Global Petroleum Ltd Commencement of Airborne Geophysical Survey

RNS Number : 1957H

Global Petroleum Ltd

07 October 2024

 

 

7 October 2024 

 

The information contained within this announcement is deemed by the Company to constitute inside information under the UK Market Abuse Regulations ("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") 

 

Commencement of Airborne Geophysical Survey and Site Visit

 

Global Petroleum Limited (LSE AIM:GBP) is pleased to announce that an Airborne Geophysical Survey has commenced at Project Juno ("Juno"). This survey represents a significant advancement in the Company's exploration strategy, aimed at acquiring high-resolution geophysical data to enhance the understanding of the subsurface geology. The information gathered will allow Global and Callum Baxter to identify specific areas for further activities, such as drilling.

 

As of 6 October 2024 the Survey is 46% complete with more than 1,800 total line km's flown. Global expects results of the Geophysical Survey to be available in the current quarter.

 

Omar Ahmad, CEO of Global Petroleum commented:

 

"We are pleased to be making swift progress, working alongside Callum Baxter and the team to advance Project Juno. The Airborne Geophysical Survey is critical to accurately identify targets and will be delivered in a safe, cost effective and efficient manner.

 

"The work to date on the Juno Project and going forward presents an exciting new era for the Company alongside our positive ongoing farm-in discussions with our commercial partner for our Namibian PEL 94 Licence. I certainly see significant potential shareholder value from both projects and look forward to providing regular updates as each progresses."

 

 

Site Visit

 

Juno operator Callum Baxter also recently conducted a site visit to the Juno tenure where he was able to assess access to the Juno site and hold talks with the local pastoralist.

 

Callum Baxter, Project Juno Joint Venture Partner commented:

 

"I am pleased we are moving fast and have successfully and safely completed our initial field visit to the Juno area. From this visit we determined that access into the initial area of interest is good, via historical tracks. Our meeting with the local pastoralist was very positive, and he is very supportive of our proposed exploration activities.

 

It is very exciting to have commenced a detailed aeromagnetic survey at Juno and I look forward to receiving results shortly. Additional exploration activities are in the planning phase and will be announced in the coming weeks."

 

 

Pictures of the site visit can be seen below and further media will be made available on the Global Petroleum website - www.globalpetroleum.com.au

 

 

 

 

 

 

Figure 1 - Typical flat topography and sparse vegetation at the Juno project

 

 

 

Figure 2 - Historic shallow drillhole in the north of the Juno project

 

 

 

 

Figure 3 - Sparse vegetation and open area in the north of the Juno project

 

 

 

For further information please visit: www.globalpetroleum.com.au or contact: 

 

Global Petroleum Limited                                                                [phone] 

Andrew Draffin, Company Secretary and Non-Executive Director  

 

SPARK Advisory Partners (Nominated Adviser)                     [phone]  

Andrew Emmott  

 

CMC Markets (Joint Broker)                                                           [phone] 

Douglas Crippen   

 

SI Capital Limited                                                                             [phone] 

Nick Emerson  

 

Tavistock (Financial PR & IR)                                                         [phone] 

Simon Hudson / Nick Elwes 

 

 

 

 

 

 

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