RE: Omg 50 bagger potential!!!17 Nov 2022 01:44
Unsurprisingly, interest in Namibian offshore exploration has risen unprecedentedly - a development which has become evident to Global in the course of its farmout**of PEL 94, and also to industry observers generally.
As previously indicated, a consequence of the TotalEnergies and Shell discoveries is that companies, particularly potential new entrants, are taking significant time to evaluate the geology and petroleum systems offshore Namibia.
*'*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.***