Global Petroleum Share Price (GBP)

GBP getting all their duck in a row for a farm out, finalising their minimum exploration expenditure of the firm work commitment. The precise quantum is currently being negotiated between Global and the Ministry with the matter expected to be resolved in April 2024. An announcement any day.

It won’t take much to move this up again , this afternoon has shown

Blue

Nobody knew about this🤔

Highlights Operational

• The focus during the reporting period, and subsequently, has been the Company’s farm-out process and entering the next exploration period in respect of its Namibian licence PEL0094 (“Licence”);

• On 14 August 2023 the Company announced that the Namibian authorities had given approval for the Company and its partners to proceed to the First Renewal Period of the Licence, with a duration of two years from September 2023 to September 2025. Importantly, the usual requirement at the end of the Initial Exploration Period to relinquish 50 per cent of the Licence area was waived; • Global has continued its efforts to farm-out an interest in the Licence. Further announcements will be made as and when appropriate;

• On 15 September 2023, the Company announced that it had been informed that appeals against the environmental decrees granted in its favour for Licence Applications D 80 F.R- GP, D 81 F.R-GP, D 82 F.R­GP and D 83 F.R-GP (“the Applications”) by the Italian authorities had been dismissed. The Company submitted additional documentation in connection with the Applications to the Italian Ministry of Ecological Transition and has been awaiting a response from the Ministry regarding the process going forward. Further announcements will be made as and when appropriate.