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