Namibia: Stamper Oil & Gas Acquires BISP Exploration

Canada-based exploration firm Stamper Oil & Gas Corp (Stamper) has signed an agreement to acquire British Columbia firm BISP Exploration. The acquisition will enable Stamper to enter the Namibian oil and gas market, as BISP Exploration is currently in the process of acquiring stakes in five offshore oil and gas blocks in the country.

Upon finalizing the acquisition, Stamper will take over the firm’s $8.3 million transaction to acquire the Namibian stakes. The Namibian assets will be acquired through Almaco – a new company to be established by BISP Exploration and Subco, Stamper’s subsidiary.

The Namibian blocks include Block 2712A in the Orange Basin and 2614B in the Lüderitz Basin. The Lüderitz asset is situated in the southern part of the basin, with drilling expected to start in 2025.

Additional acreage includes Block 2213, Block 2011B and Block 2111A in the Walvis Basin. Amalco will be led by Grayson Andersen, the current CEO of BISP Exploration and a former executive at ReconAfrica, which also has exploration operations in Namibia.