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 |
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| SPARK Advisory Partners Limited (Nominated Adviser) | +44 (0) 20 3368 3555 |
| Andrew Emmott
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| CMC Markets (Broker) Tom Curran/Thomas Smith | +44 (0) 20 7170 8200 |
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| SI Capital Limited | +44 (0) 148 341 3500 |
| Nick Emerson/Nick Briers |
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| Tavistock (Financial PR & IR) Simon Hudson / Nick Elwes | +44 (0) 20 7920 3150 |
This announcement has been issued by and is the sole responsibility of the Company.
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