Venus-1X exploration well spuds in offshore Namibia Block 2913B

London: 1st December 2021

Impact Oil & Gas Limited (“Impact” or the “Company“), a privately-owned, African-focused, exploration company, is pleased to announce the spud of the Venus-1X offshore exploration well in Namibia Block 2913B (PEL 56). This, together with the adjacent Block 2912, are held through its wholly owned subsidiary, Impact Oil and Gas Namibia (PTY) Ltd. Both blocks are operated by TotalEnergies EP Namibia B.V.; a wholly owned subsidiary of TotalEnergies.

Siraj Ahmed, Chief Executive Officer of Impact, commented: “This is an exciting moment for Impact and our shareholders. Impact, together with our partners in the Government of Namibia, have been working to mature and drill the Venus prospect since 2014. Venus-1X is a world-class, basin opening well which, if successful, could be transformative for Namibia.”

The well is being drilled in 3,000m water depth by the Maersk Voyager drillship.

Impact holds a 20% interest in Block 2913B, was joined by TotalEnergies as operator in 2017, bringing significant deep-water drilling expertise to the Joint Venture, and in 2019 by QatarEnergy. TotalEnergies holds a 40% interest in Block 2913B, QatarEnergy holds a 30% interest, NAMCOR, the Namibian state oil company, holds a 10% interest.

Impact also holds an 18.89% working interest in the adjacent Block 2912, where it is partnered with TotalEnergies (Operator 37.78%), QatarEnergy (28.33%) and NAMCOR (15%).

Block 2913B, offshore Namibia

Petroleum Exploration Licence 56, Block 2913B, is located offshore southern Namibia and covers approximately 8,215km² in water depths up to 3,000 metres.  Impact entered the licence as Operator in 2014, acquiring 2D, then 3D seismic data which defined the Venus prospect.