Genel has released an update on its Somaliland exploration portfolio, reporting that the company has taken 100% in its SL10B13 block post acquisition of partner East Africa Resource Group’s 25% stake. The previously announced farm out process continues, targeting, we would expect, funding of drilling going forward. Initial studies (in particular 2D seismic interpretation and oil seep sampling) have helped indicate a working petroleum system and identify several targets containing around
11 Nov 2019
Somaliland update
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Somaliland update
Genel Energy PLC (GENL:LON) | 83.5 -1 (-1.4%) | Mkt Cap: 233.3m
- Published:
11 Nov 2019 -
Author:
Daniel Slater, CFA -
Pages:
2
Genel has released an update on its Somaliland exploration portfolio, reporting that the company has taken 100% in its SL10B13 block post acquisition of partner East Africa Resource Group’s 25% stake. The previously announced farm out process continues, targeting, we would expect, funding of drilling going forward. Initial studies (in particular 2D seismic interpretation and oil seep sampling) have helped indicate a working petroleum system and identify several targets containing around