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Pin to quick picksGlobal Petroleum Share News (GBP)

Share Price Information for Global Petroleum (GBP)

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Share Price: 0.0425
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Change: -0.0125 (-22.73%)
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Global Petroleum First Half Loss Flat As It Works On Namibia Blocks

Wed, 14th Mar 2018 12:15

LONDON (Alliance News) - Global Petroleum Ltd on Wednesday reported a broadly flat annual loss for its first half, as it progressed on its exploration project in Namibia.

The company's pretax loss for the six months to December stood at USD975,145, compared to USD957,681 pretax loss in the prior year.

Cash at the end of 2017 was USD6.1 million, compared to USD7.8 million at the end of June, and the company has no debt.

Global Petroleum's main assets are the 1910B and 2010A offshore blocks in Namibia's Walvis basin, in which it has an 85% stake through its subsidiary Jupiter Petroleum (Namibia) Ltd.

During the period it agreed with the Namibian Ministry of Mines & Energy for an extension to December this year of the first renewal exploration period on its Walvis exploration licence.

It also acquired 2D seismic data over its acreage during June and July last year, completing interpretation, which contributed to a competent persons report which was finished after the period end.

In Italy, where it has four offshore applications, authorities released in October environmental decrees covering the final two applications in the southern Adriatic. A number of appeals were made against the decrees, against which Global Petroleum will defend as it did for the first two decrees.

Shares were down 3.8% on Wednesday at 1.78 pence each.

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(Alliance News) - Global Petroleum Ltd on Tuesday said its partnership agreement with Cynergy East Med LLC has mutually ended, following the resignation of the company's chair.

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Global Petroleum shares drop after chair resigns suddenly

(Alliance News) - Global Petroleum Ltd on Monday announced that Executive Chair Daniel Page has abruptly left after just over three months in the role.

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Global Petroleum inks partnership with Cynergy East Med

(Sharecast News) - Global Petroleum announced a development in its efforts to explore energy opportunities in the East Mediterranean on Friday, as it entered into a partnership agreement with Cynergy East Med.

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26 Jan 2024 12:24

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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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

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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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