Change of Adviser

RNS Number : 3163X

Global Petroleum Ltd

07 February 2013

 



7 February 2013

Global Petroleum Limited

Appointment of RFC Ambrian as Nominated Adviser and Joint Broker

Global Petroleum announces that it has today appointed RFC Ambrian Limited as Nominated Adviser and Joint Broker with immediate effect.

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]
RFC Ambrian Limited (Nominated Adviser & Joint Broker)
Sarah Wharry / Caspar Shand Kydd	[phone]
FirstEnergy Capital LLP (Joint Broker)
Hugh Sanderson / Travis Inlow	[phone]
Tavistock Communications (Financial PR & IR)
Simon Hudson / Ed Portman	[phone]

Background Information on RFC Ambrian

The RFC Group of companies was established in Australia in 1985.  RFC Ambrian was formed during April 2012 following RFC's acquisition of Ambrian Partners in London. Prior to this both RFC and Ambrian Partners had established themselves as two of the leading international resource sector finance houses. Operating from offices in London, Sydney and Perth, RFC Ambrian is an independent corporate advisory group with a proven track record in the mining, oil & gas and basic industrial sectors.

About Global Petroleum Limited

Global Petroleum is an Africa 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, whether 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 interests consist of an 85% participating interest in Petroleum Exploration Licence No. 0029 ("the Licence") covering Offshore Blocks 1910B and 2010A, which lie adjacent to acreage held by Repsol and its partners. The blocks cover 11,730 square kilometres and are located in water depths ranging from 1,200 to 3,000 metres.  The remaining interest in the licence is held as to 10% by National Petroleum Corporation of Namibia (Pty) Ltd and as to 5% by Bronze Investments Pty Ltd, both as carried interests. The acquisition of further seismic surveys is a key objective to ascertain both the extent of the structures already identified and to build up a greater subsurface understanding   to optimise future drilling.

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 3,000 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. The Company is in dialogue with Wessex regarding the next stages of operations on the block. 

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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