Africa New Energies Limited (ANE) was founded by two South Africans Stephen Larkin and Brendon Raw in 2008. ANE was incorporated in 2012, where its sole asset is its wholly owned subsidiary, Alumni Exploration East Namibia, which in turn owns 90% of Blocks 2219 and 2319 in Namibia with the Namibian State Owned Oil Company, Namcor owning the remaining 10%. These two oil blocks were awarded in December 2012 after group sister company, Pinpoint Energy Namibia was hired by the UN African Innovation Foundation to assist Namibia to achieve energy independence in an environmentally sustainable way. The findings of the report were that a universal solar access program was only financially feasible if an interim natural gas provision funded an off-grid renewables program.
The team have pioneered the development of an integrated hydrocarbon exploration methodology that triples the probability of drilling success at 1/10th of the cost of traditional hydrocarbon techniques. Results of a Licence-wide Hydrocarbon Lead Indicator (‘HLI’) satellite survey completed by Scotforth Limited, an industry leader in remote sensing detection of HLI’s, during the first year of Licence tenure indicate excellent prospectivity for such a frontier exploration area. Initial modeling of the Petroleum Resource Potential (‘PRP’) of the emerging prospect inventory in the Licence based only on the results of the satellite survey suggests a possible total mean unrisked PRP of 1.63 billion Barrels of Oil Equivalent (BOE) and a risked PRP of 300 million BOEs. The initial geochemical and radiometric data that has been collected in the Licence area is similarly positive. ANE now aims to further develop and de-risk this emerging prospective resource.. Further geochemical and radiometric tests added confidence to the existence and suggest that the hydrocarbons are light crude oil rather than natural gas.
The company was voted in the top 10 of junior oil exploration companies to watch in the African Investor magazine in 2013.