Westbridge Energy Corp., Vancouver, BC, has completed the previously announced acquisition of a 75% interest with Ropat Petroleum Investments (Pty.) Ltd. in the 1910A Relinquished, 1911A Relinquished, 1912B and 2011A Relinquished oil and gas exploration licenses offshore Namibia.
The transaction increases Westbridge’s total contiguous acreage in the Walvis basin off Namibia by 284% to 22,484 sq km. The licenses are an extension to Westbridge’s existing Block 1811B and more importantly contain oil shows in the 1911/15-1 well drilled in 1994.
Westbridge’s five blocks are 180 km north of the recent technical discovery in the Walvis basin by a Brazilian independent oil company, which demonstrates a potentially extensive and working petroleum system between the two wells, Westbridge said (OGJ Online, May 22, 2013).
Westbridge will be operator of the licenses with a 75% interest. Ropat will have a 15% carried interest, and the remaining 10% will be a carried interest held by Namibia’s state NAMCOR. Ropat is a private oil and gas company incorporated in Namibia.