Re: FOGL announcement

Global Petroleum Ltd
02 January 2007


2 January 2007

Global Petroleum advises that Falkland Oil and Gas Limited ('FOGL') has
announced the completion of its convertible loan agreement with RAB Special
Situations (Master) Fund Limited to raise 8 million. The full announcement can
be found on the FOGL website at www.fogl.co.uk .

Global Petroleum holds a 14% interest in FOGL.

John Armstrong
Executive Chairman
Telephone: [phone]
Fax : [phone]
Web: www.global-petroleum.co.uk




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