Business
Update on Kenya Project
Update on Kenya Project.
About this update from Geo Exploration Limited
[{"type":"text","content":"\n RNS Number : 2843V Global Petroleum Ltd 28 May 2008 \n \n\n\n\n\nABN 68 064 120 896\n\n28 May 2008\n\nUPDATE ON KENYA PROJECT\n\nGlobal Petroleum Limited ('the Company') advises that after seeking legal advice, notice has been given to Woodside Energy (Kenya) Pty Limited ('Woodside') terminating the Farm-In Agreement ('FIA') relating to certain interests in the Lamu Basin, offshore Kenya.\n\nThe termination notice has been given based on Woodside's refusal to drill a second exploratory well in the project area in accordance with the FIA and its failure to take any steps to remedy this refusal, which the Company considers to be a repudiation and breach of the FIA.\n\nThe Company and joint venture partner Dana Petroleum (E&P) Limited have advised Woodside that they intend to issue legal proceedings to recover losses suffered as a result.\n\nFurther announcements will be made by the Company as appropriate.\n\n\n\n\nEnquiries:\n\n\n\n\n\n\nGlobal Petroleum Limited\n\n\nTel\n\n\n+1 505 344 2822\n\n\n\n\nMark Savage, Chairman\n\n\nFax\n\n\n+1505 344 2922\n\n\n\n\n \n\n\nEmail\n\n\[email protected]\n\n\n\n\n \n\n\n \n\n\n \n\n\n\n\nBlue Oar Securities Plc (Nominated Adviser and Broker)\n\n\nTel\n\n\n020 7418 4400\n\n\n\n\nRhod Cruwys/Jerry Keen\n\n\n \n\n\n \n\n\n\n\n\nThis information is provided by RNSThe company news service from the London Stock Exchange END MSCSELSUWSASEII \n ","length":9998,"tagName":"div"}]