Seabird Exploration: Global Petroleum Quarterly Report

Global Petroleum Limited – JUNE 2017 QUARTERLY REPORT

The Board of Global Petroleum Limited (“Global” or “Company”) presents its Quarterly Report for the period ending 30 June 2017.

Summary: The Company’s Petroleum Exploration Licence covering two Blocks, 1910B and 2010A in the Walvis Basin offshore Namibia, was extended in December 2015 into Phase 2, which is for a duration of 24 months with a reduced Minimum Work Programme.  In place of the previous well commitment in Phase 2, the Company undertook to reprocess and re-interpret previously acquired 2D seismic data, and to shoot 800 kilometres of new 2D data. Following the reprocessing and evaluation of the historic 2D data, the Company announced during the reporting period that it had entered into a contract with Seabird Exploration of Norway in order to acquire 834 km of full fold 2D seismic data over its Blocks.  The seismic survey was duly carried out, and successfully completed post the end of the reporting period.

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