on Global Petroleum Namibia Limited (LON:GBP)
Global Petroleum Ltd Updates on PEL 94 Transaction Progress
Global Petroleum Limited has provided an update regarding the ongoing farm-out process for its Petroleum Exploration Licence (PEL) 94 in Namibia. The company reports steady progress and notes increased interest from notable oil and gas industry players. This reflects PEL 94's appeal and Global Petroleum's strategic positioning.
The deadline for finalizing the transaction has been extended beyond December 31, 2024, to ensure all shareholder interests are thoroughly assessed. This decision aims to negotiate the most favorable terms for the company and its investors.
CEO Omar Ahmad emphasizes the company's dedication to obtaining optimal deals for shareholders. Ahmad values shareholder support as the company navigates through this critical stage.
R. E.
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