Global Petroleum Share Discussion Threads

[emptyend] 05/1/2018 15:27

So....suppose you were a large or even major oil company, active in the Adriatic adjacent to Global's not-quite-permitted-yet acreage there - and with an interest in any deepsea Namibian prospects that are close to drill-ready and could hold 1bn bbls.What would you pay for the options that GBP hold in those areas? £10mn? £20mn? £4.8mn?

[aimshares] 05/1/2018 14:58

Next week is going to be a cracking week for the share price if CPR comes

[caters] 05/1/2018 14:38

I've been buying today.

Tiny Mcap v. Massive Potential

85% of a very large prospect offshore Namibia - an area that's getting popular again.

I also hold Eco and Char.

[aimshares] 05/1/2018 13:06

Namibia Economist18th October 2017GLOBAL JUMPS OUT OF THE WATER AS GEMSBOK SURVEY IMPROVES CHANCES FOR MAJOR OIL DISCOVERY.Ten years and six months after the first assessment of existing 2D proprietory data for two offshore oilblocks, 1910B and 2010A, the current operator this week announced it has finalised the processing and interpretation of a new 2D seismic survey completed earlier this year. It is now looking for funding partners to start a more detailed 3D survey.Global Petroleum Limited, an Australian Securities Exchange listed upstream oil explorer operates in Namibian waters under Petroleum Exploration Licence, PEL 0029 covering the two indicated blocks. Its exploration focus is in the south-eastern section of the blocks known as the Gemsbok prospect. It is located at a total depth of around 3,000 metres in water depths of approximately 1,400 metres.The new survey comprising 834 km of full-fold 2D seismic data, was carried out by Seabird Exploration of Norway, and shooting took only 10 days, completing on 03 July 2017. The total cost of the acquisition is approximately US$740,000, excluding processing.Global Petroleum's interest in Namibian offshore oil exploration started in 2011 shortly after the appointment of London-based Managing Director and Chief Executive, Peter Hill. Nineteen days after he assumed office, the company announced its first new 2D seismic survey. The survey was done by TGS NOPEC."The new seismic survey will be shot using a longer cable than the old surveys and will be of higher resolution. As well as better delineating the two structural leads and clarifying the extent of the stratigraphic plays, the new survey will provide data in areas currently lacking seismic coverage" Global Petroleum stated on 19 September 2011.In the meantime the company acquired Jupiter Petroleum, the link which gave it access to a 85% interest in the exploration licence. Global Petroleum hoped then to start a 3D survey before the end of 2011 but it never materialised.In 2013 and 2014 oil exploration struggled despite Brazil's HRT establishing beyond all doubt the presence of major source rock in May 2013 with their Wingat well. Global Petroleum had to extend their exploration licence twice. At that point, Global awarded a mandate to FirstEnergy Capital LLP to bring in a partner to fund the next phase of planned exploration. Their petroleum exploration licence was extended to the end of 2016 but the company did not publish any updates during that year.On 08 June this year, Global Petroleum surprised the offshore industry when it announced its intention to commission another 2D survey, stating that a new survey was required to fill in the gaps in the existing data."The survey has been designed as an infill programme with the aim of providing better delineation of an extremely large, multi-level, dip closed prospect – Gemsbok -which has been mapped in the south eastern portion of the Global acreage" the company stated in its regular updates published for the Australian Securities Exchange."Global Petroleum's technical team is both intrigued and highly encouraged by its recent work which has confirmed the Gemsbok prospect, a structural closure extending over 200 square kms. It is unusual to identify such a large, robust structure at prospective depths which does not rely on stratigraphic trapping" it stated.On Wednesday, Global Petroleum stated "Management believes that the new information has significantly improved the prospectivity across block PEL 0029 in general and the Gemsbok prospect in particular. Better imaging from the new 2D data reveals that the known source rock intervals are likely to be within the oil generative window and this, combined with data showing repeating oil seeps along the faulted flanks of Gemsbok, has greatly improved the chance of a major oil discovery. Gemsbok remains the Company's primary exploration target."https://economist.com.na/29483/mining-energy/global-jumps-out-of-the-water-as-gemsbok-survey-improves-chances-for-major-oil-discovery/

[winnet] 04/1/2018 17:00

hardly the end of the world. It'll come.

[neo26] 29/12/2017 17:56

No cpr as promised by year end..

[yasrub] 21/12/2017 16:29

Interesting my cheap online broker seems to be only letting a buy of 10,000 shares at 2.5p - seem to be short of stock at this level.

[winnet] 21/12/2017 09:39

They have committed to 3D and a drill under terms of their license extension. I wonder what the farm in terms will be? How much can we keep and for how long?

[squibno1] 21/12/2017 09:34

Bloomberg newsflash - Energy sector to be the 2018 star.
Bring on the CPR then a Farm in partner and get this show on the road.

[yasrub] 20/12/2017 21:02

Interesting to see if sentiment has changed enough to bring some out of the woodwork if Gemsbok does look such a prospect. I'm sure those with greater knowledge in the sector will know if this could be a real catalyst. Looking at the Mcap GBP is like a scratch on the surface but has enough funding to tick over.

