Director/PDMR Shareholding

Global Petroleum Ltd
14 November 2006


                                Global Petroleum

                              Exercise of Options

14 November 2006


Global Petroleum Limited advises that Directors have approved the allotment of
2,000,000 fully paid ordinary shares as the result of a notice received from Dr
John Dennis Armstrong, Director to exercise part of the 8,000,000 options held
by him and due for expiry 30 June 2007. The exercise price of A$0.25cents (10.3
pence) amounting to A$500,000 (£205,340) has been paid to the company, Dr
Armstrong is executive chairman of Global Petroleum Limited.


The company has applied for 2,000,000 shares, no par value, to be admitted to
trading on AIM. Such admission is expected on 20 November 2006. An application
for quotation of the new shares has been made to the ASX.


The total number of Global ordinary shares quoted on the ASX and AIM following
the exercise of the options will be 174,344,787.



Des Olling
Company Secretary
Global Petroleum Limited
Level 9, 46 Edward Street
Brisbane, Qld 4000
Tel: [phone]
Fax: [phone]
Email: [e-mail]











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