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Pin to quick picksGlobal Petroleum Share News (GBP)

Share Price Information for Global Petroleum (GBP)

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Global Petroleum agrees work commitment on Namibian licence

Fri, 01st Mar 2019 11:28

(Sharecast News) - Global Petroleum updated the market on its work commitment at Petroleum Exploration Licence 0029 (PEL0029) in Namibia on Friday.The AIM-traded firm had announced an extension to the first renewal exploration period of 12 months to 3 December in late November, as well as entry into the second renewal period from 3 December, for a period of two years.It explained that the licence covered the 1910B and 2010A blocks in the Walvis Basin, offshore Namibia.Global said it had now agreed a work commitment for the second renewal period with the Namibian Ministry of Mines and Energy.It said the firm additional work programme consisted of various studies, including mapping of source rock, mapping of contourites deposits, fault studies and amplitude versus offset (AVO) analyses and extended elastic impedance (EEI) studies on seismic data.The financial commitment to undertake the firm additional work programme was $0.35m.In addition, and carried over from the first renewal period extension, was the acquisition of 600 square kilometres of 3D seismic data, contingent on Global concluding a farmout, as well as the drilling of one exploration well.The Ministry had also waived the requirement to surrender a further 25% of the original licence area, which is normally required at the end of the first renewal period - with 50% having already been surrendered in accordance with the petroleum agreement at the end of the initial exploration period.Global said "significant" prospective resources had been calculated on three prospects and two leads in the licence area, which were detailed in the Competent Person's Report released in January.The Albian carbonates were the main reservoir for the three prospects, with the primary prospect - Gemsbok - also having prospective resources in two deeper layers.One of the two leads, Choje, had Upper Cretaceous deep water sandstones as its reservoir.Both the Albian carbonate and Upper Cretaceous sandstone plays were currently being worked up further, both in PEL0029 and in Global's adjacent licence, PEL0094.The board said further details would be released when work was complete."We are pleased to have been able to reach agreement with the Ministry in relation to the work programme going forward on PEL0029," said Global Petroleum chief executive officer Peter Hill."We look forward to progressing our work both on PEL0029 and the adjacent PEL0094, and to finding the right partner to fund the larger commitments on this exciting acreage, where we hold 85% interests."
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Global Petroleum inks partnership with Cynergy East Med

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Global Petroleum inks Cynergy deal for East Mediterranean exploration

(Alliance News) - Global Petroleum Ltd on Friday said it will partner with Cynergy East Med LLC to explore energy opportunities in the East Mediterranean.

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21 Dec 2023 15:43

UK shareholder meetings calendar - next 7 days

Friday 22 December 
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European Metals Holdings LtdAGM
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no events scheduled 
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Thursday 28 December 
ADVFN PLCAGM
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Global Petroleum LtdAGM
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Copyright 2023 Alliance News Ltd. All Rights Reserved. 

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30 Nov 2023 12:02

Global Petroleum raises GBP253,000 for Walvis Basin progress

(Alliance News) - Global Petroleum Ltd on Thursday said it has raised GBP253,000 through the placing of 421.7 million new shares at 0.06 pence each.

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27 Nov 2023 17:58

Global Petroleum appoints new executive chair and executive director

(Alliance News) - Global Petroleum Ltd on Monday said it appointed a new executive chair with immediate effect, alongside an executive director.

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7 Nov 2023 20:32

Global Petroleum shareholder asks to remove CEO, chair and non-exec

(Alliance News) - Global Petroleum Ltd on Monday said it was working with its shareholder, who asked for the removal of the company's chief executive, chair, and a non-executive director.

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27 Oct 2023 15:37

Global Petroleum shares fall as cash reserves drop but profit narrows

(Alliance News) - Global Petroleum Ltd shares plunged on Friday, despite reporting annual profit narrowing, as cash reserves have fallen significantly across the year.

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27 Oct 2023 10:32

AIM WINNERS & LOSERS: FireAngels surges on GBP28 million buyout

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15 Sep 2023 18:48

IN BRIEF: Global Petroleum says appeals involve further applications

Global Petroleum Ltd - Africa and Mediterranean focused oil and gas explorer - Says the recent judgements by the Italian Council of State dismissing appeals against environment decrees granted in its favour also encompassed its permit applications D 80 F.R GP and D 81 F.R GP. Explains this means that the Council of State has dismissed appeals by the town of Margherita di Savoia in respect of all four of Global's applications: D 80 F.R- GP, D 81 F.R-GP, D 82 F.R-GP and D 83 F.R-GP. Company will now assess its options regarding the applications.

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13 Sep 2023 17:17

IN BRIEF: Global Petroleum to pursue permits after appeals dismissed

Global Petroleum Ltd - Africa and Mediterranean focused oil and gas explorer - Says appeals against the environmental decrees granted in its favour by the Italian authorities have recently been dismissed by the Council of State. Explains the actions were brought by the municipality of Margherita di Savoia in Puglia against the relevant Italian ministries and entities - with Global joined as an "interested party" - and related to the company's applications known as d 82 FR-GP and d 83 FR-GP. Adds there are two similar cases still outstanding, and the same outcome is expected in relation to them. Notes the latest judgements in Global's favour follow victories in all of the cases brought against the company by various entities in Puglia. Points out the ruling allows Global to pursue with the Italian authorities the grant of exploration permits in relation to d 82 FR-GP and d 83 FR-GP.

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13 Sep 2023 13:20

Global Petroleum upbeat on Italy appeal dismissal after fundraising

(Sharecast News) - Global Petroleum said in an update on Wednesday that it had raised £0.25m at the end of August, through the placing of 250 million shares at a placing price of 0.1p each.

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31 Aug 2023 17:07

IN BRIEF: Global Petroleum falls on heavily discounted fundraise

Global Petroleum Ltd - Africa and Mediterranean focused oil and gas explorer - Raises GBP250,000 via placing of 250 million shares at 0.1 pence per share. The placing price represents a discount of 38% to the closing price on Wednesday. Further, 250 million warrants are also being issued at an exercise price of 0.1 pence each for a period of 3 years on the basis of 1 warrant for every share issued under the placing. Should the warrants be exercised in full, associated proceeds would be GBP250,000, making total proceeds of GBP500,000. Proceeds will be used for further technical work in relation to PEL 94, as previously announced, as well as providing general working capital.

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14 Aug 2023 09:38

Global Petroleum shares rise on progress in Namibia

(Sharecast News) - Shares in Global Petroleum jumped on Monday after the AIM-listed oil and gas group said its flagship project in Namibia has entered its next phase.

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