HRT Well This was posted on the Chariot board and I took the liberty of substituting CHAR with EOG where I found it appropriate:
Yesterday, HRT announced the spudding of their first well in Namibia in the Central Area offshore Namibia.
The well will target a carbonate reef prospect that is reported to have strong hydrocarbon indicators in the seismic.
The presence of reservoir quality carbonates are common in Angola, such as the prolific Cameia 1 well discovery. In addition reservoir quality carbonates have been found in Tapir South drilled by Chariot and in a number of wells drilled in shallower water in Namibia.
The key issue for HRT and EOG is to demonstrate the presence of mature oil source rocks as these have regional implications for oil prospectivity.
The HRT well should penetrate a Turonian/Cenomanian source rock above the carbonate reservoir, that will be important to know if its mature for oil in that area. I suspect it was these source rocks that were found to be mature for oil in Chariots Nimrod well, but were located above the Nimrod reservoir and could not charge the reservoir. If Turonian/Cenomanian source rocks are mature for oil in HRT's central block then this will help EOG select the best prospects for its Central Blocks which are nearby.
The main reservoir reservoir for HRT Wingat is expected to be charged by the Aptian "Kudu Shale " which is obviously mature for gas at Kudu in the Orange Basin, but is expected to be mature for oil in the Walvis/Luderitz basins.
To date the Turonian /Cenomanian source does not appear to have been able to charge either the Nimrod prospect in the Orange Basin or Tapir South in the Namibe basin. Accordingly, the presence of mature source rocks from this horizon in the Wingat prospect is very important to EOG's Central Area prospects.
It appears that HRT will be drilling below its tarrget reservoir, which may be looking to sample these source rocks.
HRT report strong oil seeps in its Central Area Licences, this forthcoming Wingat well should determine from which source rocks such oil seeps originate from.
The follow on well will also be in the same block and will target a deeper reservoir and source rock