Juan de Nova25 Sep 2014 11:59
GBP the operator issues results next week and may give an update. Don't hold your breath but something to look out for. J de N is smack in the middle of lots of oil and gas finds in east Africa.
"Global's subsidiary, Jupiter Juan de Nova Limited, had a 30% participating interest in the Juan de Nova Est Permit which was issued by the French Government in December 2008. The Permit covered approximately 9,000 square kilometres with water depths ranging from 200 metres to approximately 3,000 metres, and is located to the east of the small island of Juan de Nova in the Mozambique Channel, immediately to the west of Madagascar. Wessex Exploration PLC was the operator and holder of the remaining 70% interest. On 28 August 2013, an application by Global on a 100% basis was submitted to the French authorities - to renew approximately 4,500 square kilometres (50% of the former permit area) of the permit for a term of five years was submitted to the French authorities. If such renewal is granted, Global would be Operator and, in principal, would assign a 50% equity interest in the permit to Wessex Exploration. It is anticipated that the renewal process may take several months. "