July 24 (Reuters) - Global Petroleum Ltd GBP.AX :
* Announces an update in relation to the company's assets, its acquisition strategy
* Intends to enter into discussions with the namibian authorities regarding future exploration in the blocks
* Has commenced a programme to reduce its corporate costs in response to the lower oil price environment
* Implementing a substantial reduction in corporate costs
* Regarding the company's juan de nova permit, board has taken the decision to withdraw from the application
* Source text for Eikon ID:nASX6fWwKP