3rd Nov 2006 08:06
Global Petroleum Ltd03 November 2006 3 November 2006 Global Petroleum Limited OFFSHORE SEISMIC PROGRAM FOR MALTA Global Petroleum Limited advises that RWE, as operator of the Company's Maltaproject, has contracted Fugro to acquire 700km of 2D seismic over prospects inBlocks 4 and 5 of Area 3, offshore Malta. The seismic survey is scheduled tobegin in November and is expected to last for two weeks. It will be undertakenusing the seismic vessel "Geo Atlantic". Magnetic and gravimetric data will alsobe acquired during the survey. RWE Dea AG, who has farmed into Global's interest in the Exploration StudyAgreement covering Blocks 4 and 5, has the right to earn up to a total 70%interest if the parties enter into a PSC with the Malta Government and RWEcommits to the drilling of a well following the completion of the seismicprogram. Current interests in Blocks 4 & 5 are: * Global Petroleum Limited 80%* RWE Dea AG 20% If RWE proceeds to the drilling of a well, the costs associated with Global'sequity in Blocks 4 & 5 will be carried by RWE for all activities through thedrilling of the well. For further information, refer also to Global's release dated 23 June 2006 andGlobal's website: www.globalpetroleum.com.au Enquiries Global Petroleum LimitedDr John Armstrong, Executive Chairman Tel: (07) 3211 1122 Bell Pottinger Corporate & FinancialNick Lambert Tel: +44 (0) 20 7861 3232 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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