Global Petroleum Share Discussion Threads

[jimarilo] 20/4/2018 14:20

They didn't hold on to those shares very long. The 269k was bought on the 13th @ 1.85p. Maybe they hadn't paid for them (T10) ;-)

[jimarilo] 20/4/2018 08:24

Quarterly report due end of next week

If no news before then, may get an update on the farm out process

[jimarilo] 19/4/2018 08:12

A side story from ECO's rns this morning

They have applied for drilling permits in Namibia. (Their intention is to drill in 2019, a year earlier than originally planned)

In Namibia, the Company holds interests in four offshore petroleum licences totaling approximately 25,000 km(2) with over 2.3 billion barrels of prospective P50 resources in the Walvis and Lüderitz Basins. These four licences, Cooper, Guy, Sharon and Tamar are being developed alongside partners, which include Tullow Oil, AziNam and NAMCOR. Drilling activity in Namibia is set to gather pace in 2018 and 2019, with a few wells confirmed to be spud on Tullow PEL 037 and Chariot Central Blocks. The Company has applied for drilling permits on its Cooper (Operator) and Guy blocks

[jimarilo] 18/4/2018 15:38

Char's Rabat well will be nearing completion maybe next week

Then focus will be on Namibia. They are still to announce a farm out deal and the signing of a rig

If Tullow and/or Char hit pay, it would significantly derisk Gemsbok and surrounding prospects. Therefore would expect some upside here, whether we had farmed out by then or not

As has been said before, a potential farmee will expect to pay a premium if a deal had not been agreed before Tullow spud

I feel there is more downside protection as the clock ticks on

[winnet] 18/4/2018 08:37

I don't think you can compare BLVN's Etinde deal to current GBP farm out, unless I am mistaken this is pure explo.

-------

Yes obviously, different stages of reserves. I was just making a comments regarding some of the other deal that have been done and the potential here.

[jimarilo] 17/4/2018 08:39

GBP are in the Walvis basin north of SQZ who are in the Luderitz Basin

Walvis seems to be where all the recent activity is and more importantly where Tullows cormorant well is to be spud September

[sawney] 17/4/2018 08:02

BP thought nothing of paying $50mln to Serica only to walk away

..all that 3D seismic and still no one has shown an interest since...

..but then in the meantime, SQZ management have got deals done.

[jimarilo] 16/4/2018 22:55

"Global said on Friday(19/1/2018)that the farm-out process would shortly begin with the intention of future work on the blocks being financed by a farminee"

I imagine they are looking to be free carried all the way to meet their licence commitments, which includes the drilling of one well



If a farm out deal is found, a small fund raise on the back of it, for working capital would be a walk in the park imho. If required

bwtfdik

[jimarilo] 16/4/2018 21:32

Between July 2017 and January there have been 5 farm outs announced offshore Namibia:

July 2017: ONGC with Tullow

September 2017: AEC with PCL

October 2017: Total with Impact

November 2017: ONGC with Tullow

January 2018: ExxonMobil with Galp Energia

[yasrub] 16/4/2018 16:28

I don't think you can compare BLVN's Etinde deal to current GBP farm out, unless I am mistaken this is pure explo.

[jimarilo] 16/4/2018 16:09

I hope the Peters have greater expectations

Indeed, when you think, BP thought nothing of paying $50mln to Serica only to walk away



Time will tell

[winnet] 16/4/2018 15:33

7-8p would be about 7 million. I am pretty sure the Peters have not gone through all this for a couple of million each. Have they?

A full sale would have be closer to £20 million based on peer groups deals. Hell, Lukoil paid Bowleven much more for assets which are half the size. Albeit much closer to production.

[emptyend] 16/4/2018 12:04

One can debate it all day, but the reality is that if a substantial company wants the assets, 1p-2p per share is neither here nor there. The basic question is whether anyone is sufficiently interested in the assets. A company in Tullow's position would have as good an idea of that as anyone.We won't get to find out until after the Peters have agreed a deal (and irrevocably committed) whether that is a farm-out and carry or a whole company deal.My expectation is more like 7-8p.....but if there is competition then who knows?

[jimarilo] 15/4/2018 21:56

I wonder what the BoD would need to give up their 40%, they may be looking for a bigger prize

Anywhere between 12p and 15p for me

[ssrover] 15/4/2018 12:35

o/t PANR will bounce hard tomm from its oversold position. Broker upgrade also in the FT yesterday .

[joestalin] 15/4/2018 11:17

I'd take it!

[jimarilo] 15/4/2018 06:22

Of course a much cheaper option than the one above, would be for a major or mid-cap to take GBP out completely

As well as the Namibian prospects the Italian acreage is also highly prospective and a welcome addition in any portfolio

Even if the discount window is open, 10p/share (£20mln) would be bottom line imo considering the potential and cash position

10p anyone or more ?

[jimarilo] 13/4/2018 08:25

When the CPR came out 15th of Jan we had over 27 million shares traded, in 447 trades, which propelled the share price to 4.55p

Doesn't seem possible we could get that sort of attention. However a farm out deal could improve on that performance and sustain a rise imho

Not many shares required to set the ball rolling currently, all helped of course with the small free float

Date 15-01-2018

Trades 477

Volume 27,234,316

Trade min 633

Trade max 500,000

Price min 2.8

Price max 4.55

[jimarilo] 12/4/2018 11:15

Here is an Eco Atlantic presentation, which includes their Namibian prospects, which are very close to GBP's. Gives an idea of volumes expected within the area

[jimarilo] 07/4/2018 01:11

Wood Mackenzie has indicated hard competition for prime exploration targets as sector emerges from downturn in 2018

The most-favoured plays are set to be deepwater sweet spots promising high resource density, rapid commercialisation and breakeven prices below US$50 per bbl. Most of the best of these are around the Atlantic margins. Basins are a mix of the proven such as Guyana, Mauritania and the US Gulf of Mexico, with unproven frontiers being Nova Scotia, South Africa and Namibia.

[the_boy_plunger] 06/4/2018 14:14

cant be a bad role being a director........must be busy beavering or a happy idle?!
market just needs a (lucky) sniff/break to see 2.5-3s

[jimarilo] 05/4/2018 23:14

Not making a lot of sense, can you elaborate ?

[yesyesno] 05/4/2018 22:58

Mmmm.... money is tight the Bod decide to spend it on yet another thing that doesn't bring in any income without further investment. The same old story I'm afraid.