Global Petroleum Ltd
01 November 2006
1 November 2006
Global Petroleum Ltd
DRILLING RIG MOBILIZING TO KENYA
Global advises that on 1st November, Woodside, as operator of the Company's
Kenya Joint Venture, took assignment of the rig which will drill the Joint
Venture's two Kenya wells. It is expected that the rig will take some four
weeks to mobilize to Kenya so that the drilling operations should commence
towards the end of November.
The first well will be Pomboo No. 1 in Block L-5. Pomboo has a proposed total
depth of approximately 5,000 metres below sea level. The second well will be on
the Sokwe prospect in Block L-7.
Woodside 30% (and operator);
Dana 30% *
Repsol 20% *
Global 20%
The costs associated with Global's 20% in L5 and L7 are carried for all
activities through the drilling of the first well in each of these areas.
For further information, refer also to Global's releases dated 16/3/06, 4/5/06,
24/8/06 and 29/9/06 and Global's website: www.globalpetroleum.com.au
* Footnote
Another transaction is pending which, subject to the necessary permissions, will
result in the transfer of a 3% interest in L-5 and L-7 from Dana to Repsol,
resulting in Repsol having a 23% interest in L-5 and L-7 and Dana a 27%
interest.
Further information
Global Petroleum Ltd
John Armstrong, Executive Chairman Tel: (07) 3211 1122
Bell Pottinger Corporate & Financial
Nick Lambert Tel : +44 (0) 20 7861 3232
This information is provided by RNS
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