Page 32 - Integrated Annual Report

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INTEGRATED ANNUAL REPORT 2021
HOSKEN CONSOLIDATED INVESTMENTS LIMITED
OPERATIONAL OVERVIEW (CONTINUED)
IMPACT OIL AND GAS LIMITED (”IMPACT”) www.impactoilandgas.com
Impact is a UK-based hydrocarbon exploration company. Its strategy is:
• to build a portfolio of high quality African deep-water prospects;
• partner these with super-major oil and gas companies, with the technical and financial capability to operate through the drilling and development (in a success case) phases; and
• ultimately, participate in a portfolio of high-impact exploration wells.
Impact has built a highly material portfolio, which is partnered with Royal Dutch Shell, Total Energies, Qatar Petroleum, and CNOOC.
South Africa Gas Condensate Discoveries:
During 2019 and 2020, respectively, we reported two major gas-condensate discoveries, the Brulpadda and Luiperd fields of the Paddavissie Fairway, lying off the southern coast of South Africa in Block 11B/12B. The licence joint venture partners are currently assessing the feasibility of an early production scheme and a possible phased development of the Paddavissie Fairway. We are excited about this development, which could make a transformative
contribution to the South African economy.
In 2020, in a milestone transaction, Impact reorganised its indirect interest in Block 11b/12b, replacing its loan arrangement with Arostyle Investments (RF) Proprietary Limited, with a direct equity interest in Africa Energy, a TSX listed company. Arostyle is the majority shareholder of Main Street 1549 Proprietary Limited, which holds a 10% participating interest in Block 11B/12B, whilst Africa Energy Corp. (“Africa Energy”) holds 49% of the shares in Main Street. This has resulted in Impact currently holding a 36% interest in Africa Energy. In line with our strategy, the transaction provides Impact with additional options for monetisation of our participation in the Block.
South Africa – Growth and Opportunities:
Impact remains one of the largest acreage holders offshore South Africa, with substantial interests in the Orange Basin, Outeniqua Basin, and the Natal Trough. The potential of these offshore areas has been demonstrated by the Brulpadda and Luiperd well results and, if successful, the Venus well will also have a significant positive impact on the exploration potential of Southern Africa.
With both ExxonMobil and Equinor withdrawing from the
APPROXIMATELY 110 000km2 (GROSS) IN 5 COUNTRIES
SENEGAL / AGC PROFOND: 6 690km2
NAMIBIA 2913B / 2912: 16 099km2
SA ORANGE BASIN DEEP: 15 474km2
SA BLOCK 11B/12B: 18 734km2
Indirect interest through funding
SA TRANSKEI / ALGOA and TUGELA: 53 196km2
SENEGAL GUINEA-BISSAU
NAMIBIA
SOUTH AFRICA