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Thursday, April 23, 2020
According to Global Petroleum in its Quarterly Report for the period ending March 31, the company has agreed to transfer a seven percent participating interest in PEL 0094 to NAMCOR for the right to license the data, taking NAMCOR’s interest in PEL 0094 to 17 percent, carried to first production. Aloe Investments, a private Namibian company holds a five percent interest, carried through exploration.
Global also reported that it has signed an agreement post the reporting period to license pre-existing 3D seismic data in its offshore block 2011A (PEL0094). This key data covers an area of 1,583 sq kms, principally within PEL0094, and encompasses both the Welwitschia Deep prospect and the Marula lead, enabling precise mapping of these features and thus facilitating a farmout by the company.
PEL 0094 is located in the northern Walvis basin, immediately to the east of PEL 0029. Under the PEL 0094 work program, in the first two years of the Initial Exploration Period, Global is to carry out various studies and will reprocess all existing seismic in the license area, which includes a 3D seismic data survey shot in the western part. At the end of two years, Global has the option either to shoot a new 2,000 sq km 3D seismic data survey in the eastern part of Block 2011A, or alternatively to relinquish the license.
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