Global Petroleum Share Discussion Threads

[jimarilo] 24/8/2018 14:55

Could be last chance under 3p

Chance of news next week and the Poseidon could make a move over the long weekend

Still heavily discounted

[emptyend] 24/8/2018 12:03

There are two possible conclusions. Either they have a short (very short?) list of potentially-interested parties and (with drilling about to start elsewhere, everyone with any interest will have been tapped up and/or seen the data) there is no point in encouraging further interest.............or they don't.I'd like to think it possible that someone at least has a "preferred purchaser" option at this stage, pending drilling elsewhere and settlement of final terms.Another point is that they are unlikely to be promoting a farm-out of the asset if the company has decided to prefer a whole company sale........

[jimarilo] 24/8/2018 11:42

Agreed, looking very promising

[joestalin] 24/8/2018 11:10

It indicates a sense of confidence that something has been agreed rather than anything else.

Who with, and how much, are going to be interesting to find out.

[jimarilo] 24/8/2018 10:33

Post from the LSE sounds probable

Something will be put out soon i'm sure.. This is my opinion only... it is highly unlikely Stellar have removed information from the site as they could not find a deal at a time before the first drill bit from the latest majors (exxon) have even turned the drillbit.. a year has not even passed! Perhaps it is more like a house sale in that serious interest has been shown and the company involved has asked that it be removed from advertisment..

[jimarilo] 24/8/2018 09:00

Tom read post 6366

[joestalin] 24/8/2018 08:59

long weekend coming - market will close until Tuesday.

Looks like 'last orders, please'

[encarter] 24/8/2018 08:42

Namibia is back in favour. The big boys are snapping up acerage so maybe a deal is close. Regardless with drilling due over the coming months we could see an oil strike nearby.

[tomboyb] 24/8/2018 08:32

Up on very thin volume -

Any ideas?

[jimarilo] 24/8/2018 08:20

That old line, "wouldn't want to be out over the weekend", defiantly in play today ;-)

[jimarilo] 24/8/2018 07:15

Up 21% on the ASX 330k in trades and all look like sells

Looks like they put the price up at the open, to draw sellers

[jimarilo] 23/8/2018 22:41

For any regulars here you will recognise a difference in the link below

It headlines "Current Mandates" and GBP is no longer listed

Significant ??? if so.... Re-rating ???

[encarter] 23/8/2018 20:11

With all the recent interest in Namibia maybe they are close to a farm in deal with one of the big boys.

[jimarilo] 23/8/2018 17:32

Agreed still at a huge discount

2.7p paid after the close, bodes well going into the weekend

[yasrub] 23/8/2018 17:27

Also interesting is GBP has hit the heady heights of a current valuation of approx. £3.8m :-) and at the beginning of the year had cash of circa. £3.4m with low cash burn.

[emptyend] 23/8/2018 17:18

Interesting that three out of the last 4 trading days are amongst the 4 highest volume days in the last three months. If anyone wants a reasonable position, they need to get a move on.

[jimarilo] 23/8/2018 16:21

Just maximum 6 trading days to Cormorant spud

[encarter] 23/8/2018 16:03

Can't buy at 2.6p now, about to fly.

[jimarilo] 23/8/2018 14:25

Keep an eye on Eco

Volume up maybe some news soon from there, might have a read across to here

[jimarilo] 23/8/2018 11:02

Spread tightened up online, can only buy 10k and sell 150k

Orders required outside that

[daar] 23/8/2018 10:08

Sure, will move higher one of these days

[encarter] 23/8/2018 09:57

Not much stock left at 2.5p

[daar] 23/8/2018 09:52

2.50p being paid!!

[jimarilo] 22/8/2018 23:57

Some may think we are desperate for a deal to be completed before Cormorant spud/results

The Peters in fact have plenty of time on their side as the Poseidon drillship is contracted well into 2019, which doesn't include Shell or any contracts with the resident West Eclipse and Jasper Explorer drill rigs still yet to play apart.

So, plenty of wells to be drilled and just a matter of time before a commercial discovery, which could be with Cormorant, who knows

If there is a discovery, there will be a queue forming outside GBP's office door and a premium paid

Therefore no pressure to take a low offer

Looking very positive imho

[joestalin] 22/8/2018 17:05

Iran is old news though - from RNS:-

The Iranian Oil Company (U.K.) Limited ("IOC"), a subsidiary of the National Iranian Oil Company, has a 50% interest in the Rhum field. As a result of the interest held by IOC, Rhum operations are affected by US sanctions and, in particular, the new sanctions regime announced by the US government on 8 May.