Global Petroleum : Namibia 2D Seismic Survey Update

12 July 2017

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 ('MAR). Upon the publication of this announcement via a Regulatory Information Service ('RIS'), this inside information is now considered to be in the public domain.

("Global" or "the Company")

Global Petroleum (AIM: GBP, ASX: GBP) announces the completion of the 2D seismic acquisition programme previously announced, in the Company's operated block (PEL 0029) in Namibia. The survey - comprising 834 km of full fold 2D seismic data - was carried out by Seabird Exploration of Norway, and shooting took only 10 days, completing on 3rd July 2017. The total cost of the acquisition is approximately US$740,000, excluding processing.

Processing of the acquired data is about to commence and is expected to be finalised around the end of September 2017. Initial examination of the high quality raw data confirms the extremely large extent of the Gemsbok prospect in the south east of the block. Following processing and interpretation of the data the Company will determine its plans for the next phase of exploration.

Map of Namibia showing Global Licence.

Global's Licence PEL 0029, in which the Company hold an 85% interest and operatorship, covers Offshore Blocks 1910B and 2010A in the Republic of Namibia. The Gemsbok prospect is located at a total depth of around 3,000 metres - in water depths of approximately 1,400 metres.

For further information please visit www.globalpetroleum.com.au or contact:

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