Global Petroleum Ltd Namibia 2D Seismic Survey Update (7712K)
12 July 2017 - 4:00PM
UK Regulatory
TIDMGBP
RNS Number : 7712K
Global Petroleum Ltd
12 July 2017
12 July 2017
The information contained within this announcement is deemed by
the Company to constitute inside information as stipulated under
the Market Abuse Regulations (EU) No. 596/2014 ('MAR). Upon the
publication of this announcement via a Regulatory Information
Service ('RIS'), this inside information is now considered to be in
the public domain.
Global Petroleum Limited
("Global" or "the Company")
Namibia 2D seismic survey
Completion of data acquisition
Global Petroleum (AIM: GBP, ASX: GBP) announces the completion
of the 2D seismic acquisition programme previously announced, in
the Company's operated block (PEL 0029) in Namibia. The survey -
comprising 834 km of full fold 2D seismic data - was carried out by
Seabird Exploration of Norway, and shooting took only 10 days,
completing on 3 July 2017. The total cost of the acquisition is
approximately US$740,000, excluding processing.
Processing of the acquired data is about to commence and is
expected to be finalised around the end of September 2017. Initial
examination of the high quality raw data confirms the extremely
large extent of the Gemsbok prospect in the south east of the
block. Following processing and interpretation of the data the
Company will determine its plans for the next phase of
exploration.
http://www.rns-pdf.londonstockexchange.com/rns/7712K_-2017-7-11.pdf
Global's Licence PEL 0029, in which the Company hold an 85%
interest and operatorship, covers Offshore Blocks 1910B and 2010A
in the Republic of Namibia. The Gemsbok prospect is located at a
total depth of around 3,000 metres - in water depths of
approximately 1,400 metres.
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
-ends-
This information is provided by RNS
The company news service from the London Stock Exchange
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