Business
Namibian Interests - Farm-out Process
Namibian Interests - Farm-out Process.
About this update from Geo Exploration Limited
[{"type":"text","content":"\n \nRNS Number : 3195C Global Petroleum Ltd 19 January 2018 \n\n19 January 2018\n \nThe information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 ('MAR). Upon the publication of this announcement via a Regulatory Information Service ('RIS'), this inside information is now considered to be in the public domain.\n \nGlobal Petroleum Limited\n(\"Global\" or \"the Company\")\n \nNamibian Interests - Farm-out Process and Appointment of Advisors\n \nGlobal Petroleum Limited (AIM: GBP, ASX: GBP) is pleased to announce that, following its recent notification of the publication of the Competent Person's Report (\"CPR\") by AGR TRACS on its Namibian Blocks 1910B and 2010A (Licence PEL0029 - \"the Licence\"), the Company will shortly commence a structured farmout process, with the intention of future work on the block being financed by a farminee. Global holds an 85% working interest in the Licence, and is Operator.\n \nGlobal is also pleased to announce that it has appointed Stellar Energy Advisors ('Stellar') to advise the Company in relation to the farmout. A brief overview of Stellar is provided below.\n \nGlobal's CEO, Peter Hill, commented: \"Following the publication of the CPR, which has confirmed the high level of prospectivity on our Blocks, we feel that the time is now right to commence a structured farmout process. We have noted the improving investment climate for upstream E&P generally, and in particular the recent entry of major IOCs and NOCs into Namibian exploration. We also regard Stellar as the advisor best placed to assist us in the farmout, given their extensive technical knowledge of Namibian E&P and their recent successes in advising on farmouts in the country\". \n \nFor further information, please visit www.globalpetroleum.com.au or contact:\n \n\n\n\n\nGlobal Petroleum Limited\n\n\n \n\n\n\n\nPeter Hill, Managing Director & CEO\n\n\n+44 (0) 20 7495 6802\n\n\n\n\nCantor Fitzgerald Europe (Nominated Adviser & Joint Broker)\n\n\n \n\n\n\n\nSarah Wharry\n\n\n+44 (0) 20 7894 7000\n\n\n\n\nGMP FirstEnergy Capital LLP (Joint Broker)\n\n\n \n\n\n\n\nHugh Sanderson\n\n\n+44 (0) 20 7448 0200\n\n\n\n\nTavistock (Financi...