Namibia – License Extension Global Petroleum

Global Petroleum announced a license extension this week – see here. The interesting thing about it is the comment by the CEO.

Helios Chariot - Namibia - Global Energy

“Whilst we continue to seek potential new opportunities, we also firmly believe that our position in Namibia has the potential to be rewarding for shareholders. After initially disappointing drilling results, we believe there is renewed interest in exploration offshore Namibia with the possibility that major players may take positions in offshore acreage in the coming months. Following our recent work, we regard our own acreage as being amongst the most exciting in the country, and the new commercial terms announced today will enable us to progress exploration on the block without over-commitment. Accordingly we are very happy to have renewed our Licence on the revised terms.”