Global Petroleum Regulatory News (GBP)

30 Sep 2005 13:12

Global Petroleum Ltd30 September 2005 Financial Report- 30 June 2005 In lodging the 2005 Financial Report we advise that in June 2003 and June 2004the Executive Chairman of Global Petroleum Limited Dr John Armstrong was issuedwith 20 million options (two parcels of 10 million options each) with expirydates of 30 June 2007 and 30 June 2008 respectively. On 14 September 2005 the company announced the cancellation of the second parcelof options. The exercise of these options was conditional upon the Companyentering into a production sharing agreement in Iraq before the expiry date of30 June 2008. It was also announced that the expiry date of the first parcel ofoptions was to be extended by two years from 30 June 2007. While the ASX Listing Rules allow for the cancellation of options, additionaladvice was received that extending the expiry date of options cannot be made.Directors have now decided not to cancel the second parcel of options expiring30 June 2008 and leave the status of both parcels of options as they were. Des OllingCompany SecretaryGlobal Petroleum LimitedLevel 9, 46 Edward StreetBrisbane, Qld 4000Tel: (07) 3211 1122Fax: (07) 3211 0133E-mail: des.olling@globalpetroleum.com.au This information is provided by RNS The company news service from the London Stock Exchange