By Jaime Llinares Taboada
Global Petroleum Ltd. said Tuesday that it has been granted approval by the Namibian government to enter into the next license phase for Licence 94.
The AIM-listed oil-and-gas company said the government has agreed to Global’s proposal to enter into the sub-period from September 2021 until September 2022. The work commitment is to acquire and process 2,000 square kilometers of seismic data, which Global expects to fulfill via a farm-out.
Shares at 0715 GMT were up 0.01 pence, or 1.5%, at 0.70 pence.
Write to Jaime Llinares Taboada at email@example.com; @JaimeLlinaresT