16 September 2024
The information contained within this announcement is deemed
by the Company to constitute inside information under UK Market
Abuse Regulations. 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")
Additional 10% Ownership
Acquired for Exploration Licence 08/3497 Juno in Western
Australia
Global Petroleum Limited (LSE
AIM:GBP) is pleased to announce it has exercised its option to
acquire an additional 10% stake from Mr Callum Baxter in
Exploration Licence 08/3497 ("the Licence") in Western Australia.
As per the Sale and Joint Venture Agreement announced to the market
on 14 August 2024, this has entailed a payment of £50,000 to Mr
Baxter.
Exercising the option has increased
Global's stake in the Licence from 70% to 80%. Global has exercised
this option due to the strong magnetic feature and coincident
gravity signature at Juno which shows similarities to the Havieron
discovery.
Global is excited to commence the
work program alongside Mr Baxter this quarter, who retains the
remaining 20% interest in the Licence
Mr
Baxter, Global's joint venture partner,
commented:
"It is pleasing to see Global Petroleum's commitment to the
Juno project and our cooperation will see exploration activities
commencing in the current quarter. Juno exhibits striking
geophysical similarities to the Havieron discovery, and I am very
excited to have the opportunity to apply our mineral exploration
knowledge to this compelling 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 31
Simon Hudson / Nick Elwes