GBP14 Oct 2022 12:46
The Company believes that the Walvis Basin, where PEL 94 is situated, also has the potential to be extremely successful, but has the advantage of much shallower water depths generally than the discoveries in the south.
Global believes that there is commonality of both source and reservoir between the two discoveries in the Orange Basin and PEL 94. A presentation given by Global at a recent industry workshop in Namibia, regarding mapping of the source rock and migration of oil and gas from it, was well received and has generated additional interest in the PEL 94 data room process.