Global Petroleum Ltd said a transaction is pending for the transfer of a 3 pct stake in Pomboo No 1 well in its L-5 and L-7 Kenya license blocks to Repsol YPF SA from Dana Petroleum PLC.

If completed, Repsol will as a result have a 23 pct interest in the blocks and Dana a 27 pct stake.

L-5 was spudded on Dec 2, and preparations are underway to recommence drilling, Global Petroleum, with a 25 pct stake in L-5 and L-7, said.

source news : afxnews.com
e-mail : newsdesk@afxnews.com vs

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