Global Oil & Gas (ASX:GLV) completes purchase of Goshawk stake

• Global Oil & Gas (GLV) has completed the acquisition of a 20 per cent interest in oil and gas producer Goshawk Energy
• Goshawk has nine exploration licences in WA’s Canning Basin, including a joint venture with Squadron Energy
• GLV exercised the option to acquire the interest in September and after entering a heads of agreement with the company in August
• Additionally, GLV has appointed Goshawk Group co-founder Richard Barker as a director
• Shares have been down 8.3 per cent and trading at 1.1 cents

Global Oil & Gas (GLV) has completed the acquisition of a 20 per cent interest in oil and gas producer Goshawk Energy.

The company inked a heads of agreement with the company back in August and in September exercised its option to acquire the equity interest in September.

Goshawk has nine exploration licences in WA’s Canning Basin, seven of which are part of a joint venture with Squadron Energy.

Goshawk is the operator and holds a 20 per cent interest in the Squadron Goshawk Joint Venture (SGJV).

The SGJV covers roughly 35,700 square kilometres and includes the Helvetica prospect.

Global Oil and Gas Director Patric Glovac said the company is eager to work with Goshawk.

“This is a very exciting time for GLV shareholders in completing the Goshawk transaction and gaining exposure to the vast acreage within the Goshawk portfolio, including the Helvetica Prospect,”Patric stated.

“We look forward to working closely with Goshawk over the coming months to advance exploration plans and welcome Richard to the board,” he continued.

GLV has appointed Goshawk Group co-founder Richard Barker as a director. He has over ten years of executive experience in both listed and unlisted oil and gas companies.

In September GVL also appointed Non-Executive Director Patric Glovac as Executive Director to advance the Goshawk as well as its Georgina Basin prospects in the Northern Territory.

Shares have been down 8.3 per cent and trading at 1.1 cents at 2:20 pm AEDT.