Update 6 on Namibia exploration and appraisal

Galp (80%, operator), together with its partners NAMCOR and Custos (10% each), has successfully drilled, cored and logged the Mopane-1A appraisal well (Well #3) in block PEL83, which was spud on October 23.

The Mopane-1A well encountered light oil and gas-condensate in high quality reservoir-bearing sands, once again indicating good porosities, high permeabilities, and high pressures, as well as low oil viscosity characteristics with minimum CO₂ and no H₂S concentrations.

Together with the Mopane-1X (Well #1) and Mopane-2X (Well #2) findings, this appraisal well confirms the extension and quality of AVO-1. Galp and its partners will continue to analyse and integrate all new acquired data, whilst progressing with the upcoming activities, which include E&A wells, and a high-resolution proprietary 3D seismic campaign set to start in December 2024.