Global Petroleum Share Discussion Threads

[jimarilo] 29/8/2018 09:58

237k was a buy

[jimarilo] 29/8/2018 09:52

The fact that the mandate has been removed from the Stellar website is a good indication something is going on and has de-risked this investment for me.

The Peters have not waited this long preserving this asset just for it to run through their hands.

One thing is for sure there is a real prospect of the value to increase here and will be foremost on the minds of any potential suitor

BPC are a clear example of what can happen when initial news of a deal is announced, bouncing from 0.6p to over 7p and a m/cap over £110m

Even after a let down there m/cap is around £27m, compared to GBP around £5m

We are in a much better position cash and post code wise, not forgetting the huge potential in PEL29

[winnet] 29/8/2018 09:37

My view is that a deal of any sort, will lead to a serious re-rate. However, the possibility does exist that there could be a "no deal" scenario, where holders are left holding the baby. However, the downside of this cannot be more than cash IMO, as in that scenario the Peters would simply wait it out and mothball the company (like they've done over at BLVN).

Risk reward compelling IMO.

[jimarilo] 29/8/2018 09:20

Indeed the offer online just gone up to 2.66p after that trade

I imaging some looking to buy cheaper if it slides, not sure they will get the chance

Cormorant due to spud 1st September, Poseidon must be due to make a move tomorrow maybe

[winnet] 29/8/2018 09:13

Another chunky buy at .264

Volume dried up a bit, so will be interesting to see which way it goes, surely they've exhausted sellers at this level...

[jimarilo] 29/8/2018 07:33

Boke note on PCL

Says, rigs already secured for 6+ wells for the next 12 to 18 months



The Pacific Legend looks to be one of the supply ships for the Poseidon. Pacific Leader must be another

Edit

[jimarilo] 28/8/2018 09:22

ECO Q1 results due now, previous results have said "In line with the Company's strategy, Eco is actively identifying, evaluating and negotiating additional project opportunities."

[jimarilo] 28/8/2018 09:06

Interview today with John Begg Pancon (PCL)

[jimarilo] 27/8/2018 22:23

Africa Energy Corp up 25% tonight on the TSXV

[jimarilo] 27/8/2018 11:10

The West Eclipse has finished it's 2 year contract with Exxon and is now anchored in Walvis bay

Wouldn't surprise me if Exxon have secured the Eclipse again

[jimarilo] 27/8/2018 08:13

38.5% rise over the last two trading days on the ASX,

May have news Tuesday or if this continues they maybe be forced to make an announcement in the week

[emptyend] 26/8/2018 21:34

I wouldn't rush to speculate on the details.....there remain very many possibilities, at least to those of us on the outside. Suffice to say that there seems to be a good case for hoping that the upcoming two wells will increase the attractions of Global's blocks.....perhaps by a material amount.

[jimarilo] 26/8/2018 20:53

These factors are what will have been contemplated and worked on, by industry suitors weighing up the risk and potential

If the Stellar website is anything to go by, we may well be in the final offer stage and probably have several suitors in the mix with varying offer types

We could have AOC/AEC taking a stake in the company, as has happened with ECO, PCL and Impact. A Major could then farm in to the asset, which would see us with deep pocket backers and a deep pocket farmee

This concept would add value well above a clean take out imo

Exciting times

[emptyend] 26/8/2018 20:07

Interesting spot. 1650m depth for 459mn bbls gross mean prospective resources at Prospect S with a further 1.4bn in follow-on prospects....with the even-deeper water prospect W (2300m? 284mn bbls) as the optional well. Prospect S is in three separate upper cretaceous turbidite targets in a 4-way dip closure.In contrast, Gemsbok is in 1400m of water (TD c 3000m) with 1100mn bbls of gross best estimate prospective resources in the main Aptian carbonate reservoir and a further 620mn in secondary targets....and another 800mn bbl+ gross best estimate prospective resources in each of the main Lion and Dik-Dik prospects. Total best estimate gross is 3.66bn.....and the high estimate total is 9.64bnOf course....the GBP prospects remain higher risk than Chariot's Prospect S.....but then they have shot 3D - and have less doubt over source. Success in proving source at Cormorant (Tullow's prospect) may well derisk GBP's prospects including Gemsbok in relation to source..........interesting to see what happens next......

[jimarilo] 26/8/2018 14:19

Difficult to find their WD quote, but found it here on page 14 from a 2017 presentation

Water depth for Prospect S 1650m

[emptyend] 26/8/2018 12:32

In the context of the two wells, clearly Cormorant is much closer. But what is the water depth on Prospect S? Looks as if it may be deeper than over Gemsbok, based on this map?:http://www.mme.gov.na/files/publications/42e_Lic_Map_13042018.pdf

[jimarilo] 26/8/2018 12:06

Interest building

[jimarilo] 25/8/2018 22:45

Amsol are owners of the siviu chemical tanker and one of their services is fuel transfer and Tullow are one of their clients
as per the link below

Looks like the SIVIU is currently transferring fuel to the Poseidon

[pakenham] 25/8/2018 20:09

Well only 200k were bought above 2.8 - so no way imo the mms would sell 700k at 2.8 - impossible from my experience in price action. Also nt to buy more than a handful at 2.8 at the close -- mms dropped bid to scare peeps into selling earlier on friday and managed to get a 100k at 2.6... very low free float so should move higher with golden cross forming on the chart if peeps resist selling when tullow spud only a few days away next door to our licence... imagine if tullow strike oil....

[jimarilo] 25/8/2018 18:55

Who cares really

Someone sold them or bought them, someone paid 2.8p

Not to be sniffed at £21k worth of confidence ;-)

[chopsy] 25/8/2018 17:50

How do we know those late trades at 2.8 weren't sells from when the mid was 2.9?

[daar] 25/8/2018 02:55

Yes bodes well for Tuesday morning, should open at 2.80/3p

[jimarilo] 24/8/2018 20:29

Just noticed 2 late trades 350k and 400k both @ 2.8p

[jimarilo] 24/8/2018 16:52

Could only buy 10k towards the close and sell 300k online

Obviously struggling for stock, will have to let the price go at some point