Stmnt re Share Price Movement

Global Petroleum Ltd
08 March 2005

For immediate release                                              8 March 2005
                            
                            Global Petroleum Limited
                           Statement re price movement

Global Petroleum Limited ('Global' or the 'Company') today announces that it
recently received a letter from the regulator of the Australian Stock Exchange
('ASX') regarding a substantial movement in the Company's share price and a
substantial increase in volume of the number of the Company's securities traded
on the ASX.

In accordance with ASX listing requirements, both the initial letter and the
Company's response is required to be made public. In its response, the Company
confirmed the following:

1.   Global is not aware of any information concerning it that has not
been announced to the market which if known could be an explanation for recent
trading in securities in the Company.  Global advised on the 3 February that it
intended to apply for admission to AIM.  The reason for the admission was to
expose its emerging oil and gas activities to the London capital market.  On 3
March, the Company again released to the ASX market an announcement that it
anticipated being admitted to AIM on 7 March;

2.   Global has maintained its policy of keeping the market fully informed and 
any other explanation for its share price increase and increase in
volume traded may be due to the fact that the ASX market has anticipated its
admission to the AIM market in the UK, yesterday 7 March 2005;

3.   That it is in compliance with the ASX Listing Rules and in particular ASX 
Listing Rule 3.1.

                                      END


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