Oil exploration comes to Owambo Basin

The search for oil in the north of the country is expanding, with 88 Energy announcing on the Australian Stock Exchange yesterday that a new two-dimensional survey campaign has been launched to explore large parts of the Oshikoto Region and a section of Ohangwena along the border with Angola.

The survey spans petroleum exploration licence 93 (PEL93) and aims to record up to 200 kilometres of seismic data by the end of the third quarter of this year. Ten possibilities for the presence of oil have already been identified by aerial magnetic data and are being targeted in the new campaign, according to 88 Energy's statement.

PEL93 spans 18 500 square kilometres.