Company Global Petroleum Limited Australian S.E.

Global Petroleum Limited is an Australia-based holding company, which is engaged in oil and gas exploration and development. The Company’s principal asset is an exploration block located offshore Namibia. The Company holds approximately 78% participating interest in Petroleum Exploration License (PEL) 0094, which covers Block 2011A in the Walvis Basin, offshore north-west Namibia. This License covers an area of approximately 5,798 square kilometers in water depths ranging from 450 meters to 1,550 meters. The Company’s wholly owned subsidiaries include Global Petroleum Exploration Limited, and Global Petroleum Namibia Limited.