{"id":14640,"date":"2025-01-24T16:26:09","date_gmt":"2025-01-24T16:26:09","guid":{"rendered":"https:\/\/www.oilnewskenya.com\/?p=14640"},"modified":"2025-01-29T16:26:44","modified_gmt":"2025-01-29T16:26:44","slug":"namibia-global-petroleum-states-pel-94-farm-out-transaction-progressing-well","status":"publish","type":"post","link":"https:\/\/www.oilnewskenya.com\/index.php\/namibia-global-petroleum-states-pel-94-farm-out-transaction-progressing-well\/","title":{"rendered":"NAMIBIA: Global Petroleum States PEL 94 Farm-Out Transaction Progressing Well"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">Global Petroleum reports that the farm-out transaction is progressing well, and all parties are working diligently towards a successful conclusion. We are also pleased to report renewed and new interest from several well-known companies in the oil and gas industry. This increased interest underscores the attractiveness of PEL 94 and its strategic position in the market.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Global Petroleum says that to ensure we secure the best possible outcome for its shareholders, we decided to push out the previously stated deadline of 31st December 2024. The company says its priority is to evaluate all available options thoroughly, without being constrained by a strict timeline. By doing so, we aim to achieve the most advantageous terms and conditions for the Company and its shareholders.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">It says it will update the market as and when significant developments occur. It adds that its aim is to conclude the transaction at the earliest opportunity with the most beneficial terms for the Company and its shareholders.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><em>Omar Ahmad, CEO of Global Petroleum Limited, commented:<br>&#8220;We are committed to exploring all opportunities and secure the best possible deal for our shareholders. The renewed and new interest from well-known companies is a testament to the potential of PEL 94. This strategic decision allows us to achieve the most beneficial outcome for the Company. We appreciate the patience and support of our shareholders as we continue to work on this important transaction.&#8221;<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Global Petroleum reports that the farm-out transaction is progressing well, and all parties are working diligently towards a successful conclusion. We are also pleased to report renewed and new interest &hellip; <a href=\"https:\/\/www.oilnewskenya.com\/index.php\/namibia-global-petroleum-states-pel-94-farm-out-transaction-progressing-well\/\" class=\"more-link\">Read More<\/a><\/p>\n","protected":false},"author":24,"featured_media":14090,"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":[3443,1675,10122],"class_list":["post-14640","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-countries","category-southern-africa","category-top-news","tag-global-petroleum","tag-namibia","tag-pel-94","entry"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2023\/11\/Namibia-PEL-94.png?fit=468%2C662&ssl=1","jetpack_shortlink":"https:\/\/wp.me\/p5JWkQ-3O8","jetpack-related-posts":[{"id":12359,"url":"https:\/\/www.oilnewskenya.com\/index.php\/namibia-global-petroleum-provides-update\/","url_meta":{"origin":14640,"position":0},"title":"NAMIBIA: Global Petroleum Provides Update","author":"","date":"June 22, 2022","format":false,"excerpt":"On 25 April 2022 the Company announced that that the Namibian authorities had granted a one year extension to the Initial Exploration Period of PEL 94 until September 2023, also making the observation that the Venus and Graff discoveries heralded a major new petroleum province in Namibia. Global now notes\u2026","rel":"","context":"In &quot;Countries&quot;","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\/2022\/06\/Namibia-discoveries-basins.png?fit=467%2C637&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":15049,"url":"https:\/\/www.oilnewskenya.com\/index.php\/namibia-geo-exploration-announces-significant-resource-upgrade-in-pel-94-licence\/","url_meta":{"origin":14640,"position":1},"title":"NAMIBIA: GEO Exploration Announces Significant Resource Upgrade in PEL 94 Licence","author":"","date":"May 23, 2025","format":false,"excerpt":"GEO Exploration has announced the results of an independent geoscience evaluation of Licence PEL 94 (Block 2011A), offshore Namibia. The study has greatly