7 October 2024
The information contained within
this announcement is deemed by the Company to constitute inside
information under the UK Market Abuse Regulations ("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")
Commencement of Airborne Geophysical Survey and Site
Visit
Global Petroleum Limited (LSE
AIM:GBP) is pleased to announce that an Airborne Geophysical Survey
has commenced at Project Juno ("Juno"). This survey represents a
significant advancement in the Company's exploration strategy, aimed at acquiring high-resolution
geophysical data to enhance the understanding of the subsurface
geology. The information gathered will allow Global and Callum
Baxter to identify specific areas for further activities, such as
drilling.
As of 6 October 2024 the Survey is
46% complete with more than 1,800 total line km's flown. Global
expects results of the Geophysical Survey to be available in the
current quarter.
Omar Ahmad, CEO of Global Petroleum
commented:
"We are pleased to be making swift
progress, working alongside Callum Baxter and the team to advance
Project Juno. The Airborne Geophysical Survey is critical to
accurately identify targets and will be delivered in a safe, cost
effective and efficient manner.
"The work to date on the Juno
Project and going forward presents an exciting new era for the
Company alongside our positive ongoing farm-in discussions with our
commercial partner for our Namibian PEL 94 Licence. I certainly see
significant potential shareholder value from both projects and look
forward to providing regular updates as each
progresses."
Site Visit
Juno operator Callum Baxter also
recently conducted a site visit to the Juno tenure where he was
able to assess access to the Juno site and
hold talks with the local pastoralist.
Callum Baxter, Project Juno Joint Venture Partner
commented:
"I
am pleased we are moving fast and have successfully and safely
completed our initial field visit to the Juno area. From this visit
we determined that access into the initial area of interest is
good, via historical tracks. Our meeting with the local pastoralist
was very positive, and he is very supportive of our proposed
exploration activities.
It
is very exciting to have commenced a detailed aeromagnetic survey
at Juno and I look forward to receiving results shortly. Additional
exploration activities are in the planning phase and will be
announced in the coming weeks."
Pictures of the site visit can be
seen below and further media will be made available on the Global
Petroleum website - www.globalpetroleum.com.au
Figure 1 - Typical flat topography
and sparse vegetation at the Juno project
Figure 2 - Historic shallow
drillhole in the north of the Juno project
Figure 3 - Sparse vegetation and
open area in the north of the Juno project
For further information please
visit: www.globalpetroleum.com.au
or contact:
Global Petroleum Limited
+61 3 8611 5333
Andrew Draffin, Company Secretary
and Non-Executive Director
SPARK Advisory Partners (Nominated
Adviser)
+44 (0) 20 3368 3555
Andrew Emmott
CMC Markets (Joint Broker)
+44 (0) 20 3003 8632
Douglas
Crippen
SI Capital
Limited
+44 (0) 14 8341 3500
Nick Emerson
Tavistock (Financial PR &
IR)
+44 (0) 20 7920 3150
Simon Hudson / Nick
Elwes