Global Petroleum, an AIM-listed oil and gas upstream exploration company presently focused on Africa and the Mediterranean, has changed its name to Geo Exploration.
This follows a vote on the name change held during the annual general meeting on December 5, 2024, the company stated. The new name has been registered at the Australian Securities and Investments Commission, and the AIM ticker change from “GBP” to “GEO” is set to follow suit on March 18, 2025.
Geo Exploration has been on the lookout for a farm-out partner for its petroleum exploration license (PEL) 94 in Block 2011A in the Walvis Basin, off the coast of Namibia since August 2024 . In January 2025, the firm said it caught the eye of undisclosed companies perceived to be ‘well-known’ in the oil and gas arena.
Namibia has been a hotspot of oil and gas activity lately. This refers in particular to the country’s Orange Basin, where Galp found light oil and gas condensate in February.
More recently, Tower Resources’ Namibian subsidiary agreed to pu rchase 5% or half of the interest its partner ZM Fourteen Investment holds in the PEL96 license offshore Namibia and farm out of a 25% interest in the license to Prime Global Energies.