Global Energy Development Share Discussion Threads

[silkywhite] 25/5/2015 13:09

Joined you guys here at 36p last week. Could easily double and still be cheap

[salpara111] 24/5/2015 15:14

I would much rather have my holding liquidated at the cash price per share!
I really struggle to know what to do here.
With the net cash value at roughly double the current share price part of me feels that it is a no brainer to double up but on the flip side the management have shown themselves incapable of generating any real shareholder value.
Mercifully they don't control the necessary 75% to delist the share so I guess I keep my holding for the moment in the vague hope that with oil seeming to stabilise around the $65 level that they can deliver something tangible.

[loverat] 22/5/2015 18:39

You never know - you might get a cup of tea and a gingernut.

[salpara111] 21/5/2015 19:02

I could walk to the office where the AGM is being held from my flat in about 15 minutes but don't feel that I would get anything useful out of the experience.

[norbert colon] 20/5/2015 15:55

I would suggest as many PI's attending the AGM on 10th June (London SE1) as possible to try and get a firmer understanding on the company's strategy specifically given the huge cash pile.

[loverat] 20/5/2015 15:38

I think this one has got to start a recovery soon. A new low and MC half the last reported cash at bank.

[loobrush] 14/5/2015 15:17

Bought a few today ahead of AGM in June as it does seem too cheap.
As the guys running this are pretty old it seems to me that they may put the company up for sale or new younger directors may be appointed as by the time the oil price gets back up they should be retired. Either way I think there is some mileage in the price and I don't think it will get any cheaper.We shall see.

[the reverend david] 13/5/2015 15:45

I'm going to try to be there not sure at the moment.however this stock needs more than prayers it needs an exorcism of which I am not ordained to perform !

[waleoilbeefhooked] 13/5/2015 10:33

Rev, do you mind if we nominate you? This stock needs some prayers and a good blessing :D)

[the reverend david] 13/5/2015 10:27

Is anybody going to the AGM ?

[johnsmithmmxiii] 23/4/2015 08:00

Salpara, there are very few companies in GED's position. Cash in the bank in excess of market cap, no capex commitment, reducing overheads ( but probably not quitck enough and will use up cash in time) and with a stated strategy to increase shareholder value by streamlining overheads and seeking alternatives (presumably acquisitions). If GED can buy into a company in need of cash but with producing assets and good upside then it may be in a great position to expand and come out of the oil price crash in a much better position than most other O&G companies. Notwithstanding management failure, greed etc. Not currently invested here but still keeping an eye on it.

Aimho door

[salpara111] 08/4/2015 17:56

Hard to know what to do here. I have a stake here from 80p so like most holders well under water but given that there is over 70p net in cash I cant bring myself to sell at the current share price however I am not at all clear what is going to happen in the not too distant future that would allow the stock to re-rate back to nearer its cash value.
Everything suggests that the poo is going to remain under pressure for at least another 6 months which means no development.
Management are only looking out for themselves so will not wind up the company and return the cash.
Difficult to know what to do.

[hugepants] 08/4/2015 09:37

from the accounts to end of 2104 (on the website);

Reserves
The independent petroleum engineers Ralph E. Davis Associates, Inc (“RED”) reported that as at 31 December 2014: proved plus probable (“2P”) reserves net to the Company totalled 24.3 million barrels of oil equivalent (“BOE”); and proved plus probable plus possible (“3P”) reserves net to the Company totalled
32.6 million BOE.


As you say LP the oil price probably needs to increase before value is assigned to these assets. They are onshore so development costs may not be huge.

[liarspoker] 08/4/2015 07:23

The oil assets are obviously worth more at higher prices HP. GED's partner bailed on the assets when the oil price fell leaving GED full ownership of the assets.

The assets are obviously worth something, even with the decrease in reserves caused by the oil price fall, but how much I am not too sure.

I'm sure that they tax liab will stray on the balance sheet.

[hugepants] 07/4/2015 11:39

This one was recently flagged up by Paul Curtis. Big discount to cash now. I make net cash minus all liabilities about 60p per share versus current 37p share price. What about the O&G assets, are they worth jack?

[on target] 16/3/2015 16:18

75p

cash/share.

edit> 77p with today's $/£ rate.

[anangf] 13/3/2015 16:29

I am sick of this stock. Management there solely to meet their own needs at the moment.

[paleje] 13/3/2015 14:02

Doubt if it's cost cutting because his executive input still remains, conflict of interest yes a possibility, in any case I think we can expect some course of action to emerge, whether to shareholders benefit or not remains to be seen.

[fuiseog] 13/3/2015 11:39

The Vos resignation seems a strange move to me.

Could it be that there's some corporate action being considered? That distancing himself from the Board, could he be freeing himself up to take an involvement in the outcomes?

Any thoughts as to the rationale, or is it just que sera?

[on target] 13/3/2015 11:17

Part of cost-cutting measures perhaps?

[paleje] 13/3/2015 09:33

Why would SV resign from Board with immediate effect yet still be kept on as MD of executive management. Confused.

[salpara111] 09/3/2015 08:20

Well, 76p in net cash but no return of any of it....just holding onto it in order to ensure they can pay fat management salaries for the next 10 years!
I am a holder from 80p so very disappointed that there is no indication of how they plan to "add shareholder value" over the next 6 months.
If they had returned 20p a share I seriously doubt that the share price would have dropped more than 10p.
I will most likely exit in the near future as I have lost a stack of cash here and more importantly, I can't see what is going to change in the next 6 months as I dont see any sustained increase in oil prices for at least 6 months.

[liarspoker] 09/3/2015 08:03

opodio, please list a few other shares which are trading at a 45% discount to net cash.