GLOBAL OIL & GAS LIMITED(GLV)

name changed to Condor Energy Limited

The suspension of trading in the securities of Global Oil and Gas Limited will be lifted from the commencement of trading today, Wednesday, 12 August 2020, following the release by GLV of an announcement regarding a capital raising and acquisition.

The company releases a notice of its Proposed issue of Securities - GLV.

GLV exclusive option to acquire a 20% equity interest in strategic WA oil and gas player Goshawk Energy. 9 exploration licenses covering approximately 41,000 km2 being the single largest holding in the proven onshore Canning Basin, Western Australia. 100% owned Goshawk Energy Licenses EPA 94 & 126 covering approximately 5,300 km2. Joint venture with Andrew Forrest's Squadron Energy on 7 other licenses covering approximately 35,700 km2 - Goshawk (Operator) 20% Squadron 80%. Current focus on driving exploration and development of multiple conventional sub-salt oil prospects and leads defined from existing 2D seismic and well data. EPA 146 "“ Squadron Joint Venture Block "“ exploration program includes 3D seismic survey to finalise the location for drilling of the 194 MMbbl Prospective Resource (unrisked Best Estimate Undiscovered PIIP, net GLV 7.8 MMbbl) Helvetica sub-salt oil Prospect. High impact, drilling programs currently being advanced on nearby licenses testing a variety of play types "“ Buru Energy, Theia Energy, Rey and Black Mountain Exploration's activities will assist Goshawk in proving the potential of its portfolio. Extensive onshore exploration portfolio covering multiple play types currently being reviewed by the Company as part of its technical due diligence with an aim to upgrade the current Prospective Resource base in the event that GLV proceeds with the Transaction. Option agreement also provides GLV with strategic pre-emptive rights and first rights of refusal with respect to the balance of Goshawk's shareholding. GLV will also gain access to a proven technical team which has extensive experience in exploring and developing in Australia and internationally who will also assist with the Company's current Southern Georgina Basin Project in the Northern Territory. Firm commitments received for $1.0m placement to sophisticated and professional investors and further rights issue terms currently being finalised.

The company anticipates that the suspension of its securities will continue until the earlier of the commencement of trading on 12 August 2020 or when the announcement in relation to the capital raising and acquisition is released.

The securities of Global Oil & Gas Limited will be suspended from quotation immediately under Listing Rule 17.2, at the request of GLV, pending the release of an announcement regarding a capital raising and acquisition.

we understand that on or about this date the company consolidated its shares 1 for 12

name changed from Global Vanadium Limited