Global Petroleum Share Discussion Threads

[jimarilo] 25/4/2019 17:26

Good write up

Bottom line:

Smaller explorers have drawn a blank so far, but renewed interest from ExxonMobil and Total, plus a favourable price outlook, suggest that Namibia’s time may finally be approaching.



Mentions "Eco Atlantic plans to start drilling between the third quarter of this year and the first quarter of 2020" Adjacent to our PEL94

[jimarilo] 25/4/2019 13:28

Quarterlies report due tomorrow or Monday

[investoroilandgas] 25/4/2019 09:09

Exxon clearly thinks that there is value in Namibian offshore licences and yet the market attributes virtually zero value to Global Petroleum's Namibian licences.

Patience is the key here.

GLA

[jimarilo] 25/4/2019 09:06

ExxonMobil adds to its Namibia offshore exploration acreage



Agreed, I don't see the current low share price as sustainable, due to value being attached to Namibian assets currently

Online bid up to 1.611p

[squibno1] 25/4/2019 08:28

This additional action from Exxon could trigger a few more nibbles for Global's shares. As seen previously, it does not take many nibbles to move the share price with there being few free float shares

[jimarilo] 25/4/2019 00:09

ExxonMobil Adds Acreage Offshore Namibia



The new licences 1710, 1810 are directly north of our PEL29 and 1711, 1811 are directly above our PEL94 shown in the link below

1711, which was a commercial gas discovery some years ago



Said this before, that they would not settle for two part shared licences and would want to increase their foot print

It certainly says that we are defo in the right place and their research has lead them to take a larger position in this highly prospective region. The piece forgets to mention Exxon also has a 30% interest in PEL44 as well as a 40% interest in PEL82

The heat has just been turned up a couple of notches imo

[jimarilo] 22/4/2019 17:48

I would imagine cos has improved with the above statement from Azinam, that Aptian source rock is oil bearing

[squibno1] 22/4/2019 14:07

CPR reported the main Aptian Carbonate reservoir at Gemsbok has been estimated to have Best Estimate unrisked gross prospective resources of 1.1 billion barrels of oil with a probability of success ("POS") of one in eight. The POS for the deeper Syn-Rift section at Gemsbok and the Lion and Dik-Dik prospects is lower than the main Carbonate resource at Gemsbok but the oil resource numbers are significant.
Lets hope a one in eight chance is sufficient to tempt one of the big oilies to get involved. The sooner the better!

[jimarilo] 18/4/2019 19:59

Serica are the latest company to confirm that the previous model was wrong, along with Azinam, AEC and Total all on the back of the Brulpadda well (‘Bullfrog well’) result in South Africa

From Upstream....

The find, made at the recent Brulpadda-1AX re-entry well using semi-submersible Deepsea Stavanger, has “overturned conventional geological wisdom” that Aptian source rock stretching south from Angola was not oil-bearing, Azinam chief executive Daniel McKeown told an Oslo energy conference hosted by Sparebank1 Markets on Wednesday.

“This is an important step change for the region that turns on its head common geological perceptions. Brulpadda could potentially hold billions and billions of barrels of commercial reserves,” he said.

“This area has historically been overlooked due to external factors - perception of source rocks and oil generation.

“Brulpadda confirms source rock is extensive in the region and capable of filling world-class reservoirs.”

and from Serica page 7

"Welwitchia-1 did not reach it's objectives and therefore did not penetrate the Aptian" This area is in the western half of our PEL94 and is home to the Delta prospect containing 9Bln barrels as per the Tower CRP

[investoroilandgas] 18/4/2019 13:07

Pancontinental (PCL - ASX) drilled in offshore Namibia in September 2018, there was an upturn in the GBP share price (52 week High 4.05p) during the PCL drilling campaign.

[jimarilo] 18/4/2019 12:31

Concidering the spike in share price with the previous drilling campaign in Namibia. It would be safe to say it will be at least replicated again

However with three Majors drilling this year with a new exploration model the Cos must have increased

Seapulse will also contribute two wells

[squibno1] 18/4/2019 11:58

the build up of action with more bigger companies getting involved in Namibia could finally mean that GBP share price will start to see some real action from this dismal low valuation. the long wait may finally turn out to be worth it

[jimarilo] 18/4/2019 00:52

The above confirms what has been said by Azinam and others, that the previous model has been turned on it's head

[jimarilo] 17/4/2019 13:48

Nice update from Serica today regarding Namibia

"Serica has engaged specialist help to market the opportunity more widely. A technical review following recent drilling results offshore Namibia has uncovered the potential for a regional seal deposited during the Aptian geological time period. This could explain the absence of hydrocarbons in the recent wells drilled in nearby blocks. This would also benefit the Serica prospects as they are located deeper beneath the Aptian seal, which could form a trap and in prime location for source and migration. Serica hopes to attract a partner to join in drilling an exploration well"

This will also put a new prospective on GBP's assets

Namibian oil & gas conference next week

[alexios1201] 17/4/2019 10:37

Sorry for o/t guysZENrigging up C37 for sidetrack into oil zone31mmbbl 2P ReservesProducerMcap under £10MShould deliver similar returns to BLOE sidetrack7p minimum Target

[squibno1] 12/4/2019 11:39

GBP Website shows
"Corporate

Global has an experienced and driven management and technical team both in Australia and in London. In September 2011, this was strengthened by the appointment of Peter Hill as UK based Managing Director & Chief Executive Officer.

The team has extensive experience of mergers and acquisitions and a strong track record of participation in discoveries and successful developments. This expertise, along with a well-defined but flexible strategy, means that the Company is poised to use its cash resources for further growth in order to maximise shareholder value. "

Nearly eight years on and the track record does not seem nearly as strong!

[squibno1] 11/4/2019 13:43

Is this share price finally going to go under a penny ?

[jimarilo] 11/4/2019 07:17

Looking at the company website and the operations page all the content has been removed

There is a chance that it is in a process of being updated, the company are due for a resource update of PEL94 and Tavistock said two weeks ago in an email they would upload Paul Howlett's recent presentation, but were awaiting the Ministry in Namibia signing it off

[yesyesno] 09/4/2019 10:09

BAM BAM, no they reverse the company into one of their other AIMs and continue.

[jimarilo] 09/4/2019 07:49

Woodside and AEC also confirmed as exhibitors

[bam bam rubble] 08/4/2019 23:42

The Board spend cash like its going out of fashion. Most on admin by the looks of it. Cash pile of USD18m down to the 2's, Once it's gone will they pack it in and call it a day? We can but hope.

[jimarilo] 08/4/2019 14:33

Global Petroleum Confirms Exhibition at the Africa E&P Summit and Exhibition 2019

[jimarilo] 05/4/2019 13:05

This the February presentation from Seapulse and shows three Namibian wells and no Italian wells since the ban has been enforced



This is the December presentation which had the Italian wells shown but also shows who their partners are going to be (page 6)



Partners listed include M&P, Eco and Char, which I conclude to mean PEL30, 44 and 45 could be their targets for Namibia

Here is the most recent Namibian licence map

[jimarilo] 30/3/2019 14:34

Updated Namibian licence map



Namibian conference next month

[jimarilo] 29/3/2019 08:44

PEL44 is in the same fairway as GBP

Fingers crossed for M&P to come up with the goods