Regarding its licence PEL0094 (Block 2011A), the Company recently purchased historic 2D
\nseismic data in order to improve interpretation of its Marula prospect in the western part of
\nBlock 2011A. Separately, Global has also acquired 2D seismic data over the relatively
\nunderexplored eastern part of the block and the Company expects the interpretation of
\nthis data significantly to enhance the prospectivity already identified in this area.
\nInterpretation of both sets of data is underway, following which the Company will update its
\nprevious Prospective Resources estimate for PEL0094, published on 20 July 2020.
\nPreparations are also underway for a farmout process which will be launched once the
\nseismic interpretation is complete.
\nWith respect to the Company\u2019s other Namibian licence, PEL0029 (Blocks 1910B and 2010A),
\nthe licence expired under its terms on 3 December 2020, further extensions not being
\npermitted under Namibian petroleum exploration law. The Company has completed its
\noutstanding licence work programme commitments under budget. It is the Company\u2019s
\ncurrent intention to apply for a new licence in due course.<\/p>\n","protected":false},"excerpt":{"rendered":"