Kenya Drilling Report no.5

3 Jan 2007 08:48

Global Petroleum Ltd03 January 2007 3 January 2007 Global Petroleum Ltd Kenya - Drilling Report No 5 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 4,004 metres (1,811 metres below seabed). Preparing to run 13Hours (Bris time) 3/8 inch casing and then drill ahead in a few days time. Theon 3 January 2007* planned total depth is about 5,000 metres and the objectives of the well are towards the deeper part of the interval that remains to be drilled. 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 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 ChairmanTelephone: +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