Global Petroleum reports delays in Jupiter acquisition

Global Petroleum has extended the deadline for the acquisition of Nambia- and Mozambique Channel-based oil and gas group Jupiter Petroleum, as a result of delays in many of the agreement conditions.The Australia-based oil and gas firm proposed the acquisition back in January, and said it is conditional on a number of conditions, including due diligence investigations, consent from the Namibian Competition Commission and shareholder approvals.Due to delays, the end date for satisfaction of the conditions has been pushed back from 30 June to 31 August.---BC