Rhino confirms high-liquid gas condensate discovery at Volans-1X offshore Namibia

Rhino Resources Namibia Ltd. has confirmed a significant gas condensate discovery at the Volans-1X exploration well in Block 2914A, offshore Namibia’s Orange basin. The find represents the company’s third consecutive hydrocarbon discovery on Petroleum Exploration License 85 (PEL 85), where Rhino holds a 42.5% operating interest.

The Volans-1X well, spudded on July 31, 2025, with the Northern Ocean’s Deepsea Mira semi-submersible, reached a total depth of 4,497.5 meters on August 30. Logging operations identified 26 meters of net pay in high-quality Upper Cretaceous reservoirs, with no observed water contact. Hydrocarbon samples indicated a condensate-to-gas ratio exceeding 140 and liquids with approximately 40° API gravity.

Laboratory analysis of sidewall cores and collected samples is ongoing, with early results confirming excellent reservoir quality.

Partners on PEL 85 include Azule Energy (42.5%), Namibia’s state-owned NAMCOR (10%), and Korres Investments (5%). The joint venture has also drilled the Sagittarius-1X and Capricornus-1X wells, both of which encountered hydrocarbons earlier this year.

Rhino CEO Travis Smithard described the Volans-1X result as opening a new play fairway within the license, adding that the discovery demonstrates “different reservoir and fluid types” compared to previous wells. He noted that the JV will integrate findings into basin-wide prospectivity studies to assess development potential.

The Deepsea Mira rig has been mobilized to a new drilling location while testing and evaluation continue on Volans-1X. The discovery adds momentum to Namibia’s Orange basin, which has seen a series of high-profile finds in recent years, drawing increased interest from international operators.