HRT Spuds Its Second Well Offshore Namibia

HRT Participações em Petróleo S.A. has announced, on June 1st, 2013, the spud-in of the Murombe-1 (2212/06-1) (“Murombe-1”), the second offshore well in its back-to-back exploratory drilling campaign. This well is targeting the Murombe Prospect, located in Petroleum Exploration License 23 (“PEL-23”), in the Walvis Basin, offshore the Republic of Namibia.

 The Murombe-1 well is located 220 km northwest of Walvis Bay in 1,391 m of water depth. This well is just 15 Km east of HRT’s first well on PEL-23 (Wingat-1) which drill through two excellent oil producing source rocks from which they recovered liquid hydrocarbon. Murombe-1 will test a 1,000 km2 basin floor fan on a way4-dip closure at its highest structural elevation within a turbidite complex. The main objective of this well is to test the resource potential of Barremian aged turbidite reservoirs that have a well-defined seismic amplitude anomaly on the PSDM 3D data set. A shallower secondary objective, the Santonian aged Baobab confined channel complex with turbidite reservoirs, which is between the two oil producing source rocks, will also be penetrated.

The Boabab reservoir is expected to be encountered at 3,670 m depth below sea level and the Murombe reservoir is expected to be encountered at 5,090 m depth below sea level. Murombe-1 will be drilled to a projected total depth of 5,360 m by the semi-submersible Transocean Marianas (NYSE:RIG). The total time estimated to complete the operations is approximately 72 days.

HRT is the operator of 10 blocks offshore Namibia, which are contained in 4 Petroleum Licenses. GALP Energia  , with 14% participating interest, is HRT’s partner to drill the first 3 wells of the current exploration campaign.

“HRT is very excited to continue its Namibia exploration campaign with the Murombe well. We hope to benefit from the positive results of the Wingat-1 where source rocks and light oil were discovered. HRT is working hard to bring success to the company, its shareholders and the people of Namibia with our exploration efforts,” highlighted Milton Franke, the CEO of HRT.