RE: Is GBP the next GGP…22 Sep 2024 11:48
Following recent activity in the Walvis Basin, offshore Namibia, the Company has seen increased interest in the data room for PEL94 from various parties. As a result, Global has entered into early commercial discussions with a potential operating partner ("Partner") for a Farm-In agreement for its licence PEL94.
Global believes a Farm-In, if successfully concluded, could be transformational for the business, with a strategic partner potentially enabling the exploitation of the estimated 2,747 million barrels of oil ("barrels") on the licence (Unrisked Net Best Estimate (P50) Prospective Resources - as previously announced on 27 March 2023).