Projects Overview

Global Petroleum Limited is an oil and gas exploration and development company with current interests in offshore Namibia, offshore Juan de Nova (a French dependency in the Mozambique Channel) McMullen County, Texas, USA, and in Uganda.

The Namibian Project consists of an 85% participating interest in Petroleum Exploration Licence No. 0029 covering Offshore Blocks 1910B and 2010A in the Republic of Namibia.  These blocks cover an area of about 11,730 square kilometers in water depths ranging from 1,200 meters to 3,000 meters.

A reconnaissance grid of 1995 2D seismic data over both blocks is available and preliminary examination suggests the presence of large structural highs and the presence of a significant Early Cretaceous and possibly older section beneath the main highs. The blocks lie adjacent to acreage held by Arcadia Petroleum Limited, whose partner Tower Resources plc recently announced encouraging estimates for finding hydrocarbons in one of their prospects, and to the south west of blocks held by Chariot Oil and Gas who have recently announced substantial prospective resources in Namibia.

Wells drilled in the area have established the presence of oil and gas-prone source rocks, good potential reservoirs and migrated hydrocarbons in the region, making this an attractive frontier play.

The Juan de Nova Project consists of a 30% interest in the Juan de Nova Est Permit which was issued by the French Government in December 2008.  The permit covers approximately 9,010 square kilometers and is situated to the east of the small island of Juan de Nova in the Mozambique Channel, immediately to the west of Madagascar and about 100 kilometres north west of the large heavy oil deposits of Tsimiroro and Bemolonga.

The Leighton Project in McMullen County, Texas, comprises of a current interest in 11 producing wells, 9 in the Olmos reservoir and 2 horizontal wells in the exciting Eagle Ford shale.

In Uganda, Global has an ongoing option to participate in the Licence EA5.

The Board continues to review opportunities for other acquisitions, joint ventures, or investments in the resources sector, with a focus on Africa, which may enhance shareholder value.