{"id":13513,"date":"2023-03-27T08:04:06","date_gmt":"2023-03-27T08:04:06","guid":{"rendered":"https:\/\/www.oilnewskenya.com\/?p=13513"},"modified":"2023-03-27T08:04:06","modified_gmt":"2023-03-27T08:04:06","slug":"namibia-global-petroleum-reports-88-increase-in-prospective-resources-estimate-for-the-marula-prospect-in-pel0094","status":"publish","type":"post","link":"https:\/\/www.oilnewskenya.com\/index.php\/namibia-global-petroleum-reports-88-increase-in-prospective-resources-estimate-for-the-marula-prospect-in-pel0094\/","title":{"rendered":"NAMIBIA: Global Petroleum Reports 88% Increase in Prospective Resources Estimate for the Marula prospect in PEL0094"},"content":{"rendered":"\n

Global Petroleum has announced an updated estimate of Prospective Resources for its licence PEL0094, offshore Namibia. Global holds a working interest of 78 per cent in the Licence, and is operator after undertaking further technical interpretation on both its principal prospects, Marula and Welwitschia Deep, and the leads in the eastern part of the Licence.
.
Following further analyses of the existing 3D seismic data in PEL0094, the Unrisked Gross Prospective
Resources for the Marula prospect have increased from 218 to 411 million barrels (Mean), an increase
of 89%. Together with the Welwitschia Deep prospect and the 7 leads so far identified in the Licence area, this gives a new total Unrisked Gross Prospective Resources (Mean) of 3,522 million barrels of oil for the Licence (previously 3,329 million barrels), an overall increase of 6%. On the basis of Global\u2019s working interest in the Licence, the Prospective Resources (Mean) Net Attributable to Global for Marula are now 321 million barrels (previous estimate: 170 million barrels), giving total Unrisked Net Prospective Resources (Mean) on the Licence of 2,747 million barrels (previously 2,596 million barrels), also an overall increase of 6%.<\/p>\n\n\n\n

In addition, the estimated chance of success for the Marula prospect has been increased from 22% to
29%, so that Risked Mean Prospective Resources attributable to Global – at its working interest of 78%
in the Licence – are now 93 million barrels for Marula out of a new total of 326 million barrels for all
the prospects and leads in the Licence. This means that Marula represents 29% of the total. <\/p>\n\n\n\n

Global\u2019s ongoing technical work (including the interpretation of newly purchased 2D seismic data) will
refine the geological model further and is expected to vindicate the Company\u2019s view that the eastern
part of PEL0094 is highly prospective. <\/p>\n\n\n\n

Peter Hill, Global Petroleum\u2019s CEO, commented:
\u201cAs the initial conclusion from our further technical work, we are pleased to report the very significant
increase in prospective resources – as well as the improved risking – for our primary prospect, Marula.
This, together with the supporting technical detail, will now be communicated to potential farm-in
partners.\u201d<\/em><\/p>\n\n\n\n

Table A: Estimates of gross attributable Prospective Resources and net attributable Prospective
Resources in PEL0094. Global*** is operator of licence PEL0094<\/em><\/p>\n\n\n\n

<\/p>\n\n\n\n

\"\"<\/figure>\n","protected":false},"excerpt":{"rendered":"

