Last checked at 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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Global Petroleum Information
Share Price Information for Global Petroleum (GBP)
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Share Price:
0.0575
Bid:
0.055
Ask:
0.06
Change:
0.00 (0.00%)
Spread:
0.005 (9.091%)
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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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14 Aug 2023 09:07
IN BRIEF: Global Petroleum says Walvis Basin licence renewal approved
Global Petroleum Ltd - Africa and Mediterranean focused oil and gas explorer - Receives approval from the Namibian Ministry of Mines & Energy for the next licence phase of Walvis Basin PEL 94. Says the first renewal period for the licence will allow it to acquire, process and interpret 2,000 kilometres of 3D seismic data from the initial exploration period. Adds that the renewal period will last from this September to September 2025. Notes that the ministry has waived the requirement to relinquish 50% of the licence area at the end of the initial exploration period.
Read more27 Mar 2023 18:42
TRADING UPDATES: Sabien works with Empiric; Coro sells in Italy
(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Monday and not separately reported by Alliance News:
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EARNINGS SUMMARY: DFS Furniture profit drops; National World profit up
(Alliance News) - The following is a round-up of earnings by London-listed companies, issued on Thursday and not separately reported by Alliance News:
Read more25 Nov 2022 15:44
UK shareholder meetings calendar - next 7 days
| Monday 28 November | |
| Crown Place VCT PLC | AGM |
| European Smaller Cos Trust PLC | AGM |
| JPMorgan Global Emerging Markets Income Trust PLC | AGM |
| PRS REIT PLC | AGM |
| Psych Capital PLC | AGM |
| Seeing Machines Ltd | AGM |
| Tuesday 29 November | |
| Aura Energy Ltd | AGM |
| Bluefield Solar Income Fund Ltd | AGM |
| Castillo Copper Ltd | AGM |
| Challenger Energy Group PLC | AGM |
| CT Property Trust Ltd | AGM |
| Duke Royalty Ltd | AGM |
| Esken Ltd | EGM re borrowings approval |
| Mosman Oil & Gas Ltd | AGM |
| Wednesday 30 November | |
| abrdn Asia Focus PLC | AGM |
| Atlantic Lithium Ltd | AGM |
| Chamberlin PLC | AGM |
| Coral Products PLC | GM re proposed cancellation of share premium account |
| Dunelm Group PLC | AGM |
| Ferguson PLC | AGM |
| Gabelli Merger Plus+ Trust PLC | AGM |
| Grit Real Estate Income Group Ltd | AGM |
| Leeds Group PLC | AGM |
| Life Science REIT PLC | GM re issue of the new ordinary shares |
| MC Mining Ltd | AGM |
| Pires Investments PLC | AGM |
| Renishaw PLC | AGM |
| Thursday 1 December | |
| Aptamer Group PLC | AGM |
| Bowleven PLC | AGM |
| CQS New City High Yield Fund Ltd | AGM |
| essensys PLC | AGM |
| James Halstead PLC | AGM |
| Kin & Carta PLC | AGM |
| Transense Technologies PLC | AGM |
| Vast Resources PLC | AGM |
| Virgin Wines UK PLC | AGM |
| Friday 2 December | |
| De La Rue PLC | GM re company chairman resignation |
| Global Petroleum Ltd | AGM |
| Highbridge Tactical Credit Fund Ltd | AGM |
| Orosur Mining Inc | AGM |
| Revolution Bars Group PLC | AGM |
| Ruffer Investment Co Ltd | AGM |
| Schroder BSC Social Impact Trust PLC | AGM |
| SLF Realisation Fund Ltd | AGM |
| Copyright 2022 Alliance News Limited. All Rights Reserved. | |
26 Oct 2022 12:29
Global Petroleum narrows loss; optimistic on Orange Basin drilling
Global Petroleum Ltd - oil & gas exploration in Africa and the Mediterranean - Pretax loss in the year that ended June 30 narrows to USD1.6 million from USD3.9 million a year ago. Posts no revenue, unchanged year-on-year. Has no costs related to exploration write-offs, compared to USD2.4 million a year prior.
Read more31 Aug 2022 16:46
IN BRIEF: Global Petroleum raises GBP800,000 through placing
Global Petroleum Ltd - oil & gas exploration in Africa and the Mediterranean - Raises GBP800,000 through a placing of 228.6 million shares at a price of 0.35 pence each.
Read more22 Jun 2022 19:39
TRADING UPDATES: Vertu margins remain strong; Donegal behind
(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Wednesday and not separately reported by Alliance News:
Read more22 Jun 2022 13:28
Global Petroleum updates on operations in Namibia, Italy
(Sharecast News) - Global Petroleum updated the market on its operations in Namibia and Italy on Wednesday, after the granting of a one-year extension to the initial exploration period of PEL 94 In Namibia until September 2023.
Read more25 Apr 2022 20:21
IN BRIEF: Global Petroleum granted one year extension by Nambia
Global Petroleum Ltd - oil & gas exploration in Africa and the Mediterranean - Says Namibian authorities have granted a one-year extension to the initial exploration period of PEL 94 well, to September 2023 from September 2022.
Read more30 Mar 2022 14:22
EARNINGS UPDATES: Barkby pubs bounce back; Catalyst Media in profit
(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Wednesday and not separately reported by Alliance News:
Read more14 Feb 2022 22:19
TRADING UPDATES: BioPharma backs Collegium; Eurasia creates Kola
(Alliance News) - The following is a round-up of updates by London-listed companies, issued Monday and not separately reported by Alliance News:
Read more7 Feb 2022 12:35
IN BRIEF: Tower Resources, Global Petroleum encouraged by Graff-1
IN BRIEF: Tower Resources, Global Petroleum encouraged by Graff-1
Read more24 Jan 2022 16:05
UK shareholder meetings calendar - next 7 days
UK shareholder meetings calendar - next 7 days
Read more14 Jan 2022 10:54
Global Petroleum pleased with European Court finding
(Sharecast News) - Global Petroleum announced on Friday that the European Court had effectively found that its four permit applications in the Southern Adriatic, offshore Italy, did not contravene European Union law.
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