Investor Presentation

RNS Number : 7609M

Global Petroleum Ltd

20 September 2012

 



20 September 2012

Global Petroleum Limited

("Global" or "the Company")

Investor Presentation

Global Petroleum Limited (AIM: GBP, ASX: GBP), the oil and gas exploration company focused on Southern Africa, announces that a copy of its latest corporate presentation from the FirstEnergy / Société Générale Global Energy Conference, held in London on Tuesday 18 September 2012, is available on both the ASX website and the Company's website.  

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

Global Petroleum Limited
Peter Hill, Managing Director & CEO	[phone]
Damien Cronin, Company Secretary	[phone]
Northland Capital Partners Limited (Nominated Adviser & Joint Broker)
William Vandyk	[phone]
FirstEnergy Capital LLP (Joint Broker)
Hugh Sanderson / Travis Inlow	[phone]
Tavistock Communications (Financial PR & IR)
Simon Hudson / Ed Portman	[phone]

About Global Petroleum Limited

Global Petroleum is a southern African focused oil and gas exploration and development company with its principal projects located offshore Namibia and offshore Juan de Nova island, in the Mozambique Channel. The Company's business philosophy is to obtain early licence positions in frontier exploration areas, either directly or through joint venture arrangements, in order to provide maximum leverage exploration success. Global Petroleum is dual listed on the Australian Securities Exchange and Alternative Investment Market of the London Stock Exchange.

The Company's Namibian Project consists of an 85% participating interest in Petroleum Exploration Licence No. 0029 covering Offshore Blocks 1910B and 2010A, and lies adjacent to acreage held by Arcadia Petroleum Ltd and Tower Resources. The blocks cover 11,730 square kilometres and are located in water depths ranging from 1,200 to 3,000 metres. The acquisition of further seismic surveys is a key objective to ascertain both the extent of the structures already identified and to build up greater clarity before a drilling campaign is undertaken.

Global's subsidiary, Jupiter Juan de Nova Limited, has a 30% participating interest in the Juan de Nova Est Permit which was issued by the French Government in December 2008. The Permit covers approximately 9,000 square kilometres with water depths ranging from 200 metres to approximately 3000 metres, and is located to the east of the small island of Juan de Nova in the Mozambique Channel, immediately to the west of Madagascar. AIM quoted Wessex Exploration PLC is the operator and holder of the remaining 70% interest. It is now anticipated that Global will consider farming down its interest only post the 2D survey.

The Board continues to review opportunities for other acquisitions, joint ventures, or investments in the resources sector in order to enhance shareholder value.

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