Global Petroleum Ltd Namibia 2D Seismic Survey Update (7712K)

TIDMGBP

RNS Number : 7712K

Global Petroleum Ltd

12 July 2017

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          [phone] 
  & CEO                                  6802 
                                        [phone] 
 Damien Cronin, Company Secretary        8732 
 Cantor Fitzgerald Europe (Nominated 
  Adviser & Joint Broker) 
                                        [phone] 
 Sarah Wharry / Craig Francis            7000 
 GMP FirstEnergy Capital LLP (Joint 
  Broker) 
                                        [phone] 
 Hugh Sanderson                          0200 
 Tavistock (Financial PR & IR) 
                                        [phone] 
 Simon Hudson / Niall Walsh              3150 
 

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July 12, 2017 02:00 ET (06:00 GMT)