African energy explorer Rhino Resources on Wednesday announced a high liquid-yield gas condensate discovery offshore Namibia, releasing the results of its Volans-1X exploration well.
"The well found 26m of net pay in rich-gas condensate bearing reservoirs, with the reservoir showing excellent quality petrophysical properties and no observed water contact," Rhino Resources said in a statement.
The exploration company released the results on behalf of the Petroleum Exploration License 85 (PEL85) joint venture that also includes Azule Energy (42.5 per cent), NAMCOR (10 per cent), and Korres Investments (five per cent).
PEL85, where the well was drilled on Block 2914A, is operated by Rhino Resources with a working interest of 42.5 per cent.
"This is our third consecutive hydrocarbon discovery on the Block and further enhances our understanding of the sub-surface," said Travis Smithard, chief executive of Rhino Resources.
(Reporting by Wendell Roelf; Editing by Alexander Winning)