The leading independent portfolio management consultancy specialising in Acquisition, Advisory & Divestment Services for the upstream international oil and gas community.

PEL 0029

Global Petroleum Limited ("Global") is offering a select group of companies the opportunity to acquire an interest in PEL 0029, offshore Namibia, by farming-in to the highly prospective Licence. Global has an 85% operated interest in PEL 0029.

Key points:

  • Namibia has been the focus of multiple high profile farm-ins in the past 12 months, attracting companies such as ExxonMobil, Total and ONGC Videsh;
  • The opportunity features a large, >1,000 MMbbls dip-closed structure in the Gemsbok prospect, with further large structural traps identified at Lion and Dik-Dik, adding a further 2,000 MMbbls of resources in the Mid-case;
  • Gemsbok is the highest ranked prospect and is interpreted to contain multiple reservoir units. Gross Mid-case recoverable resources for the Albian-Aptian reservoir (the primary exploration play in PEL 0029) are 1,091 MMbbls, with upside of 2,581 MMbbls;
  • Aptian source rocks are proven in the region by drilling results from wells Wingat-1 and Murombe-1. Well 1911/15-1 had oil extracted from Albian-Aptian carbonate core, which is interpreted to have been expelled from an Albian-Aptian source;
  • The high level of prospectivity is confirmed by the Competent Person's Report carried out by AGR TRACS, which was published in January 2018.

Contact us for more details: Phone: + 44 (0) 20 7493 1977



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