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Kenya
Kenya.
About this update from Geo Exploration Limited
[{"type":"text","content":"\n Global Petroleum Ltd\n25 January 2007\n\n\n25 January 2007\n KENYA\n\nFurther to Woodside's release of 23 January 2007 regarding the results of the\nPomboo well in Kenya, Global advises that the L7 Joint Venture has decided not\nto drill Sokwe South No. 1 in this drilling campaign.\n\nThere are numerous prospects and leads in our Kenya Licences L5 and L7. Pomboo\nhas established the presence of reservoirs and seals although the well lacked\noil and gas shows. It is important that the decision on the next phase of\nexploration be determined after a comprehensive technical assessment of the\nrelevance and implications of the new information obtained from Pomboo. This\nwork is expected to occur over the next three to six months.\n\nAccordingly, Woodside as operator of the L5 and L7 Joint Venture will discuss\noptions with the Kenya Government with a view to agreeing the appropriate way\nforward for the JV and Government.\n\nThe L5 and L7 Joint Venture comprises:\n\nWoodside Energy (Kenya) Pty Ltd 30% (and operator);\nDana Petroleum (E&P) Ltd 30% *\nRepsol Exploracion S.A. 20% *\nGlobal Petroleum 20%\n\nThe costs associated with Global's 20% in L5 and L7 are carried for all\nactivities through the drilling of the first well in each of these areas.\n\nFor further information, refer to Global's website: www.globalpetroleum.com.au\n\nThe technical information in this report was prepared by Dr John Armstrong PhD,\nBSc (1st Hons) Geo, executive Chairman of Global Petroleum Limited who has 35\nyears experience in the upstream oil and gas industry. The information has been\nreviewed as to its reliability by Mr Wal Muir BSc Hons (UNSW) MBA (UQ), who is a\npartner in MBA Petroleum Consultants. MBA provides independent technical advice\nto Global. Wal Muir has over 27 years experience in the petroleum exploration\nindustry both in Australia and overseas. He is a Distinguished Member of the\nPetroleum Exploration Society of Australia and a member of the Australian\nSociety of Exploration Geophysicists.\n\nJohn Armstrong\nExecutive Chairman\n\nTelephone: +61 7 3211 1122\nFax: +61 7 3211 0133\nWeb: www.global-petroleum.co.uk\n\nFootnote: Another transaction is pending which, subject to the necessary \npermissions, will result in the transfer of a 3% interest in L5 and L7 from Dana \nto Repsol, resulting in Repsol having a 23% interest in ...