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Aziza Project LLC to Develop $100 Million Interest in Namibian Claims as Oil Majors Dash into Southern Africa

  • Hydrocarbon exploration activity by majors intensifies in Southern Africa
  • Aziza Project holds $100 million interest in Namibia
  • Plans to offer crypto tokens – Aziza Coins – to raise $60 million

Oil majors are still a-goggle at the huge gas reserves discovered in Mozambique and Tanzania over the past decade. The 160 trillion cubic feet (TCF) of recoverable gas in the Rovuma Offshore Basin of Mozambique is on par with Nigeria’s 180 TCF and Algeria’s 160 TCF. The 57 TCF reserve in Tanzania’s Mafia Deep Basin, though not quite as big, is substantial enough to merit investment. As a result, Africa has definitely gotten its fair share of attention, and some of the largest players in the oil industry – ExxonMobil, Royal Dutch Shell, British Petroleum – are acquiring assets and stepping up exploration activities (http://ccw.fm/NkQb0). The Aziza Project plans to do the same. It is hosting a tokenized investment fund to invest in oil and gas businesses operating in Southern Africa. The project owns one-fifth of Africa New Energies (ANE), which has concessions from the government of Namibia to explore for hydrocarbons onshore. Based on a recent unsolicited offer, Aziza Project’s 20 percent stake is worth about $100 million. To start ANE’s drilling program, the project is out to raise $60 million through the sale of Aziza Coins, an asset-backed security token compliant with the ethereum blockchain ERC20 standard.

In the hydrocarbon universe, Southern Africa is a relatively unexplored region. As such, its geology remains largely unknown. That was the case for East Africa not so long ago, but the mammoth discoveries of natural gas in Tanzania are an indication that large reserves of hydrocarbons may still lie hidden in Sub-Saharan Africa. Compared to the north, the region remains a geological mystery. More than 20,000 wells have been sunk in North Africa, around 14,000 in West Africa and some 600 wells in East Africa, yet only a few dozen have been sunk in the entire Southern African region. The reason is obvious; oil and gas are more likely to be found where oil and gas have already been found. This, perhaps, is why over a million wells can be found in Texas but less than 30 in Namibia. However, the times, they are a-changing. Through Africa New Energies, the Aziza Project is committed to undertaking a vigorous hydrocarbon exploration program.

To fund exploration activities, the project is offering crypto tokens to investors. The tokens – Aziza Coins – represent an indirect fractional ownership interest in the Aziza Project. This means that Aziza Coin holders, in effect, own part of the Aziza Project and are economic beneficiaries able to share in any of the profits made by the organization. The project’s first investment is a 20 percent stake in ANE, which has been operating in Namibia for six years.

Founded in November 2012, ANE has been on the search for natural gas and other hydrocarbons since then. After the company was granted a concession from the Namibian government, it embarked on an exploration program that utilized (http://ccw.fm/O7AYk) a variety of ‘innovative, non-industry standard exploration techniques.’ ANE developed an integrated surface exploration algorithm to analyze 17 layers of data gathered from satellite, airborne and ground surveys. Subsequently, the techniques and data have been back-tested on proven wells around the world. The company believes that the back-testing and integration of several layers of data have dramatically improved the overall probability of drilling success at one tenth the cost of industry standard methods.

Coupled with sightings of hydrocarbon seepage by local communities, the algorithm has, so far, flagged 32 potential oil and gas fields, with potentially billions of barrels of oil equivalent (BOE). Notably, the water well containing methane lies in the center of a potential 2,500 square kilometer giant oil field, 1,218 square kilometers of which fall within the concession. On the strength of these findings, ANE applied for, and was awarded, a concession area bigger than Wales on the most advantageous terms that industry experts had seen at the time.

Word of the possible treasures hidden on ANE’s claims has spread. The company recently received an unsolicited offer of $500 million for the concession.

For more information, visit the company’s website at www.Aziza.io

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