Global Oil & Gas Ltd (ASX:GLV) has successfully raised AU$1.365 million to accelerate its work plan in the Tumbes Basin Technical Evaluation Agreement (TEA) offshore Peru. The funding, secured through a well-supported placement, enables the company to expedite its activities in the region, leveraging over 3,800km² of existing 3D seismic data and 7,000km of 2D seismic.
With two promising areas identified within the TEA block, covering 650km², Global is actively reprocessing seismic data to identify potential leads, prospects, and resources. The placement, conducted at AU$0.015 per share, also includes options exercisable at AU$0.04 before December 31, 2025. Shareholder approval is sought for director participation, with CPS Capital Group Pty Ltd engaged as lead manager for the placement. An extraordinary general meeting will be convened to address shareholder concerns and approve the issuance of options and new shares.
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Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.
