Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
- Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week.
Global Petroleum ( (GB:GEO) ) has provided an announcement.
GEO Exploration Limited has announced a significant upgrade in its prospective resources at the PEL 94 licence offshore Namibia, with a 23% increase to approximately 4.31 billion barrels. This upgrade, resulting from an independent geoscience evaluation, highlights the potential of two new sandstone leads, Emerald and Beryl, which are expected to enhance the company’s resource base and de-risk its operations. The announcement underscores GEO’s strong conviction in its Namibian assets and its strategic position in the Walvis Basin, a region noted for its deep-water potential and recent discoveries.
More about Global Petroleum
GEO Exploration Limited, formerly known as Global Petroleum Limited, operates in the oil and gas industry, focusing on exploration and development of petroleum resources. The company has a significant presence in Namibia, particularly in the Walvis Basin, where it holds a 78% working interest in the PEL 94 licence.
Average Trading Volume: 50,397,820
Technical Sentiment Signal: Sell
Current Market Cap: £6.12M
See more data about GEO stock on TipRanks’ Stock Analysis page.