Result of Retail Offer

Global Petroleum Limited (LSE AIM: GBP) is pleased to announce, further to its earlier announcement of 7 January 2024, that it has conditionally raised £51,050 (before expenses) via the conditional issue of 22,688,888 new ordinary shares in the capital of the Company (the "Retail Offer Shares") at a price of 0.225 pence per share (the "Issue Price") pursuant to its offer to its existing retail shareholders via CMC CapX (the "Retail Offer").

The Retail Offer is conditional on the Retail Offer Shares being admitted to trading on the AIM market operated by the London Stock Exchange plc ("Admission"). Admission is expected to take place at 8.00 a.m. on or around 16 January 2025.

Hamza Choudhry CFO of Global Petroleum commented:

"We are pleased to have conducted this Retail Offer to give our shareholders the same opportunities as family offices and high net worth individuals who partook in the capital raise. This offer ensures their participation ahead of the expected exciting developments in 2025, reflecting our commitment to include all stakeholders in the company's growth."

Total voting rights

Following Admission, the total issued share capital of the Company will be 4,616,477,344 Ordinary Shares. Accordingly, the figure of 4,616,477,344 is to be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to, their interest in the Company under the FCA's Disclosure Guidance and Transparency Rules.

This announcement has been issued by and is the sole responsibility of the Company.