Oregen Energy doubled its stake in Namibia's fledgling Orange Basin, one of the world's most tightly watched oil frontiers, as international operators speed up appraisal and production drilling following a sequence of behemoth discoveries.
The firm doubled its stake in WestOil Limited to 48.5%, giving it a 33.95% indirect working interest in the basin center in Block 2712A, a 5,484 km² license. The block is located beside acreage held by Chevron and Pan Continental, placing Oregen in an exploration corridor of high potential.
The deal, supported by the brokered $3.65 million financing and Oregen's upcoming approval to list on the Canadian Securities Exchange, is an expression of the company's strategy of purchasing substantial stakes in deepwater licenses and bringing them towards drilling using seismic and technical de-risking.
Oregen is developing a multi-year exploration program in Block 2712A. The program consists of an independent technical report, 3D seismic data acquisition in late 2025/early 2026, and in 2026 farm-out to obtain a supermajor partner prior to planned drilling in 2027.
"Namibia's new discoveries are re-mapping the African oil and gas," stated NJ Ayuk, Executive Chairman of the African Energy Chamber. "The arrival of new investors into blocks like 2712A is an indicator of growing confidence in the future of the nation's energy."
Strategic context
Namibia's Orange Basin has quickly emerged as one of Africa's hottest plays after Shell, TotalEnergies, and Galp finds that are characteristic of multi-billion-barrel potential. Oregen's new arrival adds diversity to the universe of smaller explorers active in cooperation with global majors and suggests further momentum in upstream investing.
The company has added industry experienced personnel like Adrian Goodisman (former Tullow Oil), Tim O'Hanlon, Mason Granger, and Michael Humphries to bolster its management in areas of exploration, banking, and deal-making in order to support its strategy.
Oregen termed its model as one where it works on building large working interests in prospective offshore blocks, de-risking them through seismic acquisition prior to farming out to supermajors backed by funding depth to drill and produce.