Company Update

GEO Exploration

16/07/2024 07:00

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RNS Number : 5587W  Global Petroleum Ltd  16 July 2024

16 July 2024

Global Petroleum Limited

("Global" or "the Company")

Company Update

 

Global Petroleum Limited (AIM: GBP) is pleased to announce that, following
entry into the First Renewal Period that it has increased the bank guarantee
facility in accordance with the Petroleum Agreement for PEL 94.

 

The Company also wishes to advise that it has entered into a short-term Loan
Agreement for USD270,000 with a major shareholder of the Company for provision
of general working capital requirements, including providing cash collateral
for the bank guarantee.  The loan is interest free and is repayable on 30
September 2024 unless mutually agreed to extend beyond the repayment date.

 

 

 

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 Limited (Nominated Adviser)           +44 (0) 20 3368 3555
 Andrew Emmott

 CMC Markets (Broker)                                          +44 (0) 20 7170 8200

 Tom Curran/Thomas Smith

 SI Capital Limited                                            +44 (0) 148 341 3500
 Nick Emerson/Nick Briers

 Tavistock (Financial PR & IR)                                 +44 (0) 20 7920 3150

 Simon Hudson / Nick Elwes

 

This announcement has been issued by and is the sole responsibility of the
Company.

 

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