[emptyend] 20/12/2017 15:46

Accordingly, the three leads previously identified were upgraded to prospect status as a consequence of the perceived reduction in risk. Of these, Global believes that the Gemsbok structure is currently the most significant exploration opportunity. Gemsbok is mapped as a 200 sq km structurally controlled dip closure adjacent to a deep syn-rift graben. The feature has closure at several levels from the Lower Cretaceous to the Tertiary and the proximity to the mapped graben means that it is also well placed on the hydrocarbon migration pathway. Clearly this is a very exciting development for Global - the direct analogue to Gemsbok is the multi-billion barrel, sub salt, syn-rift play of Southern Angola. Despite recent encouragement from exploration further south offshore Namibia, the syn-rift remains relatively under-explored and we believe Gemsbok is ideally located for a syn-rift test.......so.......with the CPR "due this year", we're less than a couple of weeks from an RNS. Anyone care to guess what they think this 200 sq km prospect might contain? They are pretty sure it is oil, following the new 2D and the oil seeps. Structural closure at several levels? 1bn bbls? 1.5?And what would that be worth to a farminee?

[winnet] 20/12/2017 13:01

I'm in for the CPR chaps. Lets hope its a blinder and then they flog the company or get a sweet JV deal with a major. Finger crossed. Now is the time for Hill to do what we pay him for.

[emptyend] 08/12/2017 13:31

Yes.....The Company has commissioned a Competent Persons Report ("CPR") in respect of its Namibian acreage from the consultants AGR Tracs, which is expected to be completed by the end of the year. A CPR is an independent technical report on oil and gas assets. It is then the intention of the Company to launch a structured farm-out process of its Namibian acreage with a view to seeking a partner to fund future operations on the block, commencing with the 3D seismic project......and not many days left before the end of the year. In fact most companies will probably be looking at next week instead of leaving important news to the week before Christmas or the days before New Year.Launching the structured farm-out is likely be an interesting process....its often surprising who pops up on these things.....

[squibno1] 08/12/2017 12:02

Could interest be reawakened ahead of CPR?

[emptyend] 16/11/2017 21:59

You make a good point about the pricing of the options relative to cash but, on the other hand, there are commitments. Value will only be added if a deal can be done in either/both Namibia and Italy.With respect, 2013 was a very different world for exploration companies.Put another way, if the share price doubles from here then the total value from 5 years of options would be just over £100k pre-tax......or 4 months salary. That is not huge. In fact, arguably, it might be better to half the salary and award 3x as many options......of course, if the share price zooms to 10p then he would have 12mn options in the money.......and that would be "more like it".

[hugepants] 16/11/2017 19:32

Well this chap has presided over a near total destruction of the share price. Check out the original price of his options below. They were subsequently rebased since they soon became hopelessly out of the money. Since he has taken the helm the company has achieved pretty much nothing except burn through most of their cash. It's really comical he's been given another 6 million options priced well below cash value.


Cancelled options P Hill:
i. 1,500,000 incentive options exercisable at AU$0.25 each on or before 1 April 2017, vesting on 16 December 2013;
ii. 1,750,000 incentive options exercisable at AU$0.30 each on or before 1 October 2017, vesting on 16 December 2013;
iii. 1,750,000 incentive options exercisable at AU$0.35 each on or before 1 April 2018, vesting on 16 December 2013;
iv. 1,000,000 incentive options exercisable at AU$0.45 each on or before 1 October 2018, vesting on 16 December 2013;


Re-granted options P Hill: i. 3,000,000 incentive options exercisable at AU$0.065 each on or before 23 December 2019, vesting on 27 November 2014
ii. 3,000,000 incentive options exercisable at AU$0.065 each on or before 23 December 2019, vesting on 23 June 2015

[emptyend] 16/11/2017 16:55

.....of course, when you say "6 million more" options, it should be noted that the only other options he has are another 6mn options that are exercisable at about 3.75p - and are only worth anything if the share price gets above that level in the next two years.........so it isn't going to be a fortune - at least by comparison with his rather generous salary!

[emptyend] 16/11/2017 16:40

....so at least he can now do something to get deals done and the share price up........ The Peters must be getting pretty frustrated - but, for some reason, not so frustrated as to fire him.

[hugepants] 16/11/2017 15:33

6 million more stock options for Hill exercisable at 1.85p.

This is not a wind-up.

[emptyend] 10/11/2017 15:15

....quite a lumpy buy for a Friday afternoon........?

[emptyend] 02/11/2017 15:03

Significant that there seems to be a solid bid for some decent-sized clips? There haven't been many days when 0.5mn parcels have changed hands.....

[bullet ant] 18/10/2017 11:21

Filter the sharia man guy.



mally618 Oct '17 - 10:53 - 5655 of 5661 0 0 (Filtered)

mally618 Oct '17 - 10:58 - 5656 of 5661 0 0 (Filtered)

mally618 Oct '17 - 10:59 - 5657 of 5661 0 0 (Filtered)

[mally6] 18/10/2017 11:13

Gamemaster r u frustrated have a holiday