Appendix 5B - Mining exploration entity quarterly report Appendix 5B Mining exploration entity quarterly report Appendix 5B Mining exploration entity quarterly report

Introduced 01/07/96 Origin Appendix 8 Amended 01/07/97, 01/07/98, 30/09/01, 01/06/10, 17/12/10

Name of entity

GLOBAL PETROLEUM LIMITED

Rule 5.3

ABN Quarter ended ("current quarter")



68 064 120 896 30 September 2014

Consolidated statement of cash flows

Cash flows related to operating activities

Current quarter

$US'000

Year to date

$US'000

1.1

Receipts from product sales and related

debtors

-

-

1.2

Payments for (a) exploration & evaluation

(b) development

(c) production

(d) administration

(304)

(648)

(304)

(648)

1.3

Dividends received

1.4

Interest and other items of a similar nature

received

18

18

1.5

Interest and other costs of finance paid

1.6

Income taxes paid

1.7

Other - cash used in discontinued

operations

Net Operating Cash Flows

(934)

(934)

Cash flows related to investing activities

1.8

Payment for purchases of: (a) prospects

(b) equity investments

(c) other fixed assets

1.9

Proceeds from sale of: (a) prospects

(b) equity investments

(c) other fixed assets

1.10

Loans from other entities

1.11

Loans repaid by other entities

1.12

Other (provide details if material)

- Cash from discontinued activities

Net investing cash flows

-

-

1.13

Total operating and investing cash flows

(carried forward)

(934)

(934)

+ See chapter 19 for defined terms.

17/12/2010 Appendix 5B Page 1

Appendix 5B Mining exploration entity quarterly report

1.13

Total operating and investing cash flows

(brought forward)

(934)

(934)

Cash flows related to financing activities

1.14

Proceeds from issues of shares, options, etc.

1.15

Proceeds from sale of forfeited shares

1.16

Proceeds from borrowings

1.17

Repayment of borrowings

1.18

Dividends paid

1.19

Other - short term loan from related party

-

Net financing cash flows

-

Net increase (decrease) in cash held

(934)

(934)

1.20

Cash at beginning of quarter/year to date

16,609

16,609

1.21

Exchange rate adjustments to item 1.20

(311)

(311)

1.22

Cash at end of quarter

15,364

15,364

Payments to directors of the entity and associates of the directors Payments to related entities of the entity and associates of the related entities

Current quarter

$US'000

1.23 Aggregate amount of payments to the parties included in item 1.2 260

1.24 Aggregate amount of loans to the parties included in item 1.10

1.25 Explanation necessary for an understanding of the transactions

Payment of directors fees, salary and superannuation, consulting fees and provision of serviced office.

Non-cash financing and investing activities

2.1 Details of financing and investing transactions which have had a material effect on consolidated assets and liabilities but did not involve cash flows


2.2 Details of outlays made by other entities to establish or increase their share in projects in which the reporting entity has an interest

Financing facilities available

Add notes as necessary for an understanding of the position.

Amount available

$US'000

Amount used

$US'000

+ See chapter 19 for defined terms.

Appendix 5B Page 2 17/12/2010

3.1 Loan facilities

Appendix 5B Mining exploration entity quarterly report

3.2 Credit standby arrangements

Estimated cash outflows for next quarter

4.1 Exploration and evaluation

4.2 Development

4.3 Production

4.4 Administration

Reconciliation of cash

Reconciliation of cash at the end of the quarter (as shown in the consolidated statement of cash flows) to the related items in the accounts is as follows.

Current quarter

$US'000

Previous quarter

$US'000

5.1

Cash on hand and at bank

11,120

11,500

5.2

Deposits at call

4,244

5,109

5.3

Bank overdraft

5.4

Other (provide details)

Total: cash at end of quarter (item 1.22)

15,364

16,609

Changes in interests in mining tenements

6.1 Interests in mining tenements relinquished, reduced or lapsed

6.2 Interests in mining tenements acquired or increased

+ See chapter 19 for defined terms.

17/12/2010 Appendix 5B Page 3

Appendix 5B Mining exploration entity quarterly report Issued and quoted securities at end of current quarter

Description includes rate of interest and any redemption or conversion rights together with prices and dates.

7.7 Options (description and conversion factor)

7.8 Issued during quarter

7.9 Exercised during quarter

+ See chapter 19 for defined terms.

Appendix 5B Page 4 17/12/2010

7.10 Expired during quarter

Appendix 5B Mining exploration entity quarterly report

7.12 Unsecured notes (totals only)

Compliance statement

1 This statement has been prepared under accounting policies which comply with accounting standards as defined in the Corporations Act or other standards acceptable to ASX (see note 5).
2 This statement does /does not* (delete one) give a true and fair view of the matters disclosed.
Sign here: Date: 31 October 2014 (Director/Company Secretary)
Print name: Damien Cronin

Notes

1 The quarterly report provides a basis for informing the market how the entity's activities have been financed for the past quarter and the effect on its cash position. An entity wanting to disclose additional information is encouraged to do so, in a note or notes attached to this report.
2 The "Nature of interest" (items 6.1 and 6.2) includes options in respect of interests in mining tenements acquired, exercised or lapsed during the reporting period. If the entity is involved in a joint venture agreement and there are conditions precedent which will change its percentage interest in a mining tenement, it should disclose the change of percentage interest and conditions precedent in the list required for items 6.1 and 6.2.
3 Issued and quoted securities. The issue price and amount paid up is not required in items 7.1 and 7.3 for fully paid securities.
4 The definitions in, and provisions of, AASB 6: Exploration for and Evaluation of

Mineral Resources and AASB 107: Statement of Cash Flows apply to this report.

5 Accounting Standards ASX will accept, for example, the use of International
Financial Reporting Standards for foreign entities. If the standards used do not

+ See chapter 19 for defined terms.

17/12/2010 Appendix 5B Page 5

AppendixsB

Mining exploration entity quarterly report

address a topic, the Australian standard on that topic (if any) must be complied with.


+ See chapter 19 for defined terms. Appendix 5B Page 6

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