The Volans prospect is being investigated soon after Rhino Resources struck light oil in April at its second successful exploration well, Capricornus 1-X, which was drilled in the prolific Orange Basin off Namibia's coast.

"Testing Volans is a priority for a potential fast-track development option," a company spokesperson said, adding that its morphology could make it easier to exploit than Capricornus.

The Cape Town-headquartered company is the operator of Petroleum Exploration License 85 in partnership with Azule Energy, a BP and Eni joint venture, as well as national oil companies Namcor and Korres Investments.

"If Volans-1X fails, options include appraising Sagittarius, drilling another prospect or returning to Capricornus," the Spokesperson said.

Other operators that have found significant discoveries offshore the southern African country include Shell and Galp Energia.

--Reuters--