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Pin to quick picksTower Resources Regulatory News (TRP)

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Uganda Update

6 Jan 2012 07:54

RNS Number : 1198V
Global Petroleum Ltd
06 January 2012
 



 

6 January 2012

RNS AIM release

 

Global Petroleum Limited - Uganda Update

 

Global Petroleum Limited ("Global") advises that following recent discussions with Tower Resources plc, it has chosen not to take up its option to participate in the third well planned on Uganda License EA5 ("EA5").

 

By agreement with Neptune Petroleum (Uganda) Limited (a wholly owned subsidiary of Tower Resources plc) in June 2010, Global had previously retained an option to earn an interest in EA5 as a result of contributing to the funding of the first two wells in the project, which is located in north western Uganda.

 

 

 

Enquiries:

 

Global Petroleum Limited

Peter Hill

Tel

+44 20 7867 8600

Managing Director and CEO

Damien Cronin

Tel

+61 7 3310 8732

Company Secretary

Email

global.info@globalpetroleum.com.au

Northland Capital Partners Limited (Nominated Adviser and Broker)

William Vandyk

Tel

+44 20 7796 8800

 

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
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