Global Petroleum Share Discussion Threads

[yasrub] 17/1/2018 12:11

GBP seems to be valued at loose change <£5m - if someone is interested why would they farm in and not just take the company out ?

[the_boy_plunger] 17/1/2018 10:55

Price (GBX) 2.45 Var % (+/-) -3.92% (Down -0.10)
High 3.00 Low 2.30
Volume 758,141 Last close 2.55 on 16-Jan-2018
Bid 2.40 Offer 2.50


....sadly no one can be sure the exact prices, as LSE now hide them?!

LOL

currently only quoting small circa 500 sovs (buy) deals, could change?!

[neo26] 16/1/2018 10:10

A sustainable rerate will come..

[the_boy_plunger] 16/1/2018 09:59

LSE says LO today 2.5p?!

Price (GBX) 2.80 Var % (+/-) +6.87% (Up +0.18)

..........be nice if they could bring back real accurate pricing?!

as we are moving into the future, so why has market pricing technology gone in reverse since 2007 crash?!


r we there yet?!

[neo26] 16/1/2018 08:59

Yes, we are blue..

[caters] 15/1/2018 20:19

EE ... a very helpful post. Thank you for taking the time.

[emptyend] 15/1/2018 19:20

When the CPR is published, it will be useful to ask a few "what if" questions on the risking - and on the implications for adjacent prospects (and, indeed, the secondary objectives at Gemsbok) if a well were to come in.I understand that the nearest proven source is 100km away but, in a lightly-drilled area like this basin, that isn't too surprising. If you were to assume (for arguments sake) that source is present, the CoS would double to 24.6%. There is, of course, no evidence one way or the other right now......but if source is there then it would ALSO derisk other prospects in the vicinity.....so the source risk seems even more key for potential upside of the plays in the area than it is for the structure itself.Similarly, the other key risk is reservoir. Completely unknown at present until drilled....but carbonate reservoirs are important elsewhere in Africa so it seems a fair bet that reservoir quality would be good enough.Seal seems not to be a major risk, with good shale seals in other wells and neither does trap, because the structure looks very robust on the 2D (though 3D may show more complexity).So I'd say source is the main risk - but, if present, there could be really substantial upside, well beyond the volumetrics of the structure itself. And IIRC, there are seeps in the area, which at least suggest a source somewhere.As wildcats go, it seems to have very attractive upside characteristics.

[neo26] 15/1/2018 16:58

Unbelievable all the gains vanished, this is cheap stock.

[ohisay] 15/1/2018 16:38

lack of progress over the last two years has been difficult for everyone in the sector.
1.Thats simply not true.
2.You were the one quite rightly who was emphasing the value of conserving cash since 2014 but they simply havent done that - they've paid themselves handsomely in all the bad times.If I was running the business I wouldnt have done that and neither would you dare I say .
3.I expected so much better of these experienced OG guys with such a good pedigree - didnt you ?

[soulsauce] 15/1/2018 16:29

Question is ohisay is whether they will find a farm-in partner to do 3D. I would suggest a farm in partner may not be bothered until there is some 3D done, kind of chicken and egg.

[emptyend] 15/1/2018 16:28

On the patience point, it might not require as much patience as one might think, IMO. I would think a farmout process could be running by the end of the month and be finished by May. Furthermore, I'm a bit surprised they hadn't lined it up already - so that begs the question as to why. Wondering whether there is some sort of deal possible that could pre-empt the initialisation of the farmout?

[jimarilo] 15/1/2018 16:23

Patience required, well worth a punt Imo

Glad to be back in

[emptyend] 15/1/2018 16:01

Probably not, in fact.....but lack of progress over the last two years has been difficult for everyone in the sector.

[neo26] 15/1/2018 15:20

This is unbelievable 25m shares traded and we are red.

[emptyend] 15/1/2018 15:15

Re your rhetorical question, the answer is that even if they had done the 3D at that time everyone was cutting back so hard 2 years ago they wouldn't have got anything done (and would have burned the cash). Different situation now, I think - especially if the macro situation keeps improving.I understand that the next announcement is likely to be the launch of the farm-out process.

[ohisay] 15/1/2018 15:11

Sometimes you have to let the pumpy dumpers free rein to spout their nonsense and make some money on the basis of that - as I did this morning selling 25% of my holding at 3.85p.
I notice nobody has tried to do a risked valuation of that CPR .So for my sins I will do it - I get 8p to 9p as possible fair value including cash.The game changer would be someone farming in for a 3D over their Namibia licence which is of course what the BOD are hoping for .Question is why didn't they do it themselves 2 years ago when they had the cash to do it.Thats a rhetorical question of course....

[puffintickler] 15/1/2018 12:38

glenkaz

no-one forced you to buy, if you lost money it it is all your own work. Just put it down to experience, learn a lesson or two and move on.

[saw89] 15/1/2018 11:22

Looks like a seller holding this back . Hmm

[winnet] 15/1/2018 10:54

some interesting new posters entertaining us today!

[miahkaysor] 15/1/2018 10:53

Told you guys will move up! Just have to be patient.4p close!Nai