Welcome stories

7 March 2005

Global Petroleum opens the main Market

Global Petroleum is developing a portfolio of high upside exploration projects and joint ventures with proven successful explorers and operators such as Woodside Petroleum and Hardman Resources.  Global’s key value projects are offshore Kenya, where the Company’s share of costs are carried through two wells, and its holdings in two separate AIM-traded companies focused on oil & gas and mineral exploration in the Falkland Islands.

The company is already listed on the Australian Stock Exchange (“ASX”), where it had a market capitalisation of approximately A$113.4m (£45.4m) as at 4 March 2005, and wants to expose its emerging oil and gas activities to the London capital market.  There is no capital raising in connection with the admission. 

Global Petroleum’s Executive Chairman, John Armstrong, said:  “The AIM listing is part of a plan to develop Global Petroleum into a company with a sound portfolio of petroleum exploration projects, which has access to the appropriate capital markets.”

KBC Peel Hunt is acting as Nominated Adviser and Broker.

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About The Source

The Source is a dynamic piece of sculpture specially designed by artists Greyworld for the London Stock Exchange. Permanently positioned in the main atrium of our new building at Paternoster Square, The Source consists of 729 spheres, suspended on metal cables stretching the full height of the 32-metre, 8-storey atrium. Controlled electronically, each sphere moves independently, forming random shifting patterns or words, numbers and shapes.

Now that the trading floor is a symbol only of the London Stock Exchange’s past  - the equities floor closed soon after Big Bang in 1986 - the Source has been designed to represent visually London’s financial and capital markets in an electronic age.

The Source will mark the start of the London markets every day at 8.00am, and we will be inviting selected VIPs or dignitaries to push the start button and set The Source into motion. It will also mark the closing of the markets at 4.30pm. During the trading day, The Source will move into its ‘dream state’, with spheres continuously shifting and moving up and down the full height of the atrium.

A few facts about The Source

• Each sphere is lit from within and contains 21 separate components
• The spheres are suspended on a total of 5.6 km of metal cable
• The Source is 10m taller than the Angel of the North
• The plates forming the base and top of The Source are the UK’ s largest vac-formed objects.

About Greyworld

Greyworld is a group of artists who create urban art.  It was founded in Paris in 1993 by Andrew Shoben and since 1995 the group has been based in London.  Greyworld’s main aim is to create works of art that articulate public spaces. It has exhibited its work around the world, with permanent installations in 12 countries and in 2004 it will unveil new installations in Liverpool, New York and Shanghai.