration Period as stipulated in the Petroleum Agreement (“Petroleum Agreement”), in Block 2113A, the Ministry has approved the entering into the next phase of the license. The license has been extended into the first Renewal Phase until the 13th of July 2018. The second Renewal phase is until July 2020. In further recognition of the advancement of the exploration progress made on Block 2113A, including over 684 line kilometers of a 2D survey, the Ministry has waived the relinquishment requirement (as stipulated in the Petroleum Agreement), and the Block partners will continue the exploration work on the entire block area.
Olayinka Arowolo, Chief Executive Officer and co-founder of Nabirm commented: “We are extremely pleased with the Ministry’s positive decision to support our progression into the next exploration phase on block 2113A onshore/offshore Namibia. Despite the market forces that have an adverse effect on the upstream sector, our continued financial and operational commitment to Namibia’s petroleum industry has been recognized by the Government, hence the approval to enter the next exploration phase. Together with our partners NAMCOR, we are in a stronger position to continue to the next phase of exploration which is the acquisition of 3D CSEM or seismic.
2D Seismic, gravity and magnetics program interpretation, block 2113A offshore Namibia.
November 10, 2015
NABIRM the Atlantic margins focused oil and gas exploration company, today announces that in conjunction with its partner NAMCOR (10%) that it has concluded the interpretation of a 2D Seismic Survey (the “Survey”) on Block 2113A (the “Block”) located in the Walvis Basin, offshore Namibia, by the U.S based ION Geophysics. The license block covers 5,750 km2, with 3,600 km2 located offshore and 2,150 km2 located onshore. BGP International using the vessel M/V BGP Pioneer acquired the survey; earlier in 2015, the same vessel completed the Ion Geophysical NamibiaSPAN 2D survey in offshore.
The M/V BGP Pioneer acquired 684 line kilometers of 2D seismic data plus shipborne gravity and magnetic data within Block 2113A. The survey was acquired with a single 9-kilometer cable towed 8 meters below the sea surface. The acquisition was completed on 20 March 2015. Parallel Geoscience processed the 2D seismic data in April and May of 2015. Ion Geophysical was contracted to perform the 2D seismic interpretation and received/loaded the processed 2D dataset into SMT/Kingdom on 6 July 2015, the final reports were published on the 4th of November 2015.
Olayinka Arowolo, Chief Executive Officer and co-founder of Nabirm commented: “ ION’s interpretation of Nabirm’s data; the established oil kitchen in the Walvis Basin confirming light 40 API degrees gravity oil; We still have significant work to do and further study is required, with shallow water depths and shallow drilling depths, we are intrigued by this very interesting Block.”
2D seismic, gravity and magnetics program conclusion, block 2113A offshore Namibia.
2D seismic, gravity and magnetics programme commencement, block 2113A offshore Namibia.
11 March 2015
NABIRM, the Atlantic margins focused Oil and Gas Exploration Company, today announces that in conjunction with its partner NAMCOR (10%), it has commenced a 2D Seismic Survey Campaign, to include Gravity and Magnetics Data acquisition on Block 2113A located in the Walvis Basin, offshore Namibia. The 2D Seismic, Gravity and Magnetics campaign has been contracted to BGP International, who will acquire the Data using the 3D vessel M/V BGP Pioneer just off a similar 2D campaign for ION Geophysical offshore Namibia.
The project scope which consists of a FIRM 684 full fold km of 2D marine seismic data acquisition shall include renewed Gravity and Magnetics Data acquisition in the Block. The objective is to produce a high resolution and accurate image of the subsurface features to further enhance our understanding and evaluation of the identified existing plays and highly promising targets. The survey vessel M/V BGP Pioneer commenced survey activities on March 10th for a period of 14 days.
Olayinka Arowolo, Chief Executive Officer and co-founder of Nabirm commented: “We are pleased with the continued progress of our exploration program for this license. This survey will give us an increased understanding of the structure of the basin. Once completed and processed, the 2D will further define the block for us, our partners, as well as other interested parties.”
NABIRM announces the commencement of 2D seismic.
5 March 2015
NABIRM is pleased to announce that it will commence a 2D Seismic Survey (the “Survey”) on Block 2113A (the “Block”) located in the Walvis Basin, offshore Namibia on the 11th of March 2015. The project scope consists of a FIRM PROGRAMME of 684 full fold km of 2D marine seismic data offshore Namibia in the Block. The objective is to produce a 2D seismic volume, which, following all positioning and seismic data processing will provide a high resolution and accurate image of the subsurface features to a two-way-time (TWT) of up to a maximum of nine seconds.
The Company engaged BGP International Ltd. to perform the Survey, The survey vessel M/V BGP Pioneer will commence survey activities for a period of 14 days. Nabirm holds a 90% working interest in the Block, and NAMCOR holds a 10% carried working interest.
Proposed 2D seismic survey in license block 2113a, Walvis basin, off the coast of Namibia.
