RNS Number:7745L
Global Petroleum Ltd
03 May 2005

3 May 2005

Global Petroleum Limited ('Global')

ANNOUNCEMENT RE: FALKLAND OIL AND GAS LIMITED

Global Petroleum Limited (AIM / ASX: GBP), an Australian-based oil and gas
exploration company, advises that Falkland Oil and Gas Limited (FOGL) made the
attached release on the 3rd of May 2005.

This announcement suggests that Global's 16.06% shareholding (i.e. 12.848
million shares) in FOGL could potentially have quite significant value for
Global shareholders. A FOGL share price of #1/share translates to approximately
19c per Global share (GBP 8p/Global share).

Further information about FOGL's Falkland Island Oil & Gas Project can be found
in a presentation that FOGL has posted on its website www.fogl.co.uk

Further information:

Global Petroleum Limited
Dr John Armstrong, Executive Chairman +61 (0) 7 3211 1122

Bell Pottinger Corporate & Financial
Nick Lambert +44 (0) 7811 358 764

Tuesday 3rd May 2005

Falkland Oil and Gas Limited

("FOGL" or "the company")

Significant increase in number of identified leads

Enhanced possibility of a new petroleum province
in the South and East Falkland Basins

FOGL announces that it has completed its current 9,450 km 2D seismic data
acquisition programme over most of its licence area. The initial interpretation
of the preliminary processed records from the survey has proved encouraging and
greatly exceeds the Company's initial expectations.

The programme has indicated a larger and more diverse project than originally
anticipated and has identified numerous possible drill targets, with indications
that some could potentially be of significant size.

FOGL has now identified approximately 130 leads,(1) far in excess of the eight
(8) leads identified at the time of its AIM IPO in October 2004. Given the
positive results of the survey, FOGL now plans to increase the scope of its
exploration programme far beyond that envisaged at the time of the IPO.

Key points:

* Approximately 130 leads identified, a number of which appear capable of
containing recoverable reserves in excess of 200 million barrels

* FOGL now represents a larger and more diverse project than originally
anticipated

* Encouraging signs that oil and gas could be present

* Further work is planned targeting defining 20 drillable prospects by
about mid-2006

* FOGL is targeting drilling of the first well in 2007

* Already an enhanced possibility of project success

* Licences cover area equivalent to the North Sea Southern Gas Basin and
Central Graben

* Cash position of #10.9 million as at 31 March 2005. FOGL is evaluating
its funding requirements and the source of funds for the increased exploration
programme

John Armstrong, Executive Chairman of FOGL, said:

"In my opinion, this is the most exciting project I've seen for many years. The
results of the 2D seismic are encouraging; the number of leads identified has
far exceeded our most optimistic estimates and we believe it has greatly
enhanced FOGL's prospects. It is clear that the scope of work needed to maximise
the potential of our acreages has increased significantly.

"It is important to remember that, while the leads identified to date each have
seismic expression which indicates the possible presence of a drillable
prospect, when fully mapped, and with the benefit of further data, such leads
may not have all the characteristics necessary to become drillable prospects.
Nevertheless, the large number of leads distributed across several playtypes
suggests that a number of the leads could become technically sound and
potentially economically viable drill prospects. It is the Company's goal to
identify and define 20 such prospects in the immediate future so that they can
be considered for drilling in 2007.

"We have made a lot of progress in the six months since our AIM IPO and the
results to date have been remarkable. Although there is a long way to go, it now
seems quite possible that the Falkland Islands could become a new petroleum
province by the end of the decade."

Hydrocarbon Indicators

Initial interpretation of the new data gives considerable cause for optimism.
The preliminary results of the survey identify numerous Direct Hydrocarbon
Indicators (DHI's) pointing to the presence of working petroleum systems. The
DHI's include gas chimneys, amplitudes and possibly gas hydrates. The leads are
large and diverse, with some leads possibly covering areas of 300 to 500 sq km,
sufficient to hold large reserves of oil or gas. There is also a wide range of
play types with several different styles identified.

Exploration Programme & Funding Arrangements

FOGL plans to conduct further seismic surveys targeting all the leads but with
particular emphasis on the approximately 50 most promising. The aim will be to
develop 20 high quality, technically sound and potentially economically viable
drilling prospects. The Company then intends to develop a multi-well drilling
programme which may be able to begin in 2007.

Full details of the exploration programme are still to be finalised but given
the increased number of identified leads the company expects to expand
significantly the scope of the exploration programme.

Although FOGL had net cash of #10.9 million as at 31 March 2005, the increased
scope of the programme will require additional funding and the Board is
currently considering its options. A further statement on the funding
arrangements and the full details of the programme will be announced soon.

Potential Resources

The extent and depth of the basin suggests that, if it exists, the hydrocarbon
resource could be of a major scale. According to estimates by MBA Petroleum
Consultants, an independent consultant, 1,250 billion barrels of oil / oil
equivalent could have been generated in and in the vicinity of FOGL's licences.

Scott Pickford, petroleum engineers, made an independent assessment of the
initial eight (8) leads and concluded that each had the potential to contain
between 200 million and 600 million barrels of recoverable oil(2). It is
expected that Scott Pickford will be contracted to repeat the process and make
an independent judgement on the potential resources indicated by the new data.
Its findings will be announced on completion of the processing and
interpretation which is expected to be in the third quarter of this year.

