Introduction

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Company Overview

Global Petroleum Limited (‘Global’ or ‘the Company’) is the holding company of a group of companies (‘the Group’) which is incorporated in Australia.

Through the acquisition of Jupiter Petroleum in August 2011, Global secured a portfolio of interests in under-explored blocks in highly prospective offshore basins in Sub-Saharan Africa.

The Group’s Namibian Project consists of a 78% participating interest in Petroleum Exploration Licence No.0094 which covers offshore block 2011A.

The offshore waters of West Africa have seen a significant increase in exploration activity in recent years. Interest in Namibia has increased following the discovery of a series of world class oil fields in the offshore waters of the Santos Basin in Brazil. This area was joined to Angola and Namibia before the opening of the South Atlantic Ocean.

In August 2013, Global submitted an application and proposed work programme and budget to the Italian Ministry of Economic Development for four exploration areas offshore Italy.  The Permit applications were then published on 30 September 2013 in the Official Bulletin allowing other competitive bids to be made over the subsequent three months. No such bids were received so the Company submitted the relevant documentation at the end of May 2014 in relation to environmental impact.  The precise timetable for final award of the four Permits is dependent upon a satisfactory outcome to this process which is continuing, and upon subsequent formalities in accordance with Italian legislation.

Global has an experienced and driven management and technical team both in Australia and London. In November 2023, this was strengthened by the appointment of Daniel Page as UK based Executive Chairman. The team has extensive experience of business development, mergers and acquisitions and a strong track record of participation in discoveries and successful developments.

Strategy and Vision

Mission Statement

Global’s vision is to use its extensive technical and commercial expertise to become a highly profitable exploration and production company focused on Africa and the Mediterranean, and potentially other frontier basins worldwide.

Strategy

The Company’s strategy is to maximise its gearing to exploration success in order to enhance shareholder value. This will be achieved through the acquisition of early licence positions in frontier exploration areas in Africa either directly through licensing rounds, joint venture arrangements or acquisition.

Whilst the geographic focus is Africa and the Mediterranean, the Company will also consider other frontier areas that it considers to be highly prospective.

Summary of Business Model:

The Company has committed to:

  • Explore early stage exploration projects in frontier basins with the aim of identifying new hydrocarbon provinces
  • Maintain a geographical focus on Africa and the Mediterranean whilst remaining open to opportunities elsewhere
  • Hold a diversified portfolio of projects (a mixture of operatorships and partnerships) in order to minimise risk whilst maximising value to shareholders
  • Undertake cost-effective and focused exploration by maximising data quality through the acquisition of the latest seismic and processing techniques
  • Actively seek new acquisition opportunities to broaden the portfolio, increasing value and spreading risk
  • Conduct operations in a safe and environmentally responsible manner to the highest industry standards
  • Respect the indigenous culture and offer employment opportunities to those who live near the project areas

Group Structure