Woodside to Continue to Participate in Kenyan Joint Venture

Global Petroleum Limited reports that Woodside has elected to continue to participate in Blocks L5 and L7 in Kenya. It is the Joint Venture's intention to record further seismic later this year with a view to conducting drilling operations towards the end of 2005.

Global has a 20% equity in L5 and L7 with 40% being held by Woodside Energy (Kenya) Pty Ltd which is the operator, the other 40% being held by UK based Dana Petroleum (E&P)Limited. The costs associated with Global's 20% holding are covered for all activities through the drilling and testing of two wells.

Woodside has yet to notify Global of its position in regard to L10 although this is expected shortly.

In regard to L11, Woodside has until late 2005 to notify Global of its intentions.