The company’s 87%-owned subsidiary, Equatorial Oil & Gas, previously held the acreage under a farm-in agreement with African Coal & Gas Corporation.
However, the farm-in deal collapsed and Equatorial re-applied for the acreage, located in the Western Central Kalahari sub-basin, in its own name.
Under the original farm-in deal, Equatorial carried out stratigraphic drilling which, it said, “yielded encouraging results”.
The wells found two coal horizons at depths of 500 to 700 metres which are about 7.9
