Global Petroleum Ltd Partnership Agreement
January 26 2024 - 1:00AM
RNS Regulatory News
RNS Number : 9799A
Global Petroleum Ltd
26 January 2024
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.
26
January 2024
Global Petroleum
Limited
("Global"
or "the Company")
Partnership
Agreement
Global Petroleum Limited (LSE AIM:
GBP) ("Global" or "the Company"), an oil and gas upstream
exploration company presently focused on Africa and the
Mediterranean, announces that the Company has entered into a
Partnership Agreement ("PA") with Cynergy
East Med LLC ("Cynergy"). Under the
terms of the PA Cynergy and Global will look to explore energy
opportunities in the East Mediterranean.
In the current market landscape,
characterised by unique dynamics and geopolitical shifts, Cynergy
has a market position that combined with Global allows the
partnership to explore unique and high value opportunities in the
Eastern Mediterranean in 2024. The PA will enable both parties to
mutually beneficially assess this as well as other opportunities in
the prolific Eastern Mediterranean.
The agreement follows the
appointment of a new Executive Board, led by Daniel Page and
Cecilia Yu, focused on delivering shareholder value.
Further announcements will be made
as and when appropriate.
Daniel Page, Executive Chairman of Global Petroleum
commented:
"On appointment we said that we would aim to
maximise shareholder value and deliver a pathway to profitability.
I am excited by the opportunity with Cynergy to evaluate the
prolific Eastern Mediterranean basin. We believe that this
partnership has the potential to assess some very exciting assets
and I look forward to updating shareholders on progress in
due course."
Mike Germanos, Founder and CEO of Cynergy East Med LLC,
Said
"The Cynergy team and I are
thrilled to announce our partnership with Global Petroleum. We look
forward to evaluating opportunities and seeking to unlock the
substantial financial and strategic value in the East Med energy
value chain."
For
further information please visit: www.globalpetroleum.com.au or
contact:
|
Global Petroleum Limited
|
+44 (0) 20 3 875 9255
|
|
Andrew Draffin, Company Secretary
and non-Executive Director
|
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|
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|
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Panmure Gordon (UK) Limited (Nominated Adviser & Joint
Broker)
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+44 (0) 20 7886 2500
|
|
James Sinclair-Ford / Freddie
Twist
Corporate Broking: Hugh
Rich
|
|
|
|
|
|
CMC
Markets (Joint Broker)
Tom Curran / Thomas Smith
|
+44 (0) 20 7170 8200
|
|
|
|
|
SI
Capital Limited
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+44 (0) 148 341 3500
|
|
Nick Emerson / Nick
Briers
|
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Tavistock (Financial PR & IR)
Simon Hudson / Nick Elwes
|
+44 (0) 20 7920 3150
|
-ends-
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