16 June 2014
("Global" or "the Company")
Namibia Update
Global Petroleum Limited ('Global') - AIM: GBP, ASX: GBP - the oil and gas exploration company presently focused on emerging plays in Africa and the Mediterranean, notes the recent announcement by the partners in the Welwitschia-1A well of their decision to plug and abandon the well. The Welwitschia-1A well was drilled to a depth of 2,454m in Block 2011A, adjacent to Global's Block 2010A in the Walvis Basin offshore northern Namibia.
The Global technical management team wishes to make it clear that the geological setting of Global's blocks 2010A and 1910B is distinct from that targeted by the partners in the Welwitschia-1A well.
The great majority of the prospectivity in Global's acreage is mapped in older sediments. These deeper structures were not reached by the Welwitschia-1A well. Therefore, the significant potential of these deeper traps and reservoirs remains to be tested.
In addition, the Company's technical management team believes that the shallower reservoir potential also remains in its blocks, as Global's technical interpretation is that the high quality Maastrichtian and Campanian reservoirs in its blocks were deposited in a sandstone reservoir fairway which skirted and bypassed the old highs such as the one drilled by Welwitschia-1A.
Regarding source, it is thought that the main charge for Global's prospects is also in the older sediments: this means that the deeper structures would be charged first, secondly the shallower Maastrichtian and Campanian traps, and only thirdly the reservoir fairway between the highs- on one of which Welwitschia-1A was drilled.
For further information please visit www.globalpetroleum.com.au or contact:
Global Petroleum Limited | |
Peter Hill, Managing Director & CEO | +44 (0)20 7495 6802 |
Damien Cronin, Company Secretary | +61 (0)7 3310 8732 |
James Biddle / Charlie Cryer +44 (0)20 3440 6800
FirstEnergy Capital LLP (Joint Broker)Hugh Sanderson / Travis Inlow +44 (0)20 7448 0200
Tavistock Communications (Financial PR & IR)
Simon Hudson / Ed Portman +44 (0)20 7920 3150
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