12 July 2017
The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 ('MAR). Upon the publication of this announcement via a Regulatory Information Service ('RIS'), this inside information is now considered to be in the public domain.
Global Petroleum Limited
("Global" or "the Company")
Namibia 2D seismic survey
Completion of data acquisition
Global Petroleum (AIM: GBP, ASX: GBP) announces the completion of the 2D seismic acquisition programme previously announced, in the Company's operated block (PEL 0029) in Namibia. The survey - comprising 834 km of full fold 2D seismic data - was carried out by Seabird Exploration of Norway, and shooting took only 10 days, completing on 3 July 2017. The total cost of the acquisition is approximately US$740,000, excluding processing.
Processing of the acquired data is about to commence and is expected to be finalised around the end of September 2017. Initial examination of the high quality raw data confirms the extremely large extent of the Gemsbok prospect in the south east of the block. Following processing and interpretation of the data the Company will determine its plans for the next phase of exploration.
http://www.rns-pdf.londonstockexchange.com/rns/7712K_-2017-7-11.pdf
Global's Licence PEL 0029, in which the Company hold an 85% interest and operatorship, covers Offshore Blocks 1910B and 2010A in the Republic of Namibia. The Gemsbok prospect is located at a total depth of around 3,000 metres - in water depths of approximately 1,400 metres.
For further information please visit www.globalpetroleum.com.au or contact:
Global Petroleum Limited |
|
Peter Hill, Managing Director & CEO |
+44 (0) 20 7495 6802 |
Damien Cronin, Company Secretary |
+61 (0) 7 3310 8732 |
Cantor Fitzgerald Europe (Nominated Adviser & Joint Broker) |
|
Sarah Wharry / Craig Francis |
+44 (0) 20 7894 7000 |
GMP FirstEnergy Capital LLP (Joint Broker) |
|
Hugh Sanderson |
+44 (0) 20 7448 0200 |
Tavistock (Financial PR & IR) |
|
Simon Hudson / Niall Walsh |
+44 (0) 20 7920 3150 |
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