Uganda Update

RNS Number : 1198V

Global Petroleum Ltd

06 January 2012

 



 

6 January 2012

RNS AIM release

Global Petroleum Limited - Uganda Update

Global Petroleum Limited ("Global") advises that following recent discussions with Tower Resources plc, it has chosen not to take up its option to participate in the third well planned on Uganda License EA5 ("EA5"). 

By agreement with Neptune Petroleum (Uganda) Limited (a wholly owned subsidiary of Tower Resources plc) in June 2010, Global had previously retained an option to earn an interest in EA5 as a result of contributing to the funding of the first two wells in the project, which is located in north western Uganda.

Enquiries:

Global Petroleum Limited
Peter Hill	Tel	[phone]
Managing Director and CEO
Damien Cronin	Tel	[phone]
Company Secretary	Email	[e-mail]
Northland Capital Partners Limited (Nominated Adviser and Broker)
William Vandyk	Tel	[phone]

 

END

 

 

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