LONDON (Alliance News) - Global Petroleum Ltd Thursday said it has moved onto the next phase in the award process for its four exploration applications offshore Italy, having submitted documentation to the relevant authorities at the end of May in relation to environmental impact in the exploration areas.
The company said discussions have also commenced with the Namibian Authorities, in the context of the wider operational environment in the country with a view to seeing if a mutually acceptable future work programme on Global Petroleum's blocks can be achieved.
Additionally, discussions are ongoing with the French Authorities to renew the Juan de Nova Est permit for a five year term. If renewable is granted, Global will become the operator with an increased equity in the permit.
The company will publish its full-year results to June 30 in September.
Global Petroleum shares were quoted down 3.8% at 3.85 pence Thursday morning.
By Anthony Tshibangu; anthonytshibangu@alliancenews.com; @AnthonyAllNews
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Global Petroleum (GBP)