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
50,000 fully paid ordinary shares as the result of a notice received from Peter
Francis Dighton, Director to exercise part of the 250,000 options held by him
due for expiry 31 December 2008. The exercise price of A$0.25cents (10.3 pence)
amounting to A$12,500 (£5,133) will be paid to the Company. Mt Dighton is a
non-executive Director of Global Petroleum Limited.


The Company has applied for 50,000 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 ASX.


The total number of Global ordinary shares quoted on the ASX and AIM following
the exercise of the options will be 172,344,787.


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




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