Global Petroleum Regulatory News (GBP)

28 Apr 2005 11:55

Global Petroleum Ltd28 April 2005 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 entityGLOBAL PETROLEUM LIMITED ABN Quarter ended ("current quarter")68 064 120 896 31 MARCH 2005 Consolidated statement of cash flows Current Year to date quarter (9 months)Cash flows related to operating activities $A'000 $A'000 1.1 Receipts from product sales and related debtors - - 1.2 Payments for: (a) exploration and evaluation (26) (215) (b) development - - (c) production - - (d) administration (502) (1,402) 1.3 Dividends received - - 1.4 Interest and other items of a similar nature received 102 208 1.5 Interest and other costs of finance paid - - 1.6 Income taxes paid - - 1.7 Other - management fees 116 402 ---------- ------------ Net Operating Cash Flows (310) (1,007) Cash flows related to investing activities 1.8 Payment for purchases of: (a)prospects - - (b)equity investments (10) (1,904) (c)other fixed assets (12) (19) 1.9 Proceeds from sale of: (a)prospects - 853 (b)equity investments - - (c)other fixed assets - -1.10 Loans to other entities - -1.11 Loans repaid by other entities - -1.12 Other - security deposit refund - 61 ---------- ------------ Net investing cash flows (22) (1,009)1.13 Total operating and investing cash ---------- ------------ flows (carried forward) (332) (2,016) ---------- ------------ Cash flows related to financing activities1.14 Proceeds from issues of shares, options, etc. - 5,4601.15 Proceeds from sale of forfeited shares - -1.16 Proceeds from borrowings - -1.17 Repayment of borrowings - -1.18 Dividends paid - -1.19 Other (19) (56) ------------ ------------ Net financing cash flows (19) 5,404 ------------ ------------ Net increase (decrease) in cash held (351) 3,3881.20 Cash at beginning of quarter/year to date 7,028 3,2891.21 Exchange rate adjustments to item 1.20 - - ------------ ------------1.22 Cash at end of quarter 6,677 6,677 ------------ ------------ Payments to directors of the entity and associates of the directorsPayments to related entities of the entity and associates of the relatedentities Current quarter $A'0001.23 Aggregate amount of payments to the parties included in item 1.2 113 -------------1.24 Aggregate amount of loans to the parties included in item 1.10 - -------------1.25 Explanation necessary for an understanding of the transactions 1.23 - Payment of salaries/fees to directors under approved agreements 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 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 Financing facilities available Add notes as necessary for an understanding of the position. Amount available Amount used $A'000 $A'0003.1 Loan facilities Nil N/a ------------- -------------3.2 Credit standby arrangements Nil N/a ------------- ------------- Estimated cash outflows for next quarter $A'000 4.1 Exploration and evaluation 314 ------------------ 4.2 Development - ------------------ Total 314 ------------------ Reconciliation of cash Reconciliation of cash at the end of thequarter (as shown in the consolidated statement Current Previousof cash flows) to the related items quarter quarterin the accounts is as follows. $A'000 $A'000 5.1 Cash on hand and at bank 185 228 ------------ -------------5.2 Deposits at call 6,492 6,800 ------------ -------------5.3 Bank overdraft - - ------------ -------------5.4 Other (provide details) - - ------------ ------------- Total: cash at end of quarter (item 1.22) 6,677 7,028 ------------ ------------- Changes in interests in mining tenements Nature of Interest at Interest at Tenement interest beginning end of reference (note (2) of quarter quarter 6.1 Interests in ATP728P Applied for 100% 100% mining surrender tenements of ATP which relinquished, has not yet reduced or lapsed been confirmed. 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. Issue price per Amount paid up per security (see note 3) security (see note Total number Number quoted (cents) 3)(cents) 7.1 Preference +securities (description) None Changes during quarter None (a) Increases through issues (b) Decreases through returns of capital, buy-backs, redemptions 7.3 +Ordinary securities 169,294,787 168,579,805* 7.4 Changes during quarter *balance restricted (a) Increases through issues None (b) Decreases through returns of capital, buy-backs 7.5 +Convertible debt securities None (description) 7.6 Changes during quarter None (a) Increases through issues (b) Decreases through securities matured, converted 7.7 Options (description and conversion factor) Exercise price Expiry date A. 10,100,000 25 cents 30-06-2007 B. 1,000,000 25 cents 31-12-2005 C. 250,000 25 cents 31-12-2008 D. 10,000,000 25 cents 30-06-2008 7.8 Issued during quarter None 7.9 Exercised during quarter None 7.1 Expired during quarter None7.11 Debentures (totals only) None7.12 Unsecured notes (totals only) None Compliance statement 1 This statement has been prepared under accounting policies which comply with accounting standards as defined in the Corporations Act or other standards acceptable to ASX (see note 4). 2 This statement does give a true and fair view of the matters disclosed. Sign here: Company Secretary Date: 28 April 2005 Print name: Desmond Frederick Olling Notes 1 The quarterly report provides a basis for informing the market how the entity's activities have been financed for the past quarter and the effect on its cash position. An entity wanting to disclose additional information is encouraged 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 of interests in mining tenements acquired, exercised or lapsed during the reporting period. If the entity is involved in a joint venture agreement and there are conditions precedent which will change its percentage interest in a mining tenement, it should disclose the change of percentage interest and conditions precedent in the list required for items 6.1 and 6.2. 3 Issued and quoted securities The issue price and amount paid up is not required in items 7.1 and 7.3 for fully paid securities. 4 The definitions in, and provisions of, AASB 1022: Accounting for Extractive Industries and AASB 1026: Statement of Cash Flows apply to this report. 5 Accounting Standards ASX will accept, for example, the use of International Accounting Standards for foreign entities. If the standards used do not address a topic, the Australian standard on that topic (if any) must be complied with. This information is provided by RNS The company news service from the London Stock Exchange