Rhino Resources commences its operated exploration programme offshore Namibia

Rhino Resources (‘Rhino’ or ‘the Company’), a privately-owned company focused on delivering low-cost energy solutions to the African continent, is pleased to announce the commencement of its operated drilling campaign on Block PEL 85, offshore Orange Basin, Namibia.

The company is excited to announce the spud of the Sagittarius 1-X well using the Noble Venturer drillship. This deep-water well, in water depth of circa 1,400m, is estimated to take 45 days to drill and is the maiden well in a two well program to be drilled back-to-back with possible additional activities that could be triggered subject to well results.
The licence, PEL 85, is located immediately to the east of the Shell operated PEL 39 and southeast of the Galp operated PEL 83, location of the recent Mopane discoveries. While geographically near to the discoveries of Shell and Galp, the Sagittarius prospect’s multi-stacked reservoirs represent the testing of different elements of the play fairway in an up-dip position within the basin.

Rhino Resources is operating the well on behalf of itself and its Joint Venture partners being Azule Energy, NAMCOR (Namibia’s National Oil Company) and local company Korres Investments. Rhino’s drilling department will be supported by EXCEED, a leading well management specialist with an impressive track record for delivering safe drilling across the African continent and most recently overseeing the drilling of Galp’s wells on PEL 83.

Commenting on the spudding of the well, Rhino’s CEO Travis Smithard said:

“This is a very exciting moment for Rhino and our partners as we reach the culmination of almost a decade’s worth of work in the region. During that time, we have accelerated investment to progress our understanding of the subsurface, and in parallel, have seen the basin become one of the most exciting postcodes for exploration drilling. This has enhanced our confidence in the impending drilling programme though we remain grounded in our pragmatism given this is frontier exploration.

As the operator of a multi-well programme, our focus is to demonstrate excellent operational and environmental stewardship by delivering each well in a safe and cost-effective manner on behalf of our partners and wider stakeholders.”

Media Contacts:
Burson Buchanan: energy@buchanan.uk.com
Ben Romney / Barry Archer
+44(0) 207 466 5000

About Rhino Resources
Rhino Resources is a Cape Town based, privately-owned company focused on organic and inorganic growth to become a leading Independent E&P company. The pursuit of energy equality and a just energy transition underpin the company’s vision and purpose. In South Africa, Rhino is exploring onshore for biogenic gas, helium and native hydrogen. Our ambition is to play a role in unlocking the energy potential of South Africa by supplying dispatchable resources required to enable largescale renewable energy adoption. In Namibia, Rhino operates the offshore exploration licence PEL85 in the prospective Orange Basin. Our Senegalese subsidiary is positioned in the AGC sector with two offshore exploration licences Blocks Ultra Profond 3 and 4.