Transformational exploration in the Walvis Basin, Namibia
Paul Howlett
Global Petroleum Limited
Global Petroleum - a snapshot
• Global Petroleum Limited is an Australian-registered public company quoted on the AIM market of the London Stock Exchange
• The management team is based in London
• 3 successful capital raises totalling £3.4 million (US$4.6 million) in last 15 months to progress the PEL94 exploration licence & for working capital
• Active since 2010 in Namibia
• Global also has exploration permit applications in the Italian Adriatic Sea
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Oil and gas in Namibia
- Stable jurisdiction, excellent fiscal terms
- Excitement in the oil and gas sector:
- ReconAfrica found oil shows in its 2 stratigraphic wells onshore NE Namibia with its share price now over 12 times what it was 2 years ago
- Offshore there are significant players: Shell, TotalEnergies, ExxonMobil, GALP, Maurel & Prom
- Shell about to drill the Graff-1 well, TotalEnergies the Venus-1 well, both of which are playing the same source rock as Global in its licence
- To the north of Global's licence, ExxonMobil has a large licence position, similar in area to its Starbroek block in Guyana
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Global Petroleum in Namibia
- Global's licence PEL94, 5798 sq. km, 78% and operator
- Commitment is to acquire 2,000 sq. km of 3D seismic data
- Previously held adjacent PEL29 licence for 10 years from 2010
- Main prospect Marula with 210 MMbbl gross P50
- Marula at 1000m water depth
- Last 2 deep water wells in this basin cost US$29 and 16 million
- Marula has >US$600 million NPV10 net to Global's interest
- There is further running room…….
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Global's portfolio in PEL94, Namibia
- Large portfolio: 2,284 MMbbl Net P50 Prospective Resources across 9 prospects & leads in PEL94
Welwitschia | Monkeythorn | Puzzlebush | Acacia | Plum Deep | |
Deep | West | Plum | Plum East | ||
West | Quiver | ||||
Tree | |||||
North | |||||
Sandcastle | Quiver | ||||
Tree | |||||
Corkwood | Marula | Plum | |||
Area of 3D | South | Plum | Quiver | ||
seismic data | Tree | ||||
Ana | South | ||||
Puzzlebush | |||||
Albian carbonate prospects | East | ||||
Deeper Upper Cretaceous sandstone prospects | |||||
Upper Cretaceous sandstone prospects beyond Mass Transport Complex | |||||
Upper Cretaceous sandstone prospects below or near base of Mass Transport Complex | |||||
Early Paleocene sandstone prospects |
Gross | Net Attributable | Risk | Risked | |||||||
Prospective Resources | Prospective Resources (NAPR) | Factor | NAPR in | |||||||
within PEL0094 | within PEL0094 | PEL0094 | ||||||||
Risked net | ||||||||||
Prospects or | 1U | 2U | 3U | 1U | 2U | 3U | 2U | |||
Low | Best | High | Mean | Low | Best | High | Mean | Best | ||
Leads | Estimate | Estimate | Estimate | Estimate | Estimate | Estimate | Estimate | Estimate | (%) | Estimate |
(P90) | (P50) | (P10) | (P90) | (P50) | (P10) | (P50) | ||||
OIL - millions of barrels | ||||||||||
Prospect | ||||||||||
Welwitschia | ||||||||||
Deep | 162 | 671 | 1863 | 881 | 126 | 523 | 1453 | 687 | 14% | 73 |
Prospect | ||||||||||
Marula | 109 | 210 | 337 | 218 | 85 | 164 | 263 | 170 | 22% | 36 |
Lead |
Ana | 42 | 91 | 175 | 102 | 33 | 71 | 137 | 80 | 11% | 8 |
Lead | ||||||||||
Quiver Tree | 275 | 476 | 786 | 508 | 215 | 371 | 613 | 396 | 11% | 41 |
Lead Quiver | ||||||||||
Tree South | 262 | 396 | 566 | 407 | 204 | 309 | 441 | 317 | 7% | 22 |
Lead | ||||||||||
Plum | 79 | 164 | 311 | 182 | 62 | 128 | 243 | 142 | 7% | 9 |
Lead | ||||||||||
Plum South | 4 | 13 | 36 | 17 | 3 | 10 | 28 | 13 | 6% | 1 |
Lead | ||||||||||
Plum Deep | 226 | 466 | 894 | 523 | 176 | 363 | 697 | 408 | 6% | 22 |
Lead | ||||||||||
Monkeythorn | 220 | 442 | 831 | 491 | 172 | 345 | 648 | 383 | 7% | 24 |
TOTAL | 2,929 | 3,329 | 2,284 | 2,596 | 236 |
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Global Petroleum Limited published this content on 11 November 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 11 November 2021 10:36:02 UTC.