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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: 0.045
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Global Petroleum Raises GBP1.4 Million To Fund Work Programmes

Wed, 16th Sep 2020 11:35

(Alliance News) - Global Petroleum Ltd on Wednesday said it has raised GBP1.4 million through the issue of 186.7 million shares at 0.75 pence each.

Shares in the oil & gas, upstream exploration company were trading 31% lower at 0.92p each on Wednesday morning in London.

Global Petroleum stated it raised GBP1.3 million through the placing of 177 million shares at 0.75p each. In addition, Chief Executive Peter Hill, Non-Executive Chair John van der Welle and Non-Executive Directors Peter Taylor, Peter Blakey, Andrew Draffin subscribed for a total of 9.7 million shares at the same price.

The Australia-based company said the new cash will be used to fund work commitments in PEL 0029 during the remaining period of the licence, as well as in PEL 0094 for the forthcoming exploration period until September 2021. It added it intends to seek a farm-in partner for exploration drilling on PEL 0094 and potentially also to progress the work programme over the PEL 0029 area.

"The funds raised will enable us to undertake our planned work on our Namibian acreage, which was further de-risked following our recent re-interpretation of the historic 3D seismic on PEL 0094. We shall also renew our farm-out campaign at a time when we believe there is substantial interest in Namibia following the recent acreage acquisitions by majors and NOCs, as well as the upcoming wells," said Chief Executive Officer Peter Hill

Following admission, Global Petroleum will have 389.3 million shares in issue.

By Ife Taiwo; ifetaiwo@alliancenews.com

Copyright 2020 Alliance News Limited. All Rights Reserved.

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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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Friday 22 December 
Corcel PLCAGM
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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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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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