NewAge have operated the Algoa-Gamtoos licence since 2009 and collected 2D and 3D seismic over the licence.
The Algoa-Gamtoos licence consists of three prospective basins, Algoa to the east, Gamtoos to the west and the Outeniqua deepwater rift oil play to the south.
Historical exploration on the shelf proves that the Algoa-Gamtoos basins have a working petroleum system, but to fully understand and exploit these syn-rift basins more seismic data and new exploration concepts are required. In the adjacent licence, Total recently announced the Brulpadda-1AX well as a major gas condensate discovery with 57 metres of net pay.
Lower Cretaceous paleogeography showing Algoa-Gamtoos licence relative to Brulpadda discovery
The Outeniqua Basin, where the discovery was made, extends into the deepwater section of the Algoa-Gamtoos licence at similar depths and a lead identified by NewAge in the licence is analogous to the discovery well and contributes 1.1 billion mean STOIIP of current leads.
NewAge will enter the next exploration period in 2020/21 with a seismic acquisition programme likely and will be looking for partners to help explore this exciting block.
Tower Resources (50%)
No wells drilled to date by NewAge
Full 2D and 3D seismic acquired
Structural setting showing deep and shallow water leads
Cross section across basin showing structural style
New Age in South Africa
Algoa Gamtoos Technical Cooperation Permit granted2011
Algoa Gamtoos Exploration Permit granted2013
NewAge farm-out 50% of licence interest
Algoa Gamtoos 2D regional seismic survey completed
Algoa Gamtoos 3D seismic survey completed2017
Algoa Gamtoos First renewal period effective2020
Farm-out process ongoing and seismic reprocessing complete. Application for entry into Second Renewal Period awaiting approval