Re: Appointment of Advisor

RNS Number : 7083R

Global Petroleum Ltd

09 November 2021

 

9 November 2021

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 ('MAR'). Upon the publication of this announcement via a Regulatory Information Service ('RIS'), this inside information is now considered to be in the public domain.

Global Petroleum Limited

("Global" or "the Company")

Re: Appointment of Advisor

Global Petroleum Limited (AIM: GBP) announces that it has appointed an advisor, PVE Consultants, to assist in the farmout of its Licence PEL 0094, offshore Namibia.

Global will also be making a presentation regarding PEL 0094 later this week at the Africa Oil Week Conference in Dubai, and a copy of the presentation will be available on the Company's website thereafter.

In the course of the farmout process which the Company has been conducting for PEL 0094, it has become evident that potentially interested parties are awaiting the outcome of the drilling programme in Namibia's Orange Basin, to be undertaken by the energy majors, Total (Venus-1) and Shell (Graff-1).  Both wells were reportedly scheduled to spud in Q4 2021, although no firm dates are currently known.

Peter Hill, Global Petroleum's CEO, commented:

" Given the feedback which we have had from the energy industry with regard to the upcoming drilling by Total and Shell, we feel that it would be advantageous for the Company to be positioned in the market with the assistance of an experienced advisor over the upcoming period, and we are pleased to have PVE Consultants on board for that purpose."

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

Global Petroleum Limited	[phone]
Peter Hill, Managing Director & CEO Andrew Draffin, Company Secretary
Panmure Gordon (UK) Limited (Nominated Adviser & Joint Broker)	[phone]
Hugh Rich / Nick Lovering / Ailsa MacMaster Nominated Adviser: John Prior
ETX Capital (Joint Broker) Thomas Smith	[phone]
Tavistock (Financial PR & IR)  Simon Hudson / Nick Elwes	[phone]

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