enhanced our understanding of the potential in the eastern portion of PEL94 and it has identified two new sandstone leads - Emerald (in the Albian) and Beryl\u2026","rel":"","context":"Similar post","block_context":{"text":"Similar post","link":""},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2025\/05\/image-3.png?fit=447%2C613&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":9354,"url":"https:\/\/www.oilnewskenya.com\/index.php\/namibia-global-petroleum-provides-financing-update-for-pel-0094\/","url_meta":{"origin":14640,"position":2},"title":"NAMIBIA: Global Petroleum Provides Financing Update for PEL 0094","author":"","date":"October 29, 2020","format":false,"excerpt":"Corporate The Company has continued to focus on reducing its cost base to conserve cash resources. Together with the acquisition and interpretation of the historic 3D seismic data in PEL 0094 and the extension of that licence, the other most significant event for the Company during 2020 was the recent\u2026","rel":"","context":"In &quot;Countries&quot;","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":12898,"url":"https:\/\/www.oilnewskenya.com\/index.php\/namibia-searcher-geodata-uk-to-sponsor-pel-94-environmental-impact-assessment\/","url_meta":{"origin":14640,"position":3},"title":"NAMIBIA: Searcher Geodata UK to Sponsor PEL 94 Environmental Impact Assessment","author":"","date":"December 2, 2022","format":false,"excerpt":"Global is pleased to announce that it has agreed with Searcher Geodata UK Ltd , to sponsor an Environmental Impact Assessment (EIA) to be managed by Searcher, ahead of a multi-client 3D seismic data survey planned by Searcher in the Walvis Basin in 2023. The area of the EIA sponsored\u2026","rel":"","context":"In &quot;Countries&quot;","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\/2022\/12\/Namibia-PEL-94.png?fit=468%2C662&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":14089,"url":"https:\/\/www.oilnewskenya.com\/index.php\/namibia-global-petroleum-raises-253000-to-meet-obligations-relating-to-the-walvis-basin-license-pel94\/","url_meta":{"origin":14640,"position":4},"title":"NAMIBIA: Global Petroleum Raises \u00a3253,000 to Meet Obligations Relating to the Walvis Basin License PEL94","author":"","date":"November 30, 2023","format":false,"excerpt":"Global Petroleum has raised \u00a3253,000 in aggregate before costs through a Placing of 421,666,666 Ordinary Shares. Daniel Page, Executive Chairman of Global Petroleum commented:\u201cThe primary purpose of the Fundraise is to ensure that the liabilities in relation to the obligations of the Company\u2019s Walvis Basin licence PEL94 are completed to\u2026","rel":"","context":"In &quot;Countries&quot;","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\/2023\/11\/Namibia-PEL-94.png?fit=468%2C662&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":10712,"url":"https:\/\/www.oilnewskenya.com\/index.php\/namibia-global-petroleum-enters-next-licence-phase-for-pel94\/","url_meta":{"origin":14640,"position":5},"title":"NAMIBIA: Global Petroleum Enters Next Licence Phase for PEL94","author":"","date":"August 10, 2021","format":false,"excerpt":"Global Petroleum\u00a0 has announced that the Ministry of Mines and Energy has agreed to its proposal to enter into the next licence sub-period from September 2021 to September 2022, in relation to its licence PEL0094 (Block 2011A) offshore Namibia. Under the terms of the Petroleum Agreement for PEL0094 signed in\u2026","rel":"","context":"In &quot;Countries&quot;","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":[]}],"jetpack_sharing_enabled":true,"jetpack_likes_enabled":true,"_links":{"self":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/14640","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/users\/24"}],"replies":[{"embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/comments?post=14640"}],"version-history":[{"count":1,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/14640\/revisions"}],"predecessor-version":[{"id":14641,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/14640\/revisions\/14641"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/media\/14090"}],"wp:attachment":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/media?parent=14640"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/categories?post=14640"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/tags?post=14640"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}