AFRICA INDEPENDENTS FORUM

GLOBAL PETROLEUM LIMITED

Global Petroleum - a snapshot

• Global Petroleum Limited is an Australian- registered public company quoted on the AIM market of the London Stock Exchange

• The management team is based in London

• 4 successful capital raises totalling £4.2 million (c.US$5.5 million) in last 2 years to progress the PEL94 exploration licence & for working capital

• Active since 2010 in Namibia

• Global also has exploration permit applications in the Italian Adriatic Sea

2

Oil and Gas in Namibia

  • Stable jurisdiction, excellent fiscal terms
  • Offshore there are significant players: Shell, TotalEnergies, ExxonMobil, GALP, Maurel & Prom
  • To the north of Global's licence, ExxonMobil has a large licence position, similar in area to its Starbroek block in Guyana
  • Discoveries of Venus & Graff have now proven a new petroleum province in Namibia underpinned by the Kudu Shale source rock, which extends to Global's PEL 94 licence
  • Companies are now manoeuvring to access acreage where there are good prospects charged from areas where this source rock has expelled oil

3

Venus Discovery

• Multi-billion barrel discovery, being appraised in Q4 2022

• Sourced from the Aptian-

Barremian Kudu Shale

• Amplitude and AVO conformance to structure

• Has dip closure to south-east towards sand entry point

• In Global's licence, the Marula

prospect similarly has dip closure towards sand input direction, unlike many previous deep water wells in Namibia which relied on stratigraphic

trapping in this direction

4

Graff Discovery

Santonian secondary

target discovery?

Up-dip seal against frontal toe-thrust?

Cenomanian primary

Kudu Shale source kitchen for target discovery? both Graff and Venus

  • Graff (+ La Rona): c.1 billion BBOE light oil in two Upper Cretaceous deep water sandstones
  • 3 more wells late 2022
  • Truncated to SE against frontal thrust and stratigraphically trapped to north
  • Regional migration focus from the Kudu Shale source rock - same source as all the prospects and leads in

Global's licence

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Global Petroleum Limited published this content on 10 October 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 10 October 2022 07:31:01 UTC.