Rhino Resources targets new exploration well offshore Namibia

African energy explorer Rhino Resources and its partner Azule Energy will drill the new Volans-1X exploration well offshore Namibia in late July or early August, a company spokesperson said on Tuesday.The Volans prospect is being investigated soon after Rhino Resources struck light oil in April at its second successful exploration well, Capricornus 1-X, that was drilled in the prolific Orange Basin off Namibia's coast."Testing Volans is a priority for a potential fast-track development option," a company spokesperson said, adding that its morphology could make it easier to exploit than Capricornus.The Cape Town-headquartered company is the operator of Petroleum Exploration License 85 in partnership with Azule Energy, a BP and Eni joint venture, as well as national oil company Namcor and Korres Investments."If Volans-1X fails, options include appraising Sagittarius, drilling another prospect or returning to Capricornus," the spokesperson said.Other operators that have found significant discoveries offshore the southern African country include Shell and Galp Energia. In April, Namibia received a boost on Thursday when Rhino Resources discovered "high quality" light oil in its latest well and U.S. oil producer Chevron said it was considering a new drilling campaign in either 2026 or 2027."The results ... have proven the existence of a high quality light oil bearing reservoir, with no observed water contact," Travis Smithard, CEO of Rhino Resources said in a statement at the time. African energy explorer Rhino Resources found the light oil in its second successful exploration well, Capricornus 1-X, that was drilled in the prolific Orange Basin off Namibia's coast.The well, which successfully completed a production test across the light oil-bearing reservoir, will be temporarily plugged and abandoned, it said of the latest exploration success in one of the world's hottest exploration frontiers.Rhino Resources and partners will consider post drilling analysis to determine its strategy across the block, the company said after its Sagittarius 1-X well drilled in February also intersected a hydrocarbon reservoir.

Rhino Resources targets new exploration well offshore Namibia

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Rhino Resources targets new exploration well offshore Namibia

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