Slide 1
Presentation to Shareholders
Annual General Meeting
Brisbane, 27 November 2014
Contents
1.Revised strategy
2.Namibia
3.Juan de Nova
4.Italy - Southern Adriatic
2
Global Petroleum - Summary
• AIM and ASX listed,
• Well funded - Cash ~ US$ 15 million
• Experienced management team and Board
• Assets offshore Namibia, Juan de Nova in Mozambique Channel
• Application in Adriatic offshore Italy proceeding
• Seeking to grow in line with revised strategy
- Board will be highly selective as to opportunities
3
E&P - Market Overview
• Oil prices down by ~30%
• Little exploration success worldwide in frontier basins
• Farmout success rate low in Africa and generally
• Very little access to capital for frontier exploration
• Therefore International Oil Companies cutting back on exploration
4
Relative Share Price Performance
140%
120%
100%
80%
60%
40%
20%
Global Petroleum & UK Large Cap. O&G Companies
Tullow Ophir Afren Africa Oil Global
140%
120%
100%
80%
60%
40%
20%
Global Petroleum & Junior O&G Indices
Global ASX African O&G Index AIM O&G Index
5
Namibia
1708
CJ CoaatUne
j--..._ j laobath
D Etoaha NatlonalParte
Production Licence
- Gazprom/ Tullow/ hochu/ NAMCOR
Exploration Licence
NAMCOR
- NAMCOR
D HRT Oli& Gu/ UNX
CJHRTOii&Gas
11 Maureln Prom/ PGS/
L..._l NAMCOR
Arcadlo Expro Nernlblal
Repsol
11 Pancontlnental Ofl
L-.1 &GuNL
I HRT Oli & Gaa/ llbrta
L..._l Petroleum
Prevlew Energy/ NAMCOR
Frontler Rtsources/
NAMCOR
r-1 Hydrocarb/ ATAJ
l.-.JNAMCOR
Alp/lapetro
r-1 Oranto Petroleuml
"-----...J NAMCOR
r--1SIGNET Petroleum/
L-.JNAMCOR
r--,Serlea Energy
L-.JNAMCOR
Cowan Petto4eo e Gas/
NAMCOR AMIS Energy/
- PJMinlng/ NAMCOR Grlaham/ NAMCOR/ Luury/ Mlble Energy
r-1 PetroteiAfrfean lntl
- Enògma Oli& GaaJ Petrob-111 L J NAMCOR
-
- Untmag Trtdlng/ NAMCOR Ragalla Pe11Tu1kumua
Mlnlng/ NAMCOR -
Grlaham/ Southem 011
Gas/ NAMCOR Koyuco/lunganda/
NAMCOR
Nautical moles - -
KoiOmeters
DRiGhterveld Mlning DOranto Petroleum
Coal Bed Methane Llcence
ECOOii& Gaa
- CSGEnorgy
6
Source: Ministry of Mines and Energy, Namibia
Namibia
• Blocks 1910B and 2010A, 85% participating interest
• 11,700 sq km, 1200-3000 metres water depth
• Work obligations fulfilled in mid 2012 (2D seismic)
• First phase of licence expires December 2014
- Extended to December 2015
• Significant prospects identified
• Attempt to farm out H1 2014
• Farmout affected by:
- Drilling failure in Namibia, particularly Welwitschia - 1a
- Cooling sentiment of IOCS regarding frontier exploration.
7
Juan de Nova Est
• Application for renewal submitted in
August 2013
• Global 100% and Operator
• Right of Wessex Exploration to back-in for
50% post renewal, subject to conditions
• Renewal decision expected in 1H 2015
8
Italy - Southern Adriatic
• 4 Exploration licences applied for in September 2013
• Formalities with Italian authorities ongoing
• Award expected in 2015
9
Global Petroleum - Revised strategy
• Challenging market conditions
- Oil prices down by ~30%
- Little exploration success worldwide in frontier basins
- Farmout success rate low
- Very little access to capital for frontier exploration
- Therefore IOCS cutting back on exploration
• Consequently Global has refocused its strategy, targeting:
- Contingent resources - discoveries - with near-term production potential
- Lower risk exploration in proven hydrocarbon basins
• Significant upside still available via existing exploration portfolio
10
GLOBAL
....., PETROLEUM
LIMITED