8th Jan 2025 12:31
(Alliance News) - Global Petroleum Ltd on Wednesday said it has received the final delivery of airborne light detection and ranging, also referred to as LiDAR, data for its Juno project in Western Australia, marking a "significant milestone" in its exploration programme.
The Africa and Mediterranean-focused oil and gas company said the data, processed and imaged by its LiDAR contractor, includes high-resolution digital terrain models with spatial accuracy of less than 20 centimetres. Global Petroleum said that these detailed three-dimensional topographic maps and ground imagery will be used alongside aeromagnetic and gravity data to identify drill targets for initial exploration at the Juno project.
"LiDAR enables detailed spatial modelling of geophysical data sets and supports exploration activities and logistics. It is a vital tool for modern, efficient exploration programmes," said Callum Baxter, Global's joint venture partner. "It is a vital tool for modern, efficient exploration programmes."
The company said processing of detailed ground gravity data for the project is ongoing, with final data expected "shortly." The combined datasets will refine drill target selection for what Global Petroleum described as a high-impact exploration initiative.
Chief Executive Officer Omar Ahmad said: "We are excited about the rapid progression of the Juno Project, particularly with the final delivery of LiDAR data, which marks a significant milestone in our exploration strategy. Fully capitalised for Juno Project, we are now accelerating our work programme. Alongside our world-class joint venture partner, Callum Baxter, we are committed to leveraging innovative technology and his expert insights to define high-impact drill targets
"As a board, we remain resolutely focused on advancing all our projects, guided by the best interests of our shareholders, who are the driving force behind our strategic decisions and long-term vision for growth."
Shares in Global Petroleum were down 10% at 0.20 pence each in London on Wednesday afternoon.
By Eva Castanedo, Alliance News reporter
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