Exploring the Eastern Coastline of South Africa
Tuesday, February 5, 2013
Impact Oil & Gas Ltd, through its subsidiary Impact Africa Ltd, maintains an interest in four prospective areas offshore South Africa, and has built up a substantial exploration acreage position consisting of 76,000 km2 of frontier exploration blocks.
One Exploration Permit and three Technical Cooperation Permits are held:
1. Tugela Cone Exploration Right
2. Tugela Cone Technical Cooperation Permit
3. Bredasdorp Technical Cooperation Permit
4. Transkei (& Algoa) Technical Cooperation Permit
A Technical Cooperation Permit (TCP) is issued to an applicant in terms of section 77(1) of the MPRDA which allows the applicant to do desktop studies, acquire seismic data from other sources including the Agency, etc; but does not include any prospecting or exploration activities. A TCP gives the holder the exclusive right to apply for an Exploration Right.
An Exploration Right is granted to the applicant in terms of section 80 of the MPRDA to re-process existing seismic data, acquisition and processing of new seismic data or any other related activity to define a trap to be tested by drilling, logging and testing, including extended well testing, of a well with the intention of locating a discovery. An Exploration Right normally lasts for an initial 3-year period with three possible 2-year extensions – i.e. a total of 9 years.
Impact Oil & Gas Limited has built up a substantial exploration acreage position consisting of 76,000 km2 of frontier exploration blocks along the eastern coastline of South Africa.
The acreage includes the Tugela Cone:
and the Transkei/Algoa transform margin blocks and the inshore West Bredasdorp blocks – just to the west of the PetroSA producing fields in the Mossel Bay area.
Schematic plays are shown below:
This article is for information and discussion purposes only and does not form a recommendation
to invest or otherwise. The value of an investment may fall. The investments referred to in this
article may not be suitable for all investors, and if in doubt, an investor should seek advice from
a qualified investment adviser. More