Global Petroleum Share Discussion Threads

[jimarilo] 07/5/2018 16:05

Agreed, you would think a take out would make more sense for a major

3.66bln bbls mid case estimate, the Italian assets thrown in, with some cash for a discounted £20m/10p

[yasrub] 07/5/2018 14:03

Oil price still steaming ahead, with such limited explo in recent years - just perhaps the timing of this farm out will be spot on - crucial if more than one interested. Majors would surely just take out GBP - does not seem to make sense of a small % free carry ?

[jimarilo] 04/5/2018 09:36

In fact just tried a dummy trade to sell and could sell online up to 250k @ 1.91p

Yesterday couldn't sell 1k online

I would imagine they are looking for stock

[winnet] 04/5/2018 09:28

yeah, i agree, I'm not buying more, but am bullish from there levels. There is absolutely no sellers below 2p to speak of. That I can see anyway...

[jimarilo] 04/5/2018 09:25

I disagree, look at the chart

We have been trending up the last few weeks, yesterday closed at the open price

GBP on the ASX also closing up the last few weeks, including the last two days

[fillipe] 04/5/2018 09:03

Looks like another drift-down day in the life of a GBP share....again.

f

[jimarilo] 03/5/2018 16:54

Interesting day,

It is easier to read the buys and sells with GBP. Looking at ADVFN trades these all look clear buys, wouldn't say they were rollovers either

03/05/2018 08:38:40 2.0 250,000

03/05/2018 08:43:39 2.1 238,095

03/05/2018 09:10:04 2.2 250,000

03/05/2018 12:25:16 2.1 238,095

All open to interpretation of course and one shouldn't jump the gun.... etc

But interesting in any case

[emptyend] 03/5/2018 12:50

No major will farm into anything for less than an operated position of over 40% (probably 50%+). Char are dreaming if they ever thought a major would take 20-30%.

[emptyend] 03/5/2018 12:47

You have to look at why the CoS is technically at that level. Much of it is due to no proven source being nearby..........but if source exists it immediately derisks not only Gemsbok but everything else on the licence - so the first well would carry such a massive upside potential that would still make it pretty attractive to drill.

[jimarilo] 03/5/2018 12:44

Char looking to go with smaller companies for the farm out, looks like majors are giving them a swerve

Main reason I can see is Char only want to give up 20-30% and only hold 65%

Majors need scale and at least 40%, as with Exxon and the Galp deal

GBP has 85% to play with so might be a better fit for a major

Looking good in anycase

[gaddy88] 03/5/2018 12:28

Actually ignore that, I literally couldn't care.

[jimarilo] 03/5/2018 12:27

Exactly ee ;-)

[gaddy88] 03/5/2018 12:27

You've changed your tune! How much did you lose...

[neo26] 03/5/2018 12:10

Huff and puff, oh the baloon has popped. Someone bought cheap balloons, maybe next time it will go higher.Cos of 11% and they expect to get partner, i dont think so...

[emptyend] 03/5/2018 11:32

Re the comparison with BPC, BPC closed yesterday with a market cap about 7-8x the size of GBP's. And their shares are up 125% today.......so now 18x the size of GBP's market cap.......if the assets there were not considered "lower risk" or "better" than GBP's it would be quite a surprise..... ;-)

[fillipe] 03/5/2018 11:25

Seems to be a rise for no apparent reason and brought about by not that much vol.

The recent sale of 64958 shares only drew 2.075p, even though the bid/ask bests showing are 2.20p v 2.40p - however, the mm's are only showing in 25k lots.

gla, whatever,

f

[neo26] 03/5/2018 10:26

Jimmy Happy, sell on the rise.Go and read bahamas petroleum cpr and then compare.They have much better acreage and higher cos to strike.Nice to see this rise but it will be short-lived.Imho

[gaddy88] 03/5/2018 10:00

Nice to see a wee push on so far today. Some important RNS's have landed on Fridays.24/11/17 - Namibia Licence Extension. 19/01/18 - Structured Farm Out Commenced.

[winnet] 03/5/2018 09:23

Whats going on with all this buying? Maybe news could be closer than we anticipate? Just wish I could of topped up on the lows!

[jimarilo] 03/5/2018 08:10

Nice rns from BPC this morning, something similar wouldn't go a miss

Fingers crossed

[jimarilo] 02/5/2018 11:51

CHAR Conference Call Note this morning: We are in current negotiations in regards to a farm out of the Namibian block.

All going on in the back ground and no need to rns until an outcome, I guess

Also from the conference call:

advised again that the previous raise opens up the prospect of farming out to non operators.

Larry:
"we will be spudding Namibia middle of October"

[joestalin] 02/5/2018 10:49

Its chickenfeed ;-)"

This is getting very corny. Hopefully, we will all have something to chew on before too long!

[jimarilo] 02/5/2018 08:58

Africa E&P summit 23rd-24th May in London

All the main players presenting, including Stellar Energy Advisors

Page 5 Africa Petroleum Club Namibian Showcase Reception



GBP will be receiving some attention at the above summit this month, should be interesting

[jimarilo] 01/5/2018 21:36

"...not really, Joe. Its chickenfeed ;-)"

Doh !

[jimarilo] 01/5/2018 21:33

Agreed, we are not about to spud a well or are we in possession of 3D seismic, but still food for thought

This was Char's thoughts on the same deal

"This was from Char who's prospect "S" potential is 300mmbls* net with Potential upside 1.4Bnbbls*

"AEC paid Pancontinental (Tullows Partner) US$7.7m for a 10% share in PEL 37, Cormorant will be free carried by Tullow so assuming the drill will cost US$35m AEC would have valued the license at US$42m. ((7.7-3.5)*10)



Partnering process on our Central Blocks is ongoing, as from our latest presentation:
"Firm drilling commitment gives commercial advantage in ongoing partnering discussions" - I guess that is what AEC motivated to farm in to PCL Blocks - a firm drilling commitment - our assets in Namibia should be valued higher than Pancontinentals so I take the above deal as the Minimum Result we are likely going to achieve when farming out some of our 65% owned Blocks offshore Namibia. Apart from greater prospects and much higher Chance of Success we also have acquired double the amount of 3D seismic over our license, worth US$39.65m nowadays (6,100km² of 3D seismic * US$6,500/km² of current acquisition cost).

Chariot estimates drilling costs for "S" to be less than US$25m - so less than US$16m net to Chariot at 65% share of costs - assuming Chariot will farmout 25% their remaing share of costs would be lowered to US$10m. If potential partners we farm out to value our license at the same rate AEC valued PCLs then 25% would be worth US$10.5m (42*0.25) and cover our share of costs. My guess is we will farmout 20% to 30% for US$10m to US$20m to two or three minority partners. In any case a firm drilling commitment, news of securing a rig, farmout news and anticipation of the 4Q18 drill should have a great impact on shareprice over the next couple of months..."