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Oct 13, 2015 8:28 AM ET

Archived: AFRICA NEW ENERGIES (ANE): A new method of oil exploration tripling the probability of drilling success at a tenth of the cost

iCrowdNewswire - Oct 13, 2015




ANE has devised a new 17 layered surface exploration method for hydrocarbons and back-testing suggests this triples the probability of drilling success at one tenth of the cost. The company has received the backing from the Namibian government to test its technology on a concession, covering Blocks 2219 and 2319, – the size of Wales (22,600 km2). Evidence collected to date indicates a gross unrisked prospective resource on the blocks of 1.6 billion barrels of oil equivalent. The method is repeatable and the company plans to obtain a further 25 blocks in Southern Africa, where it plans to convert natural gas discovered into cheap, low carbon electricity.


Africa desperately needs natural gas, for a simple reason. 600 million people lack electricity and this is causing terrible poverty and chronic deforestation. Natural gas is the most cost effective base-load alternative as its capex is lower than ($0.80 per watt vs $5.00 for coal, $7.50 for nuclear and $15.00 for solar with batteries). This technology was designed to find hydrocarbons onshore in Africa, where little is known about that much of the geology. This means that the company can obtain vast acreage over entire petroleum systems at minimal cost and apply its low cost methods which are far more likely to result in drilling success.

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