CPR from 2011 before new data5 Jan 2018 21:54
A Competent Person's Report was prepared by Oilfield International ('OIL') in April 2011 for the purposes of the acquisition of Jupiter Petroleum Limited by Global and was included in the Company's Notice for the General Meeting held on 19th August 2011 (available on the Company's website). Based on an examination of the limited historical data available, OIL identified two leads and estimated net attributable prospective resources to Jupiter/Global.
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Global has subsequently acquired and interpreted more than 2,000 kms of purchased 2D seismic data from the 1990s. This confirmed the presence of the two leads (designated Structure A and Structure B), and revealed both their extent and configuration with much greater clarity. Table 1 presents Gross and Net Attributable Prospective Resources for the two leads, based on our interpretation of the 1990s' seismic (Note 1). Global's share is 85% (net of 5% government royalty).
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Table 1 Gross and Net Attributable Prospective Resources for Namibia Licence 0029, Blocks 1910B and 2010A
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Gross Best Estimate
Net to Global Best Estimate
Structure A
4.30 billion boe
3.47 billion boe
Structure B
5.00 billion boe
4.04 billion boe
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The interpretation of the 2D seismic has also confirmed the presence in Licence 0029 of several stratigraphic plays which could be of significant size.