Global Petroleum Share Discussion Threads

[emptyend] 24/9/2018 07:32

....since the principal question over Gemsbok etc was source, this seems to me to be a neutral to mildly positive result. If (as seems to be the case) oil was present but has migrated from Cormorant, the question is obviously where is has gone to. No doubt all those with nearby acreage (including GBP) will be refreshing their geological models.The next deals in the area may give some pointers......or perhaps the one last week was more significant than it looked?

[jimarilo] 24/9/2018 02:00

There it is C1 is a dry well, with some encouraging data

Wet gas signatures, indicative of oil, were first encountered in the overlying shale section and persisted throughout the target interval, indicating that there has been significant hydrocarbon generation in the area.

Important geological data has been gained from this well, providing valuable insights into the prospectivity of the Aptian-Cenomanian turbidite fans that are still valid exploration plays with very large oil resource potential in Pancontinental’s acreage both in PEL 37 and, further south, in PEL 87
The well data supports the presence of at least one active source rock system, with
encouraging implications for the range of play types mapped in the block,



However further validation we have a deal on our hands at GBP

PCL dropped 57% at the open and GBP went up 9% and on to 12.5% as of this time

The website updates are a key factor to what is going on here imo

[jimarilo] 23/9/2018 23:12

This is very significant imo

ee, not sure if you have seen the complete GBP website ?

On the corporate header is Strategy & Vision

It has been totally revamped and looks very much like AEC strategy ;-)

[jimarilo] 23/9/2018 22:49

Agreed ee, this week may prove to be a big week for GBP

As ever time will tell ;--)

DYOR

[penfold6] 23/9/2018 21:50

jim
but you asked me over here to chat gbp cpr, as per post #432 on the eco bb

now you are sticking your head in the sand, ignoring the facts when i chat about them

good luck all long term investors, but please ignore trader jims hype and bb spamming. dyor

[emptyend] 23/9/2018 21:16

PAN's only concern would be PAN. Its a stretch to read across from that to GBP....but the rise on Friday just confirms what a cheap Namibia option GBP is. In the event that the plays look like working, there could be some big moves.

[jimarilo] 23/9/2018 13:40

Not pumping, was answering a question and did apologise

"Sorry about being off topic, but was asked a question ;-)"

Your filtered can't be bothered with tripe

penfold6
23 Sep '18 - 12:11 - 6570 of 6571 (Filtered)

[penfold6] 23/9/2018 12:11

couldnt care less if you sold eco

your mind is clearly not thinking straight today(second time - lol) as it was your pumping gbp on the eco board that got my attention #419 :



seems you pump gbp all over advfn. stick to your ground and im sure others will stick to theirs! get it?

[jimarilo] 23/9/2018 11:32

I have two isa accounts with long term GBP shares and one dealing account with a fraction of the other two accounts combined, which I used to trade yesterday thinking the share price would drop after the AEC rns. The share price did drop, but not enough to make the trade worth while

Luckily I managed to buy them back at an average of the same price before the close

You are wasting your breath here, as before when you and your mate got upset after I sold ECO to buy more GBP, you don't seem to have got over that for some reason

Now you are at it again, but by all means, cart on

[penfold6] 23/9/2018 10:46

'One minute we are not good enough for this block and should be given to a cash rich company. The next post the block isn't any good'

errr??? now youve got yourself all confused(lol). both comments relate to the block being not that special. ie no major interested to acquire it other than gbp and the cpr being out of date time. work it out.

no one has yet wanted to farm into your other block either. why?

time will tell, but at least the peters are not ramping it like you and others are here

pumped by you in the morning, dumped by you in the afternoon. trying to trade it at the expense of others that listened to your ramping.

[jimarilo] 23/9/2018 08:40

The Peters will be kicking themselves if they have read your post. If only they spoke to you first it could have saved them all this time and trouble acquiring block 2011A

One minute we are not good enough for this block and should be given to a cash rich company. The next post the block isn't any good

"surely the ministry would've rather given it to a cash rich company, like african oil, that had the capital to quickly progress the licence, instead of a minnow with insufficient funds to progress the licence to drilling."

Africa Oil may have an interest yet

Sour grapes comes to mind, but if your lucky you may still have time to buy ;-)

Edit: be quite amusing if Eco take an interest in 2011A, they also have a hand to show

[penfold6] 23/9/2018 07:48

if aec are interested in gbp, then imo its certainly not interested in the new block for the reason i gave before. ie if they were, they would have bidded for it and more likely to have got it than gbp.

wrt the new block 2011a. gbp has done the right thing and not commented on any potential resources, in both rns and the new comment on the new website. the model used in the 2011 cpr was later shown to be incorrect, as trp found out, so very wise to re analyse and stay quiet, unlike some posters here!

so some of the poster comments on here about resources should be taken with a pinch of salt!

i hope there is acquisition activity in the area and a non c1 duster. things would get very tasty for all players.

gla

[jimarilo] 23/9/2018 01:25

Then why single out GBP for the rise if related to PCL trading halt ?

