Galp Energia (GLPEY) Discovers Oil in Namibia's Orange Basin

Galp Energia SGPS SA (GLPEY) , along with its partners National Petroleum Corporation of Namibia (NAMCOR) and Custos Energy, discovered oil in the Mopane 2X well. The Mopane 2X well has reached its designated depth in the petroleum exploration license (PEL) 83.The Mopane 2X well, drilled in the Orange Basin, offshore Namibia has successfully discovered a substantial column with light oil within reservoirs of excellent quality. The drilling operation included the AVO-3 exploration target, the AVO-1 appraisal ...