Global Petroleum Regulatory News (GBP)

28 Dec 2006 11:27

Global Petroleum Ltd28 December 2006 Kenya - Drilling Report No 4 Date of this Release: 28 December 2006 *Well Name: Pomboo No. 1Licence: Kenya L-5Operator: Woodside Energy (Kenya) Pty LtdJoint Venture: Woodside Energy (Kenya) Pty Ltd 30% Dana Petroleum (E&P) Limited 30% Repsol Exploracion S.A. 20% Global Petroleum Limited 20%Start Date 2 December 2006 at 1915* hoursDepth at 0700 Hours 2,944 metres (751 metres below seabed). The current(Bris time) on 26 operation at that time was running in the hole with the 171December 2006* /2 inch drilling assembly. It is expected that drilling operations will recommence in the next 24 hours. • Footnote: Another transaction is pending which, subject to the necessarypermissions, will result in the transfer of a 3% interest in L-5 and L-7 fromDana to Repsol, resulting in Repsol having a 23% interest in L-5 and L-7 andDana a 27% interest. * Australian Eastern Standard Time The technical information in this report was prepared by Dr John Armstrong PhD,BSc (1st Hons) Geo, executive Chairman of Global Petroleum Limited who has 35years experience in the upstream oil and gas industry. The information has beenreviewed as to its reliability by Mr Wal Muir BSc Hons (UNSW) MBA (UQ), who is a partner in MBA Petroleum Consultants. MBA provides independent technical adviceto Global. Wal Muir has over 27 years experience in the petroleum explorationindustry both in Australia and overseas. He is a Distinguished Member of the Petroleum Exploration Society of Australia and a member of the Australian Society of Exploration Geophysicists.John Armstrong Executive Chairman Telephone: 61 7 3211 1122Fax: 61 7 3211 0133Web: www.global-petroleum.co.uk This information is provided by RNS The company news service from the London Stock Exchange