Last checked at 11 Jun 2009 11:32
PRICE MOVEMENT AND UPDATE ON ITI-1 DRILLING OPERATIONS
Global Petroleum Limited ("Global" or "the Company") notes the movement in both the price of the Company's shares and those of Tower Resources plc ("Tower").
Global draws its shareholders' attention to Tower's announcement that the Iti-1 well, Tower's first exploration well in Uganda Licence EA5, in which Global is earning up to a 50% interest, has reached total depth of 592 meters in basement. Electric logging operations, including wireline formation pressure and fluid sampling are underway and the outcome of the well cannot be determined until interpretation of this information has been completed. An announcement will be made as soon as clear results have been obtained.
Enquiries:
Global Petroleum Limited
Shane Cranswick + 61 8 9322 6322
global.info@globalpetroleum.com.au
Blue Oar Securities Plc (Nominated Adviser and Broker)
William Vandyk +44 20 7448 4400