January 8, 2015
NABIRM Energy Services is set to undertake a 2D seismic survey in the offshore portion of License Block 2113A, Walvis Basin, Namibia. The purpose of this survey is to investigate the subsea geology of the licensed block for the presence of oil and gas. The proposed area of the 2D seismic survey will be approximately 1,050 km in length, comprising of low density spaced survey lines spanning an area of approximately 2,500 km2. Water in the proposed survey area ranges between 50m and 150m in depth, and the distance from shore ranges between 10 and 50km.
CCA Environmental (Pty) Ltd (” CCA “) has been appointed to examine the baseline environmental conditions of the licensed survey area in order to evaluate the potential impacts of the proposed seismic survey and present the findings in an Environmental Impact Assessment (EIA). The technology being used will ensure that the integrity of the environment in and around the oil block will not have a negative impact on the environment, the wildlife ecosystem, on tourism in the area. The BID has been circulated for a two-week registration and comment period beginning January 7, and ending January 21, 2015.
Nabirm Pleased with Prospects for Oil Block 2113A in the Walvis Basin
July 22, 2013
HRT’s Drilling Results Nabirm notes the July 19, 2013 announcement from HRT Participações em Petróleo S.A. (“HRT”) regarding the results of the Murombe-1 well, which has reconfirmed the presence of an Aptian marine source in the Walvis Basin despite failing to find the presence of quality reservoir in the primary Murombe objective. Murombe-1 is the second well of a three well exploration programs being executed by HRT offshore Namibia. Murombe-1 is located in Petroleum Exploration Licence 23 in the south of the Walvis Basin, some 200 km south of Tower Resources plc’s multi-billion barrel Welwitschia-1 prospect, which is to be drilled in mid-February 2014 in PEL0010 by its operator, Repsol.
HRT announced that the Murombe-1 exploration well was drilled to a total depth (TD) of 5,729 meters with the objective of penetrating two target reservoirs. The primary target was the Murombe reservoir, a Barremian age turbidite fan system, which from wireline logging confirmed a lack of reservoir quality facies and low porosity. However, a mature Aptian marine source in the “oil window” was encountered above the primary Murombe target confirming the source previously encountered in the Wingat-1 well announced on 20 May 2013. A secondary target, the Baobab reservoir, a shallower Santonian age, channel complex, encountered a 242-meter gross section with a net-to-gross ratio of 15% and porosity of 19%, however, this was found to be water-wet. As a result, the Murombe-1 well is being prepared to be plugged and abandoned. Confirmation of Oil Presence in the Walvis Basin As observed by both Nabirm and Tower Resources plc today, the presence of oil in the Walvis Basin has been confirmed.
Recent Events in the Walvis Basin
September 13, 2013
Nabirm is pleased with the prospects for its flagship oil asset – Oil Block 2113A – in the Walvis Basin. Recent events, including the Tullow’s farm in announcement for PEL 0037 in the Walvis basin in adjacent acreages, 2012B, 2112A & 2113B all held under PEL 0037 in the Walvis Basin favor a successful outcome for Nabirm’s Block 2113A held under PEL 0057. DeGolyer and MacNaughton (“D&M”) have prepared an assessment of license area EL 0037 offshore Namibia in accordance with the Petroleum Resources Management System (PRMS) approved by the Society of Petroleum Engineers, the World Petroleum Council, the American Association of Petroleum Geologists, and the Society of Petroleum Evaluation Engineers.
D&M’s resource estimates recognize large stratigraphic leads in potential clastic turbidite targets. These targets appear to be in the oil window. These potential accumulations are categorized as “leads” based on the available seismic and geologic data. The potential accumulations are not yet classified as “prospects” that are available for drilling.
D&M’s Mean Estimate for the total 11 Leads is 8.7 Billion Barrels of Gross Prospective (recoverable) Oil Resources.
Nabirm announces the award of PEL 0058 over block 2113A in the Walvis basin Namibia.
13th July 2012
NABIRM announced that the company has been awarded a petroleum exploration license (#0058) for Block 2113A in Namibia. In July 2011, the Namibian Ministry of Mines & Energy announced an estimated 11 billion barrels in oil reserves were found off Namibia’s coast, with the first production planned within four years. The finding could put Namibia on par with neighboring Angola, whose reserves are estimated at around 13 billion barrels and whose production rivals Africa’s top producer Nigeria. According to Isaak Katali, Namibia’s Minister of Mines and Energy, HRT Oil & Gas Ltd, a Brazilian company working in the region, has raised $1.3 billion on the Brazilian stock market, with $300 million earmarked for oil and gas exploration in Namibia. Katali said that HRT has certified about 5.2 billion barrels of potential reserves in Namibia. “This finding could turn offshore Namibia into a great producer of oil and gas in a short time”, Katali said.
Olayinka Arowolo, CEO of Nabirm, commented: “Namibia has long been seen as a potential new source of oil, hampered by a lack of exploration to determine the extent of its reserves”, said Arowolo. “Its offshore geology is similar to Brazil, which is experiencing a boom in oil exploration and production. The issuance of this license in partnership with the National Petroleum Corporation of Namibia (NAMCOR) demonstrates that NABIRM is a preferred ‘partner-in-progress’ with NAMCOR as Namibia continues its exciting nation-building initiatives in the oil and gas sector”.