Global Petroleum Share Discussion Threads

[emptyend] 19/6/2018 16:31

....hence the reduction.....

[jimarilo] 19/6/2018 11:15

Agreed, but tullow success should increase cos

[emptyend] 19/6/2018 09:37

To be honest I think they would still be discounted even after a Cormorant success - but the extent of the discount would be substantially reduced. The timing just comes down to judgements of risk vs return. Many majors are (excessively?) risk averse, so they may prefer to wait for the drilling options afforded by GBP acreage to become more expensive - even though I don't think that they should do so (if they considered their portfolio balance rationally).

[jimarilo] 19/6/2018 07:54

Obviously there is wider appeal than I first thought for African assets. Namibia currently will be highly discounted to elsewhere in Africa, as it is frontier, but has high impact potential

If Tullow who are said to be in a sweet spot connect with source in PEL37 Namibian assets will no longer be highly discounted, therefore deals need to be completed ahead of the Cormorant spud ;-)

[jimarilo] 19/6/2018 07:25

Russian, Chinese and Indian battle of the titans over Oranto....(who's Namibian blocks are adjoining GBP's PEL29)

Having become a master in the art of buying prospective blocks and never developing them, Nigerian magnate Prince Arthur Eze has received several Asian offers for his firm Oranto's permits. As Africa Energy Intelligence understands, Indian firms Bharat (private) and [...]



This is out this morning, unfortunately you have to buy the article to read it

However it looks encouraging as they all start to snap at Oranto for their permits, Rosneft already been looking over Oranto, but look to have some competition

[jimarilo] 18/6/2018 21:21

Seems a bit harsh 120k sell @ 1.7125p for the last trade of the day

[joestalin] 18/6/2018 17:02

Just filter them - it works wonders.

[yesyesno] 18/6/2018 13:46

That's me out of ADVFN, can't be doing with this click this rubbish.

Happy investing everyone, I'll find chat elsewhere.

[jimarilo] 18/6/2018 13:29

ADVFN give these clowns 10% if anyone clicks on their link, hence they are all over ADVFN BBs like a bad suit

[american idiot] 18/6/2018 11:14

Free 100 Plus1 coins for you for clicking this ADVFN link :-

[emptyend] 17/6/2018 20:23

I agree with both of you on those points.As to how much people have, the free float is only around 110mn shares.....and I'd guess at least 30mn is in Australia.

[jimarilo] 17/6/2018 16:38

The Peters could easily with CPR in hand and market sentiment, gone to the market and raised funding to commission a 3D seismic survey. If there is no deal, this is what they will have to do in any case

Instead, as we know they committed themselves to a structured farm out process

Which, makes me think the Peters had a show of interest and knocks at the door, that lead them directly to the farm out process. Even I had an email from Stellar some months ago confirming there is an appetite for deals in Namibia.

Of course timing will have been crucial, hence from CPR and directly into the process. They know that the Cormorant well has created a huge amount of industry interest, shown by many deals having already been struck

I don't think they went in blind and knew the potential heading into the process. However completing a deal is another matter and time will tell

I wonder what sort of interest PI's have here, between 1-2mln shares or more ?

[yasrub] 17/6/2018 16:02

Afternoon EE it is possible no deal will occur, but based on current interest from majors in the area, the recent encouraging CPR and the profile of the major stakeholders I think it is fair to conclude a deal is likely. Time horizons are always difficult to call but to my mind between 0-3 months from now is realistic to expect at least an update so happy to hold and let it play out.

[emptyend] 17/6/2018 15:45

....have to agree with that - though it is the sort of rationale that I used when buying back in again. And that was about 5 years ago, prior to my recent doubling-up. There are worse gambles though.....

[yasrub] 17/6/2018 14:29

The calculation of current m/cap, and real cash on the B/S is what attracted me to this situation. The market has the habit to overreact in both ways - currently a shrug of the shoulders. It has been said quite a few times on this thread - IF a deal is struck it seems reasonable to assume that it will equate to a multiple of the current share price Due to not knowing how or when a deal might be struck I doubt there will be much of an opportunity to get in cheap. I would prefer a complete take out but this will be decided by the Peters and any potential interested party.

[alexios1201] 17/6/2018 10:06

GBP CashCash balances at 31 December 2017 amounted to US$6,080,861Current Cash position should be around $5M taking the running costs into considerationCurrent Mcap is £4MCash £3.77MListing on AIM is worth £250-500kNo asset value added to the current share price of 2p

[jimarilo] 15/6/2018 22:14

Agreed, that's what matters at the end of the day

Certainly there must be interest or we would have known by now. Having started a structured process means those interested will have followed a procedure as per Stellar's format, which under typical circumstances would be near or at it's conclusion by now

Obviously if we have interest at this point, it is all about agreeing terms and drawing things to a close

Of course, with luck there could be more than one party involved

Time will tell, but feels positive so far (company still remaining tight lipped and not responding to emails currently, which is understandable in the circumstances)

[emptyend] 15/6/2018 18:14

...of course at this point their opinion doesn't matter one iota. The only thing that matters is what others think......and we should find that out over summer.....

[jimarilo] 15/6/2018 16:26

Yes I looked at the prospects in their blocks as well, all very impressive.

Shame they had so many problems with their well, rig and a delayed start. Even had to re-spud, I think Repsol sunk $95m into that well and then the licence run out

Of course it's a changed world currently with the Poseidon costing $139/day as apposed to $650/ day back then

You would have to think that Gemsbok could be a significant part of an exploration /production hub

As the Peters say PEL29 is one of the best prospects in Namibia in their opinion

[neo26] 15/6/2018 15:51

JimariloGot another stock which is very similar to gbp in terms of being very cheap. Rose, mkt cap only 5m, over 1bn barrels of oil in place and high COS for wells. Cpr is slightly late, should hopefully be out next week or early next.Assets in USA.Recently bought more of the acreage and did 3d on parts of the license.Did "blind tests" on 3 wells which were drilled by previous operators, all came on pragnosis with the data rose has. Extremely positive..You heard it from me first...

[emptyend] 15/6/2018 14:19

I just ran across an old TRP presentation which included Namibia. Their largest prospect, Delta, was immediately east of the block boundary in 2011A....in fact it looks as it is mapped to overlap with Gemsbok. The second-largest prospect, Gamma, is due north of Gemsbok and starts at the corner of GBP's block.....the point here being that there are probably deals to be done as well as significant derisking if oil source is proven in the area by drilling......and they might as well start with the largest structure - which appears to be Gemsbok.

[jimarilo] 15/6/2018 08:16

Up another 6% on the ASX

(and it's Friday today, not yesterday;-))

[jimarilo] 14/6/2018 15:23

SQU, am sure we are all aware

The farm out will allow us to move forward and have a share in multi billion barrel prospects, news of which will move the share price on some what from where we are currently

Some here, including myself, think a buy out maybe the out come, in which case we could be looking at an share price around 8-10p

[football] 14/6/2018 13:55

Yep all six PlusOneCoin are working again and five 5 coins per click

















Strange ring the fourth one in the list the one below paid out twice

[squibno1] 14/6/2018 11:23

GBP need a farm out to even pay for 3d seismics. That takes time before all the time it also takes to plan and organise a drill even if the farm out deal covers 3d and drilling.