GEO Exploration Limited Announces Major Resource Upgrade in Namibia’s PEL 94

Global Petroleum ( (GB:GEO) ) has provided an announcement.

GEO Exploration Limited has announced a significant upgrade in its prospective resources at the PEL 94 licence offshore Namibia, with a 23% increase to approximately 4.31 billion barrels. This upgrade, resulting from an independent geoscience evaluation, highlights the potential of two new sandstone leads, Emerald and Beryl, which are expected to enhance the company’s resource base and de-risk its operations. The announcement underscores GEO’s strong conviction in its Namibian assets and its strategic position in the Walvis Basin, a region noted for its deep-water potential and recent discoveries.

More about Global Petroleum

GEO Exploration Limited, formerly known as Global Petroleum Limited, operates in the oil and gas industry, focusing on exploration and development of petroleum resources. The company has a significant presence in Namibia, particularly in the Walvis Basin, where it holds a 78% working interest in the PEL 94 licence.

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