Global Petroleum Limited (LON:GBP) shot up 5.5% on Wednesday . The company traded as high as GBX 1.42 ($0.02) and last traded at GBX 1.45 ($0.02). 347,684 shares were traded during mid-day trading, a decline of 24% from the average session volume of 455,354 shares. The stock had previously closed at GBX 1.38 ($0.02).
The firm has a market cap of $2.94 million and a P/E ratio of -1.45.
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Global Petroleum Limited engages in the exploration of oil and gas properties in Africa. The company primarily owns a 85% participating interest in the Namibian project consisting of offshore blocks 1910B and 2010A covering an area of 5,810 square kilometers, and 2011A covering an area of 5,798 square kilometers located in the Republic of Namibia.
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