Disposal

Global Petroleum Ltd
19 December 2005


19 December 2005

                Global sells Falkland Gold and Minerals holding

Global Petroleum Limited announces that it has sold its 10.1% holding in
Falkland Gold and Minerals Limited (FGML). The sale was made at 10p per share or
£791,000 (A$1.86m).

The sale will supplement Global's cash resources to fund existing and potential
new projects. In L5 and L7 in Kenya where Global has 20% equity, Global is fully
carried for the drilling of two wells.

For further information:

Global Petroleum Limited
Dr John Armstrong                 Tel: [phone]
[e-mail]

Bell Pottinger Corporate & Financial
Nick Lambert                                           Tel: [phone]



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