Global Petroleum has announced an updated estimate of Prospective Resources for its licence PEL0094, offshore Namibia. Global holds a working interest of 78 per cent in the Licence, and is … Read More<\/a><\/p>\n","protected":false},"author":24,"featured_media":13515,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[7442,7445,11],"tags":[3443,7916,1675,7914,7918],"class_list":["post-13513","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-countries","category-southern-africa","category-top-news","tag-global-petroleum","tag-marula-prospect","tag-namibia","tag-pel0094","tag-welwitschia-deep","entry"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2023\/03\/Namibia-PEL-94.png?fit=468%2C662&ssl=1","jetpack_shortlink":"https:\/\/wp.me\/p5JWkQ-3vX","jetpack-related-posts":[{"id":9765,"url":"https:\/\/www.oilnewskenya.com\/index.php\/namibia-global-petroleum-provides-updated-prospective-resources-estimate-for-pel0094\/","url_meta":{"origin":13513,"position":0},"title":"NAMIBIA: Global Petroleum Provides Updated Prospective Resources Estimate for PEL0094","author":"","date":"January 26, 2021","format":false,"excerpt":"Global Petroleum Limited has announced its updated estimate of Prospective Resources for PEL0094 (Block 2011A), offshore Namibia, following interpretation of the 2D seismic data which the Company recently licensed. Global holds a working interest of 78 per cent in PEL0094, and is operator. The additional Prospective Resources, which are in\u2026","rel":"","context":"In "Southern Africa"","block_context":{"text":"Southern Africa","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/southern-africa\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/07\/NAMIBIA-PEL94.jpg?fit=683%2C563&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/07\/NAMIBIA-PEL94.jpg?fit=683%2C563&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/07\/NAMIBIA-PEL94.jpg?fit=683%2C563&ssl=1&resize=525%2C300 1.5x"},"classes":[]},{"id":8629,"url":"https:\/\/www.oilnewskenya.com\/index.php\/global-petroleum-announces-new-prospective-resources-estimate-for-block-2011a\/","url_meta":{"origin":13513,"position":1},"title":"Global Petroleum Announces New Prospective Resources Estimate for Block 2011A","author":"","date":"July 20, 2020","format":false,"excerpt":"Global Petroleum Limited announced its updated estimate of Prospective Resources for PEL0094 (Block 2011A), offshore Namibia, after interpretation of the 3D seismic data survey recently licensed from the Namibian State Oil Company, NAMCOR, which also holds a carried interest of 17% in the Licence. Global holds a working interest of\u2026","rel":"","context":"In "Countries"","block_context":{"text":"Countries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/07\/NAMIBIA-PEL94.jpg?fit=683%2C563&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/07\/NAMIBIA-PEL94.jpg?fit=683%2C563&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/07\/NAMIBIA-PEL94.jpg?fit=683%2C563&ssl=1&resize=525%2C300 1.5x"},"classes":[]},{"id":8830,"url":"https:\/\/www.oilnewskenya.com\/index.php\/namibia-global-petroleum-receives-one-year-extension-in-pel0094\/","url_meta":{"origin":13513,"position":2},"title":"NAMIBIA: Global Petroleum Receives One Year Extension in PEL0094","author":"","date":"August 12, 2020","format":false,"excerpt":"Global Petroleum has announced that the Ministry of Mines and Energy in Namibia has agreed to extend the licence sub-period from September 2020 to September 2021 in connection with its licence PEL0094 (Block 2011A), offshore Namibia. 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The Placing will position the Company to part-fund the new license commitments, as well as provide general working capital, including\u2026","rel":"","context":"In "Countries"","block_context":{"text":"Countries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/07\/NAMIBIA-PEL94.jpg?fit=683%2C563&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/07\/NAMIBIA-PEL94.jpg?fit=683%2C563&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/07\/NAMIBIA-PEL94.jpg?fit=683%2C563&ssl=1&resize=525%2C300 1.5x"},"classes":[]},{"id":11028,"url":"https:\/\/www.oilnewskenya.com\/index.php\/namibia-pel0094-prospective-resources-increase-threefold-in-new-assessment\/","url_meta":{"origin":13513,"position":4},"title":"NAMIBIA: PEL0094 Prospective Resources Increase threefold in New Assessment","author":"","date":"October 22, 2021","format":false,"excerpt":"Global Resources has announced that the updated PEL0094 Prospective Resources (best estimate) has increased threefold increase compared with the previous estimate, and confirmed the Company\u2019s view that the acreage is highly prospective. This then means the net to Global on an unrisked basis \u2013 for the main prospects Marula and\u2026","rel":"","context":"In "Countries"","block_context":{"text":"Countries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2021\/10\/Namibia-Licenses.png?fit=527%2C571&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2021\/10\/Namibia-Licenses.png?fit=527%2C571&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2021\/10\/Namibia-Licenses.png?fit=527%2C571&ssl=1&resize=525%2C300 1.5x"},"classes":[]},{"id":9509,"url":"https:\/\/www.oilnewskenya.com\/index.php\/global-petroleum-provides-blocks-1910b-2010a-2011a-update\/","url_meta":{"origin":13513,"position":5},"title":"Global Petroleum Provides Blocks 1910B, 2010A & 2011A Update","author":"","date":"December 4, 2020","format":false,"excerpt":"Regarding its licence PEL0094 (Block 2011A), the Company recently purchased historic 2D seismic data in order to improve interpretation of its Marula prospect in the western part of Block 2011A. 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