Global Petroleum Share News (GBP)

Global Petroleum saw its share price slightly rise after updating the market on its progress for the quarter ended September. During the period the firm acquired Jupiter Petroleum, which holds prospective oil and gas exploration interests in offshore Namibia and in offshore Juan de Nova, a French dependency in the Mozambique Channel. Interpretation of data which the firm acquired over the period shows potentially significant strategic plays, the company said. Jupiter has a 30% interest, equivalent to €8.38m, in the Juan de Nova permit, an area where no systematic petroleum exploration has taken place. Wessex, the firm which owns the remaining 70%, is currently looking to find another partner willing to fun exploration activities in the area. During the quarter, Global successfully drilled 4,500 ft at the second Eagle Ford well, in which Global has a 7.9% interest, where drilling achieved 1,488 barrels of oil per day at 92% oil. The share price rose 1.87% to 13.62p by 15:10.NR