Global Petroleum Provides Blocks 1910B, 2010A & 2011A Update

Regarding its licence PEL0094 (Block 2011A), the Company recently purchased historic 2D
seismic data in order to improve interpretation of its Marula prospect in the western part of
Block 2011A. Separately, Global has also acquired 2D seismic data over the relatively
underexplored eastern part of the block and the Company expects the interpretation of
this data significantly to enhance the prospectivity already identified in this area.
Interpretation of both sets of data is underway, following which the Company will update its
previous Prospective Resources estimate for PEL0094, published on 20 July 2020.
Preparations are also underway for a farmout process which will be launched once the
seismic interpretation is complete.
With respect to the Company’s other Namibian licence, PEL0029 (Blocks 1910B and 2010A),
the licence expired under its terms on 3 December 2020, further extensions not being
permitted under Namibian petroleum exploration law. The Company has completed its
outstanding licence work programme commitments under budget. It is the Company’s
current intention to apply for a new licence in due course.