Clearly the rise of GBP is related to a potential deal, which would add significant upside to the current sp, that upside potential has been multiplied by the addition of the new block 2011A

The first scenario to play out is the potential for a deal will be closed ahead of the C1 result, another scenario would be on condition of C1 results

The first option is my choice, AEC are keen to close an opportunity ahead of the C1 results, I have had that confirmed. Obviously I do not know who that deal is with. But with the current share price action, volume and recent 2011A news, GBP looks like a stand out candidate for AEC, who were very quick to say they know nothing re:C1

Eco have the same backers, AOC and their Keith Hill sits on both boards. Eco said they were looking at two opportunities, they announced a small deal last week and may yet have the main course to serve

AEC present Monday evening in Sweden, if there is no news Monday don't be surprised if Tuesday morning is the day imo

New target price 20p minimum ??

[xxnjr1] 23/9/2018 00:53

If that was the plan then it's utterly failed with respect to GBP!

[emptyend] 22/9/2018 18:30

Perhaps, Penfold, but it may be best to pre-empt speculation with a neutral halt rather than so clearly encourage it.

[jimarilo] 22/9/2018 00:02

I see the company website has been updated with the new block installed

Click on the location, status etc and scroll down

[jimarilo] 21/9/2018 21:28

Thanks for the halt explanation ee, all makes sense

@ P
Regarding block 2011A, Peter Hill said it has been a long term aim of the company to acquire this block. GBP would have put a good case forward having PEL29 and spent a substantial amount of cash time and effort defining the licence and it's correlation to 2011A. As a package the two assets were probably more marketable.

Since the launch of the PEL29 farm out mandate, this additional block must have been part of conversation and negotiation which would have strengthened there hand for the application of 2011A imo

What is the likely hood of a farm out ? pretty good, however you will need to do a bit more research to find that out. You never took this seriously before and I can't be a*sed trying to convince you now ;--)

We have our own idea's and reasons for a farm out/buyout scenario, which I believe is currently in play

It is uncanny how back in May I realised Repsol and TRP had relinquished PEL10, but the licence map hadn't been updated for years and I thought that's not good. So emailed Maggie Shino at the Ministry, she apologised for the confusion and said, "Kindly be assured that this will not have an impact on our process with Global Petroleum" Which means more now, than it did then, but clearly the ministry were very happy with GBP

Since then the licence map has been updated twice.

Just to add TRP have a new application in for the rest of PEL10 as well as some other licences in Namibia

Edit: Peter Taylor holds 4% TPR, 20%GBP

[xxnjr1] 21/9/2018 20:11

or even a cash rich company like ExxonMobil! Completely agree penfold6. Whether or not a farm-in subsequently arises remains to be seen. But for the reasons you've given, maybe it's a slim chance.

[penfold6] 21/9/2018 19:56

its strange that gbp was the only one to rally today, so leads me to think its related to something else.

maybe a delayed reaction to the new block?

that leads me onto another thought. didnt anyone else go for it?

surely the ministry would've rather given it to a cash rich company, like african oil, that had the capital to quickly progress the licence, instead of a minnow with insufficient funds to progress the licence to drilling.

if no one else went for the licence, what is the likelihood of a farm in?

thoughts?

[xxnjr1] 21/9/2018 19:46

It will be ironic if there's nothing of substance to say, but at the same time PAN may have inadvertently created a false market of expectation in GBP!

[penfold6] 21/9/2018 19:38

'If they weren't halted, Pan would be obliged to make an ASX announcement on Sunday night UK time' - they would just issue the same halt prior to asx market opening on monday.

[emptyend] 21/9/2018 19:14

I'm slightly puzzled by the short period of the halt. Is there a limit on how long companies can halt for on ASX? Unlikely that one can forecast a drilling announcement timing with any precision, IMO.

[penfold6] 21/9/2018 19:14

looks like no one knows, including pcl imo. but they're probably about to hit one of the targets overnight namibia time, so halting makes sense to stop any potential leak.

hopefully its good news next week for all namibia plays.

[jimarilo] 21/9/2018 19:09

Trying to answer a question elsewhere regarding AEC's response today

On the ASX the rules are if there is anything material during a drill they have to collate the info before announcing, which might include testing samples etc

"(a) Pancontinental is seeking the trading halt pending the making of an announcement to the market in relation to the Cormorant-1 well, offshore Namibia and the results of drilling"

This is why I think AEC said they are not aware. While Pan complete the announcement

AEC also want to complete a Namibian deal ahead of the C1 results which is going to be very nip and tuck

They are presenting in Sweden on Monday and Pan want to be trading on Tuesday