Global Petroleum Regulatory News (GBP)

31 Oct 2007 17:32

Global Petroleum Ltd31 October 2007 Rule 5.3 Appendix 5B Mining exploration entity quarterly report Introduced 1/7/96. Origin: Appendix 8. Amended 1/7/97, 1/7/98, 30/9/2001. Name of entity GLOBAL PETROLEUM LIMITED ABN Quarter ended ("current quarter") 68 064 120 896 30 SEPTEMBER 2007 Consolidated statement of cash flows Current quarter Year to date Cash flows related to operating $A'000 (3 months)activities $A'000 1.1 Receipts from product sales and - - related debtors 1.2 Payments for (a) exploration and evaluation (145) (145) (b) development - - (c) production - - (d) administration (202) (202) 1.3 Dividends received - -1.4 Interest and other items of a similar nature received 97 971.5 Interest and other costs of finance - - paid 1.6 Income taxes paid - -1.7 Other (provide details if material) - - Net Operating Cash Flows (250) (250) Cash flows related to investing activities 1.8 Payment for purchases of: (a) prospects - - (b) equity investments - - (c) other fixed assets - -1.9 Proceeds from sale of: (a) prospects - - (b) equity investments - - (c) other fixed assets - -1.10 Loans to other entities - -1.11 Loans repaid by other entities - -1.12 Other (provide details if material) - - Net investing cash flows - -1.13 Total operating and investing cash flows (carried forward) (250) (250) 1.13 Total operating and investing cash flows (brought forward) (250) (250) Cash flows related to financing activities 1.14 Proceeds from issues of shares, - - options, etc. 1.15 Proceeds from sale of forfeited - - shares 1.16 Proceeds from borrowings - -1.17 Repayment of borrowings - -1.18 Dividends paid - -1.19 Other (provide details if - - material) Net financing cash flows - - Net increase (decrease) in cash (250) (250) held 1.20 Cash at beginning of quarter/year 6,325 6,325 to date 1.21 Exchange rate adjustments to item - - 1.20 1.22 Cash at end of quarter 6,075 6,075 Payments to directors of the entity and associates of the directors Payments to related entities of the entity and associates of the relatedentities Current quarter $A'000 1.23 Aggregate amount of payments to the parties 70 included in item 1.2 1.24 Aggregate amount of loans to the parties included - in item 1.10 1.25 Explanation necessary for an understanding of the transactions Payments include consulting fees, director's fees, and provision of a serviced office. Non-cash financing and investing activities 2.1 Details of financing and investing transactions which have had a material effect on consolidated assets and liabilities but did not involve cash flows N/a 2.2 Details of outlays made by other entities to establish or increase their share in projects in which the reporting entity has an interest N/a Financing facilities available Add notes as necessary for an understanding of the position. Amount available Amount used $A'000 $A'000 3.1 Loan facilities Nil Not Applicable 3.2 Credit standby arrangements Nil Not Applicable Estimated cash outflows for next quarter $A'0004.1 Exploration and evaluation 150 4.2 Development - Total 150 Reconciliation of cash Reconciliation of cash at the end of the Current quarter Previous quarterquarter (as shown in the consolidated $A'000 $A'000 statement of cash flows) to the related items in the accounts is as follows. 5.1 Cash on hand and at bank 278 4225.2 Deposits at call 5,797 5,9035.3 Bank overdraft - -5.4 Other (provide details) - - Total: cash at end of quarter (item 6,075 6,325 1.22) Changes in interests in mining tenements Tenement Nature of Interest Interest reference interest beginning at at end of (note (2)) of quarter quarter 6.1 Interests in mining tenements relinquished, reduced or lapsed 6.2 Interests in mining tenements acquired or increased Issued and quoted securities at end of current quarter Description includes rate of interest and any redemption or conversion rightstogether with prices and dates. Total number Number quoted Issue price Amount paid up per security per security (see note 3) (see note 3) (cents) (cents) 7.1 Preference + securities (description) 7.2 Changes during quarter (a) Increases through issues (b) Decreases through returns of capital, buy-backs, redemptions 7.3 +Ordinary 174,444,787 174,444,787 securities 7.4 Changes during quarter (a) Increases through issues (b) Decreases through returns of capital, buy-backs 7.5 +Convertible debt securities (description) 7.6 Changes during quarter (a) Increases through issues (b) Decreases through securities matured, converted 7.7 Options Exercise Expiry date (description price and conversion 200,000 $0.25 31-12-2008 factor) 10,000,000 $0.25 30-06-2008 7.8 Issued during quarter 7.9 Exercised during quarter 7.10 Expired during quarter 7.11 Debentures (totals only) 7.12 Unsecured notes (totals only) Compliance statement 1 This statement has been prepared under accounting policies which comply withaccounting standards as defined in the Corporations Act or other standardsacceptable to ASX (see note 4). 2 This statement does /does not* (delete one) give a true and fair view of thematters disclosed. Sign here: ............................................. Date: 31 October 2007 (Company secretary) Print name: SHANE CRANSWICK Notes 1 The quarterly report provides a basis for informing the market how theentity's activities have been financed for the past quarter and the effect onits cash position. An entity wanting to disclose additional information isencouraged to do so, in a note or notes attached to this report. 2 The "Nature of interest" (items 6.1 and 6.2) includes options in respect ofinterests in mining tenements acquired, exercised or lapsed during the reportingperiod. If the entity is involved in a joint venture agreement and there areconditions precedent which will change its percentage interest in a miningtenement, it should disclose the change of percentage interest and conditionsprecedent in the list required for items 6.1 and 6.2. 3 Issued and quoted securities The issue price and amount paid up is notrequired in items 7.1 and 7.3 for fully paid securities. 4 The definitions in, and provisions of, AASB 1022: Accounting for ExtractiveIndustries and AASB 1026: Statement of Cash Flows apply to this report. 5 Accounting Standards ASX will accept, for example, the use ofInternational Accounting Standards for foreign entities. If the standards useddo not address a topic, the Australian standard on that topic (if any) must becomplied with. For further information please contact: Mark Savage (Chairman)001 505 344 2822 KBC Peel Hunt (Nominated Adviser & Broker)Matt Goode020 7418 8900 This information is provided by RNS The company news service from the London Stock Exchange