RE: 687 Million barrels net to GBP22 Dec 2020 20:46
Taken from 20 July Rns,
Global Petroleum Limited (AIM: GBP) is pleased to announce its updated estimate of Prospective Resources for PEL0094 (Block 2011A), offshore Namibia, after interpretation of the 3D seismic data survey recently licensed from the Namibian State Oil Company, NAMCOR, which also holds a carried interest of 17% in the Licence. Global holds a working interest of 78% and is operator.
A total of 881 million barrels of unrisked gross Prospective Resources (Best Estimate) has been estimated in PEL0094 in two prospects, of which 687 million barrels are net to Global. These are detailed in Table A and have been classified in accordance with the Society of Petroleum Engineers Petroleum Resources Management System (SPE-PRMS), and have been estimated using a probabilistic method. The Prospective Resources are based on the 3D and 2D seismic data and geological information, including analogues, to which Global has access.