Before that trade, there was
no way Pels were getting close to signing Boogie to a max; there were numerous outlets (both local and national) that discussed that aspect of their involvement.
The NNPC's recommendation under the PIAB seeks a break up of Petroleum Licence into Petroleum Exploration Licence (
PEL)-- to prospect for petroleum, while the second component to be known as Petroleum Lease (PL), should be created to cover the production phase to search for, win, work, carry
way and dispose of petroleum.