An overview presentation will be posted on the FOGL website giving a summary of
the results announced here. Technical information including maps and seismic
lines will be posted on the Company's website in the near future.

www.fogl.co.uk

Enquiries:

FOGL

John Armstrong, Executive Chairman + 61 (0) 7 3211 1122 (+9 hrs GMT)
David Hudd, Deputy Chairman 07771 893 267

College Hill
Ben Brewerton 020 7457 2020

(1) a 'lead' is a feature that requires further technical appraisal prior to a
decision to drill

(2) P50 recoverable oil as estimated by Scott Pickford, a consultancy
specialising in geology, petroleum engineering and economic analyses, in 2004
(IPO Prospectus)

NOTES TO EDITORS

Falkland Oil and Gas Limited ("FOGL") is an oil and gas exploration company
focused exclusively on opportunities offshore of the Falkland Islands. It was
admitted to London's Alternative Investment Market ("AIM") on 14 October 2004 at
an issue price of 40p. The current major shareholders of FOGL are: Falkland
Islands Holdings plc (18%), Global Petroleum (16%) and RAB Capital plc (31%).

At the time of the admission to AIM, FOGL held a 77.5% interest in seven
offshore production licences covering approximately 33,700 sq km to the south
and east of the Falkland Islands. FOGL holds these licences in a joint venture
with Hardman Resources. In December 2004, FOGL was awarded a 100% licence over
an additional 50,000 sq kms adjacent to its existing licence areas. The 83,700
sq km area held by FOGL is equivalent to 380 North Sea blocks: as large as the
Southern Gas Basin and the Central Graben combined.

www.fogl.co.uk

This information is provided by RNS
The company news service from the London Stock Exchange

END

Just in case anyone missed the news.........

Global Petroleum Ltd
25 January 2007


25 January 2007
KENYA

Further to Woodside's release of 23 January 2007 regarding the results of the
Pomboo well in Kenya, Global advises that the L7 Joint Venture has decided not
to drill Sockwe South No. 1 in this drilling campaign.

There are numerous prospects and leads in our Kenya Licences L5 and L7. Pomboo
has established the presence of reservoirs and seals although the well lacked
oil and gas shows. It is important that the decision on the next phase of
exploration be determined after a comprehensive technical assessment of the
relevance and implications of the new information obtained from Pomboo. This
work is expected to occur over the next three to six months.

Accordingly, Woodside as operator of the L5 and L7 Joint Venture will discuss
options with the Kenya Government with a view to agreeing the appropriate way
forward for the JV and Government.

The L5 and L7 Joint Venture comprises:

Woodside Energy (Kenya) Pty Ltd 30% (and operator);
Dana Petroleum (E&P) Ltd 30% *
Repsol Exploration S.A. 20% *
Global Petroleum 20%

The costs associated with Globals 20% in L5 and L7 are carried for all
activities through the drilling of the first well in each of these areas.

For further information, refer to Globals website:
www.globalpetroleum.com.au

I think this means GBP are now in deep poo.

If they have decided not to drill Sockwe, then there is nothing left for Kenya. The huge costs involved in acquiring the drill ship, getting it there and drilling the Pomboo duster are enormous.

What has GBP left? 14% of FOGL and a Malteaser.

Big Al, BTW the drillship appears to have performed as it should have done, so thanks for your much earlier informed post.

Hi Seawall.

I thought GBP had loads of potential, but now am very glad I dumped it at around 29p to go shopping for something else.

Hope you haven't done too badly on this.

No I'm fine.

It was amongst my recent clear out of long shot stocks

Thanks for asking.

Good thing too - the words "shirt" and "lose" spring to mind . . .

Global Petroleum Ltd
24 July 2007



FALKLAND OIL & GAS LIMITED ANNOUNCEMENT

Global Petroleum Limited advised that Falkland Oil & Gas Limited ('FOGL') has
released an announcement in relation to a possible farm in to certain assets.
The full announcement appears hereunder.

Global Petroleum holds a 14% interest in FOGL.

Mark Savage
Chairman

Telephone: +1505 344 2822
Fax: +1505 344 2922
Email:
marksavage@comcast.net


23 July 2007

Falkland Oil & Gas Limited
(the 'Company' or 'FOGL')

Falkland Oil & Gas Limited (the 'Company' or 'FOGL') notes the price movement in
the Company's share price and confirms that it is in advanced discussions which
may or may not lead to a major resources company farming in to certain of its
assets.

Any such transaction, if agreed between the two parties, would be subject, inter
alia, to the approval of the Falkland Islands Government.

A further announcement will be made in due course.

Enquiries:

About time this one had a bit of luck, may it go upwards in peace.

Certainly going upwards with the FOGL rumours. Nice end to the month !

Maybe get two bites of the cherry here...
(SHARECAST) - Australia-based AIM-listed oil explorer Globl Petroleum said the third well at its 15% owned Leighton project in Texas has begun to flow oil and gas.

The Tyler Ranch #2 well flowed oil and gas at the gross rate of 366 barrels of oil equivalent per day (boepd) from the Olmos reservoir.

The flow rate is in line with Peeler #1 and Tyler #1, the first two wells drilled on the Leighton onshore project located on the Gulf Coast of Texas.

The combined output rate of the three wells in production is a gross 600 boepd, of which Globals share is 67.5 boepd.

The Tyler Ranch #2 well has been hooked up to oil tanks and a gas sales pipeline so Global will start to receive revenue from the wells output.

Texan Petroleum, the majority owner of the prospect, said that drilling continues on Tyler Ranch #3, the fourth Leighton production well.

The drill has bored down to a depth of 4,189 feet (1,277 metres) and is expected to hit the targeted Olmos oil and gas reservoir in six to eight days.