LONDON (ShareCast) - Global Petroleum slipped back this morning after it said drilling at the Pomboo No 1 well, offshore Kenya has yet to encounter any significant oil shows.

Since the last report, the well in which Global has a 20% interest has drilled 739 metres, mostly shale with some thin sandstones, it said in a statement today.

“A thick sandstone has been drilled from about 4,685m to 4,771m and although no significant oil and gas shows have been observed so far in the well, a full evaluation of the sandstone cannot be made until the total depth of the well is reached and after wireline logs have been run and evaluated,” it added.

The well continues to be drilled through the rest of the objective section to the proposed total depth of 5,370m.

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