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Global Petroleum Ltd (GBP)

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Wednesday 12 July, 2017

Global Petroleum Ltd

Namibia 2D Seismic Survey Update

RNS Number : 7712K
Global Petroleum Ltd
12 July 2017
 

12 July 2017

 

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")

 

Namibia 2D seismic survey

Completion of data acquisition

 

Global Petroleum (AIM: GBP, ASX: GBP) announces the completion of the 2D seismic acquisition programme previously announced, in the Company's operated block (PEL 0029) in Namibia.  The survey - comprising 834 km of full fold 2D seismic data - was carried out by Seabird Exploration of Norway, and shooting took only 10 days, completing on 3 July 2017.  The total cost of the acquisition is approximately US$740,000, excluding processing.

 

Processing of the acquired data is about to commence and is expected to be finalised around the end of September 2017. Initial examination of the high quality raw data confirms the extremely large extent of the Gemsbok prospect in the south east of the block. Following processing and interpretation of the data the Company will determine its plans for the next phase of exploration.

 

http://www.rns-pdf.londonstockexchange.com/rns/7712K_-2017-7-11.pdf

 

Global's Licence PEL 0029, in which the Company hold an 85% interest and operatorship, covers Offshore Blocks 1910B and 2010A in the Republic of Namibia.  The Gemsbok prospect is located at a total depth of around 3,000 metres - in water depths of approximately 1,400 metres.

 

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

 

Global Petroleum Limited


Peter Hill, Managing Director & CEO

+44 (0) 20 7495 6802

Damien Cronin, Company Secretary

+61 (0) 7 3310 8732

Cantor Fitzgerald Europe (Nominated Adviser & Joint Broker)


Sarah Wharry / Craig Francis

+44 (0) 20 7894 7000

GMP FirstEnergy Capital LLP (Joint Broker)


Hugh Sanderson

+44 (0) 20 7448 0200

Tavistock (Financial PR & IR)


Simon Hudson / Niall Walsh

+44 (0) 20 7920 3150

 

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This information is provided by RNS
The company news service from the London Stock Exchange
 
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