16 December 2015

Global Petroleum Limited

("Global" or "the Company")

Grant of Shares to Directors

Global Petroleum Limited - AIM: GBP, ASX: GBP - the oil and gas exploration company presently focused on emerging plays in Africa and the Mediterranean, announces that it has today made a discretionary grant and allotment of the following ordinary shares of no par value ("Ordinary Shares") to Directors in accordance with the approval given by shareholders in this regard at the Company's Annual General Meeting held in Brisbane on 17 November 2015:

*includes shares held through TM Services Limited and IPM Personal Pension Trustees Limited

# includes shares held through TM Services Limited

The number of shares issued was based on the average share price for the period 1 August to 31 October 2015, being A$0.0406 on ASX and £0.0183 on the London Stock Exchange, and on the 25% cash value forgone by the Directors of their entitlements (less applicable UK income taxes and National Insurance contributions) as set out in audited Remuneration Report in the Company's 2014-2015 Annual Report.

The new Ordinary Shares will rank equally in all respects with the existing ordinary shares of the Company. Application for admission to trading on AIM ("Admission") for 729,712 new Ordinary Shares has been made and Admission is expected to be effective from 21 December 2015.

Following Admission, the total issued share capital of the Company will be 200,174,499 ordinary shares. The Company holds no Ordinary Shares in treasury.

An Appendix 3B and Directors' Appendix 3Ys have been separately released on ASX. For further information please visit www.globalpetroleum.com.au or contact:

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