RE: How the hell can Magna say......25 Mar 2026 09:37
GEO Exploration Limited's PEL0094 licence in Namibia is a high-value offshore asset, holding ~4.31 billion barrels of prospective oil resources across 5,798 km². As of early 2026, the company is actively seeking a farm-out partner for this 78%-owned,, PEL0094 asset to fund future drilling, driven by high interest in the region's Walvis Basin.
Key Value Drivers for PEL0094:
Resource Size: The gross mean prospective resources are estimated at 4.31 billion barrels of oil, with key leads including Welwitschia Deep, Marula, Emerald, and Beryl.
Active Regional Activity: High interest in the region, particularly after nearby successes in the Orange Basin (e.g., Venus, Graff), has enhanced the potential value of the PEL94 license.
Farm-Out Potential: GEO is currently in negotiations with potential partners to farm out a stake in the project, which could provide significant capital for future development, as reported on Marketscreener.
Location: The license covers a strategic area in the Walvis Basin in water depths ranging from 450 to 1550 metres.
Over the last few weeks the value of our licence has presumably become more valuable.
Should help with negotiations.