6 Jan 2012 07:54
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 | global.info@globalpetroleum.com.au | |
Northland Capital Partners Limited (Nominated Adviser and Broker) | ||
William Vandyk | Tel | +44 20 7796 8800 |
Global Petroleum (GBP)
Tower Resources (TRP)