Share Name Share Symbol Market Type Share ISIN Share Description
Global Pet. LSE:GBP London Ordinary Share AU000000GBP6 ORD NPV
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +0.00p +0.00% 1.75p 1.50p 2.00p 1.75p 1.75p 1.75p 37,268 07:47:00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Oil & Gas Producers 0.0 -2.8 -1.4 - 3.07

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Date Time Title Posts
14/9/201609:39Global Petroleum5,523
12/7/201613:21GLOBAL PET1,170
04/1/201608:11L2 - Observations, comments and screenshots32
11/3/201416:57GBP/USD Cable Forex15
14/6/201310:59Global Petroleum - Microcap Oil & Gas2,096

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DateSubject
25/9/2016
09:20
Global Pet. Daily Update: Global Pet. is listed in the Oil & Gas Producers sector of the London Stock Exchange with ticker GBP. The last closing price for Global Pet. was 1.75p.
Global Pet. has a 4 week average price of 1.75p and a 12 week average price of 1.72p.
The 1 year high share price is 2.25p while the 1 year low share price is currently 1.38p.
There are currently 175,159,769 shares in issue and the average daily traded volume is 22,894 shares. The market capitalisation of Global Pet. is £3,065,295.96.
21/8/2016
15:37
emptyend: Time for a deal, surely? The 2016 Annual Report is due next month, covering the period to end June. This is what the half-year report in March had to say: We believe that the Company has been vindicated in its strategy of de-emphasising frontier exploration, and of being highly selective regarding the type and quality of the assets which might be potential additions to the Company’s portfolio. The Board first adopted this strategy in mid-2014, prior to the slide in the oil price which has now continued for 18 months. It is our belief that it will be very challenging for the smaller Exploration and Production companies to make progress in a large proportion of the exploration licences which they have acquired, in Africa and elsewhere, over the last few years. The frontier acreage secured is often of variable quality, and many of the companies which hold it do not have the funds to carry out even early-stage exploration operations. Moreover, the larger independents and majors who would normally be expected to farm-in to fund drilling have cut their exploration budgets to significantly lower levels – and when they do return with the impetus of an improvement in the commodity price, they can be expected to be highly selective with regard to exploration opportunities. Whilst it is frustrating that the Company has not yet completed a transformative deal, we would reassure shareholders that we have been very active in discussions with potential counterparties. Our available cash puts us in a very strong position compared to many of our peers, but the ability to raise further funds from conventional market sources is extremely limited. This is a major inhibiting factor in our evaluation of opportunities, which often require further capital either as a component of, or immediately post an acquisition. Many of our peers and some larger companies have little remaining cash and limited access to new finance, and a significant proportion also have debt. This being the case, we expect to have no shortage of potential counterparties with whom to engage. ....I have highlighted in bold the aspect that I think has started to change in the last few months (as evidenced by a number of fund-raisings and strategic deals over the summer). Indeed, there are a number of companies that have seen significant share price rises as access to capital has improved. It is still not "an easy market" for companies to raise funds - but, for the sort of projects that GBP have been targeting, there is significantly more interest from institutions than there was in Q1 2016. If GBP don't do something in the coming months they may just as well wind up. But I am expecting them to do something, at last, before their cash pile depletes much further and they lose all negotiating power.
06/7/2016
06:45
emptyend: Small point.....buying in AUD overnight at 3.5 cents or so is the equivalent of just over 2p, thanks to weak sterling on FX markets. Since the balance sheet is held in USD, current indicative mid share price in sterling (1.5p) is now significantly too low.
29/12/2015
22:50
hugepants: The Peters don't appear to me to be very switched-on. Au contraire! They are doing exactly the wrong thing. If they believe their shares are undervalued (and its well nigh impossible to see how they can't be) they should be buying them back just now, not issuing them at half price to a collection of directors who have presided over such a share price collapse that the shares aren't even being valued at 50% of the value of the cash on the balance sheet. As for the CEO well I doubt he's particularly unhappy seeing the share price continuing to fall in the short-term. It means he'll get even more shares next time.
29/12/2015
22:21
emptyend: .....so from the viewpoint of the Peters, who own c.42%, a falling share price is a lose-lose.
29/12/2015
09:41
emptyend: ........curious to see the share price drifting off with the rest of the market when the terms of any deal for cash seem likely to be getting better and better....
18/10/2015
19:37
hugepants: olieslim is right. Issuing directors shares at 2p in lieu of salary when cash per share is approx 4p makes no sense. That's effectively giving them a pay rise not a pay cut! The only way it makes sense is if the company is preparing to announce a deal that rerates the share price.
17/10/2015
11:29
olieslim: The dim view: The lower the sp, the more shares to replace the cut cash compensation. -It'll hamper newsflow -It'll disencourage director buys It looks like a spread out ongoing placing in slow motion. To save the company cash the directors take shares and the shareholders only dilution. The longer and more undervalued the share is, the more shares for the directors and the more the dilution for the shareholders. Great incentive to do something about the sp? 'Coïncidentally' they actually more than double their 'cut' pay with this period's share price solely compared to the company's cash: Relevant period Share price averaging period ------------------------------ ------------------------------ 1 August 2015 to 31 October 1 August 2015 to 31 October 2015 2015 Maybe the scheme is acceptable if that meant all outstanding and future options were cancelled too? And as there still is no proof of anybody doing anything (except spending money on people thinking out 'cash saving' schemes), the company could do with saving on an entire director salary, or two, three... permanently?
11/9/2015
13:15
emptyend: Yes chinahere....makes sense......BUT ONLY IF they do a deal that moves the share price to at least the value of the cash. What would make no sense whatsoever to the most self-serving of directors would be to fail to so such a deal and let the share price continue to drift lower in relation to cash.I'm not expecting them to suddenly leap into action for the greater good - I'm expecting action because they own over 40% of the company and they will want to realise some value from that.And it must be noted that sitting on and slowly depleting cash has in fact been one of the less bad things to do in recent years, so I don't think that, post the oil price fall, the board can be criticised too much for not doing a deal earlier.That is why I recently quintupled my stake to hold more shares than I have ever had in this company. Granted my previous stake was worth a lot more at 20p+....but I sold the vast majority at those levels....for once.....and I'm happy to buy back those and more after the 92% fall.
26/7/2015
10:53
emptyend: Yes certainly lucky in that regard. Though they were even luckier to sell the vast majority of their shares in FOGL pre-crisis in 2008 to raise AUD24mn+ and then to successfully sue Woodside re Kenya and get another USD 6mn. I also recall the Peters themselves selling some GBP shares at 30p+....They have certainly taken their time since then but, in retrospect, I suspect it will prove well worth the wait if they can turn it into a decent deal near a market "bottom" - even though substantial sums have been frittered away whilst waiting.On the costs point, I'd think cash spend can be cut to well under 0.5p per share/year; indeed I wouldn't be surprised if they took shares instead for the vast majority of comp, given that the share price is less than half the price of cash......for now.
11/6/2014
23:39
p1nkfish: You would think GBP share price would benefit if Iraq goes bad but not holding my breath.
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