Global Petroleum Regulatory News (GBP)

12 Dec 2006 13:49

Global Petroleum Ltd12 December 2006 12 December 2006 Kenya - Drilling Report No 2 Well Name: Pomboo No. 1 Licence: Kenya L-5 Operator: Woodside Energy (Kenya) Pty Ltd Joint 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* hours Depth at 1300 Hours 11 December 2006 2,944 metres (751 metres below seabed), 20 inch casing has been set and preparations now underway to recommence drilling. * 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. 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 apartner 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 thePetroleum Exploration Society of Australia and a member of the AustralianSociety of Exploration Geophysicists. John ArmstrongExecutive 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