Global Petroleum Share Discussion Threads

[jimarilo] 07/2/2018 09:14

Global already on Stellar's website

Global Petroleum Limited ("Global") is offering a select group of companies the opportunity to acquire an interest in PEL 0029, offshore Namibia, by farming-in to the highly prospective Licence. Global has an 85% operated interest in PEL 0029.

[jimarilo] 04/2/2018 12:42

Namibia braced for big finds

[jimarilo] 03/2/2018 12:28

Interestingly Exxon was one of the last super majors to take a position in Brazil and recently signed up to 14 blocks



One of their partners mentioned in the link is Galp, whom they have just signed a deal with in Namibia

If Brazil is anything to go by, Exxon will require are more substantial presence in Namibia, than the current deal they have just signed, two blocks away from GBP's

[joestalin] 03/2/2018 10:06

MORE UP TO COME?

[jimarilo] 02/2/2018 13:12

PMG looking very promising, having had a turn around year

I wonder if TC has deep enough pockets or ambition for a jaunt into Namibia

[jimarilo] 31/1/2018 12:20

Spread 2.2 to 2.204

Tight spread in any market, let alone the AIM

[jimarilo] 31/1/2018 10:21

The main focus here is Namibia and farmout deal or even a buy out

[squibno1] 31/1/2018 10:19

Bit more waiting here -
"As previously reported, various local authorities and interest groups appealed against the Environmental Decrees in relation to d 82 F.R-GP and d 83 F.R-GP. Publication of Environmental Decrees is the final administrative stage before grant of the Permits. The above-mentioned Decrees were published in October 2016 and the appeals against them are expected to be heard by the Latium Administrative Tribunal (Rome) in Q4 2018."

[jimarilo] 26/1/2018 13:25

CEO of CHAR (M/Cap £60m)last December confirming they are in third party discussions(Tullow) regarding a drilling rig for their S prospect due to spud H2 2018

[emptyend] 26/1/2018 10:32

Tullow's M.O. in Uganda suggests that if they drill something up successfully then they'll take out related parties very quickly (and cheaply). Their well will certainly be one to watch.

[jimarilo] 26/1/2018 08:22

You have wonder if Tullow will get involved here. Low cost, high impact exploration, this is exactly what Tullow are about ...as above

The potential could be much greater in Global's prospects, just a stones throw away from their prospect. It wouldn't take much for cash rich Tullow to claim a stake

Global could easily be another JOG, who were trading at pennies before it farmed out 70% to Statoil and kept just 18% and now is over £2

[jimarilo] 24/1/2018 17:44

An interesting couple of snippets from Tullows recent trading up-date

Tullow regards Namibia as an industry hot spot and has follow-up prospects already highlighted

"Finally, the team has been gaining access to highly prospective new acreage in both Côte d'Ivoire and Peru, as detailed below. This provides Tullow with low-cost, high-impact exploration campaigns for the years ahead with established positions in the industry hotspots of Guyana/Suriname and Mauritania/Namibia"

"Tullow plans to drill the Cormorant prospect on the PEL37 licence in Namibia in the second half of 2018 and preparations for drilling are under way. The prospect will target light oil and has a number of similarly-sized follow-up prospects in close proximity. Also in Namibia, Tullow completed a farm-down of the PEL30 licence to ONGC Videsh of 15% in November 2017."

[joestalin] 23/1/2018 17:10

5p to 10p anyone?

I would take 5p. No problem with that.

[yesyesno] 23/1/2018 13:55

It's not a buy or a sell it's a trade.

If it went to those prices I would be very happy indeed.

[jimarilo] 23/1/2018 13:34

The 280K is a buy, shown as a sell

[jimarilo] 23/1/2018 13:20

There is to much potential in the ground for there not to be a deal being made

Two wells will be spud in the 2 half of this year, which if successful will set this share alight, whether we have a deal or not

I am happy to hold until then without a deal, but if one comes along so be it

Could be a farm out or a buy out, 5p to 10p anyone ?

[yesyesno] 23/1/2018 12:50

They've done the bare minimum with the most expensive to drag out as long as they can. The must have been whole periods of many months when none of those being paid did anything at all yet they still got paid and got shares.

I've had shares here for years, they owe me nothing as I've traded my position which is what I do with all my stocks. I would love them to deliver but I can't see anything happening here on the evidence. Most likely they'll agree a 50% farm-in with another company where the Peters have control and then try and raise money from the existing shareholders to draw it out for another 5 years.

[joestalin] 23/1/2018 11:04

They had $20M a few years ago and have almost nothing to show for the $15M spent.

Does the discount to cash value mean that the directors are accepted by the market as being a bunch of trough diners?

[hugepants] 23/1/2018 11:00

12% chance of success is pretty rubbish to be honest. In all probability it's going to be less than that. They'll struggle to farm-out on decent terms.

They probably have about $5M left now, still looking to do a deal, and no doubt bragging about how much better off than they are then their peers.
What can they do with $5M? They had $20M a few years ago and have almost nothing to show for the $15M spent.

[neo26] 21/1/2018 15:18

I think cos will get closer to 20% once 3d is done..But they need partner for that...

[jimarilo] 21/1/2018 12:49

I did say apparently, that's what I have heard and that they are both using the same rig

The Chariot website just states 2H 2018 currently.



Confirmation below of Tullow drilling by 1st September with further details

[caters] 21/1/2018 12:20

Jimarilo,

How do you know that Chariot are drilling first as no farmin has been announced by CHAR (as far as I am aware)?

(Chariot's recent RNS does state, for Namibia, "The partnering process has been initiated and drilling preparations are underway.")

Cheers