TIDMGBP

RNS Number : 4590H

Global Petroleum Ltd

08 June 2017

08 June 2017

Global Petroleum Limited

("Global" or "the Company")

Seismic survey

Global Petroleum (AIM: GBP, ASX: GBP) is pleased to announce that it has entered into a contract with Seabird Exploration of Norway in order to acquire 834 km of full fold 2D seismic data covering Global's operated block (PEL 0029) in Namibia.

http://www.rns-pdf.londonstockexchange.com/rns/4590H_-2017-6-7.pdf

The survey has been designed as an infill programme with the aim of providing better delineation of an extremely large, multi-level, dip closed prospect - Gemsbok -which has been mapped in the south eastern portion of the Global acreage.

The new 2D survey is expected significantly to clarify the nature and extent of Gemsbok. In addition, the survey has been specifically designed to improve resolution of the deeper syn-rift section adjacent to the Gemsbok structure, as well as to provide a more accurate understanding of the deeper sedimentary sequence where it is believed potential source rocks are likely to be present.

It is expected that the survey will commence towards the end of June/early July and take approximately 2 weeks to complete.

Global Petroleum's technical team is both intrigued and highly encouraged by its recent work which has confirmed the Gemsbok prospect, a structural closure extending over 200 square kms. It is unusual to identify such a large, robust structure at prospective depths which does not rely on stratigraphic trapping.

For further information please visit www.globalpetroleum.com.au or contact:

 
 Global Petroleum Limited 
 Peter Hill, Managing Director          +44 (0) 20 7495 
  & CEO                                  6802 
                                        +61 (0) 7 3310 
 Damien Cronin, Company Secretary        8732 
 Cantor Fitzgerald Europe (Nominated 
  Adviser & Joint Broker) 
                                        +44 (0) 20 7894 
 Sarah Wharry / Craig Francis            7000 
 GMP FirstEnergy Capital LLP (Joint 
  Broker) 
                                        +44 (0) 20 7448 
 Hugh Sanderson                          0200 
 Tavistock (Financial PR & IR) 
                                        +44 (0) 20 7920 
 Simon Hudson / Niall Walsh              3150

This information is provided by RNS

The company news service from the London Stock Exchange

END

UPDLLFIEREIDIID

(END) Dow Jones Newswires

June 08, 2017 02:00 ET (06:00 GMT)

Global Petroleum (LSE:GBP)
Historical Stock Chart
From Mar 2024 to May 2024 Click Here for more Global Petroleum Charts.
Global Petroleum (LSE:GBP)
Historical Stock Chart
From May 2023 to May 2024 Click Here for more Global Petroleum Charts.