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Botswana - Licences 123, 124 and 125

Overview

Operator: SacOil
Group company holding interest: Transfer Holdings Proprietary Limited – 100%
Size: approximately 49 463 square kilometres
Partners: None

Location

Located in the north-western and north-eastern parts of Botswana bordering Namibia and Zimbabwe.
Nearest towns: Ghanzi, Nokaneng, Sebe
Geological features: The blocks could have rifted grabens of Pliocene to Miocene age covered by recent sediments of Kalahari age. Should these rifted grabens exist, there is a possibility that they may be hydrocarbon bearing.

Rights

Exploration licences 123/2013, 124/2013 and 125/2013 were awarded to Transfer Holdings Proprietary Limited, a subsidiary of SacOil, by the Minister of Minerals, Energy and Water Resources in 2013.

Petroleum Exploration Licence 123/2013 is located in the Ghanzi district.

Petroleum Exploration Licence 124/2013 is located in the Ngamiland district.

Petroleum Exploration Licence 125/2013 is located in the Chobe district.

The three licences cover an area of approximately 49 463 square kilometres.

Licence periods: 2013 to June 2016, with additional exploration extension periods.

Environmental management

Permits: All necessary permits have been obtained to complete the Environmental and Social Impact Assessments. There is a reasonable basis to believe that all permits required for the project can be obtained.

Material environmental risk factors

  • Okavango Delta, Moremi Game Reserve, Central Kalahari Game Reserve
  • Indigenous fauna and flora
  • Environmentally sensitive areas outside game reserves
  • Human settlements
  • Topography

Stakeholder consultation and engagement was completed. Mitigation plans have been developed and implemented to address the potential environmental and social impact of the exploration activities on the licence areas.

Primary activity

Exploration for hydrocarbons with the aim of proving the presence of a working petroleum system.

Studies completed to date include:

  • Regional geological and geophysical studies
  • Satellite screen study
  • Environmental and social risk screening
  • Social and labour plans
  • Workshops and engagements with related parties and stakeholders

Expenditure to date: R0.4 million

Resource overview

To date very limited to no petroleum exploration activity has occurred in country and over the licence areas. The exploration activity has primarily been restricted to gravity and magnetic surveys associated with mineral exploration in Botswana.

Directors’ statement

The Group has the legal entitlement to the minerals and asset being reported on and there are no legal proceedings or other material conditions that may impact the Group’s ability to continue operations.