Energy company Global Petroleum reported narrower first-half losses and said testing of wells in Namibia would continue as the company looked forward to finding a farm-out partner to fund future operations. For the six months to 31 December 2019, pre-tax losses narrowed to US$748,541 from US$916,390 on-year. The company said remained committed to offshore Namibia where work would continue towards finalising the 3D data acquisition from Namcor, after which the company would undertake its own interpretation of the data and seek a farm-out partner to fund future operations on both PEL 0094 and PEL0029 in Nambia. 'The company notes the upcoming Venus well, operated by Total, and scheduled to be drilled offshore southern Namibia in 2020. The company also remains committed to pursuing its Italian applications, notwithstanding the recent European Court referral,' it added.
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