Global Petroleum Ltd - Africa and Mediterranean focused oil and gas explorer - Says appeals against the environmental decrees granted in its favour by the Italian authorities have recently been dismissed by the Council of State. Explains the actions were brought by the municipality of Margherita di Savoia in Puglia against the relevant Italian ministries and entities - with Global joined as an ‘interested party’ - and related to the company’s applications known as d 82 FR-GP and d 83 FR-GP. Adds there are two similar cases still outstanding, and the same outcome is expected in relation to them. Notes the latest judgements in Global’s favour follow victories in all of the cases brought against the company by various entities in Puglia. Points out the ruling allows Global to pursue with the Italian authorities the grant of exploration permits in relation to d 82 FR-GP and d 83 FR-GP.

Current stock price: 0.13 pence

12-month change: down 60%

Copyright 2023 Alliance News Ltd. All Rights Reserved.