The Namibian project of Jupiter consists of an 85% participating interest in petroleum exploration licence no. 0029 covering blocks 1910B and 2010A.
These offshore blocks cover an area of approximately 11,730 sq km in water depths ranging from 1,200m to 3,000m.
According to Global Petroleum, a reconnaissance grid of 1995 2D seismic data over both blocks has been purchased and is currently being interpreted.
Preliminary examination shows the presence of large structural highs and the presence of a significant Early Cretaceous and possibly older section beneath the main highs.
The Juan de Nova project consists of a 30% interest in the Juan de Nova Est permit that was issued by the French government in December 2008.
The permit covers about 9,010 sq km and is situated to the east of the small island of Juan de Nova in the Mozambique Channel.
Global Petroleum has issued 25 million new ordinary shares in consideration for the acquisition of Jupiter.
