Kenya Update

20 April 2010

RNS AIM release

KENYA JOINT VENTURE - UPDATE OF LEGAL PROCEEDINGS

As previously advised, Global Petroleum Limited ("Global") and joint venture partner Dana Petroleum (E&P) Limited ("Dana") had commenced legal proceedings in the English High Court of Justice against Woodside Energy (Kenya) Pty Limited ("Woodside") as a result of Woodside's decision not to drill a second exploratory well in the project area, offshore Kenya.

The parties have reached a mutual agreement to withdraw from legal proceedings, with a lump sum payment of US$12 million (approximately A$12.98 million) to be received by Dana and Global jointly, apportioned on a 50/50 basis.

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