Global Petroleum Share Discussion Threads

[jimarilo] 24/1/2020 12:08

Quite right not much cash, but we are on the cusp of a deal which will be part cash.

The directors hold c.45%, a placing would have an even bigger impact on them than on us PI's

[iamgreat1] 24/1/2020 11:56

During the year ended 30 June 2019, the Group recorded a loss after tax of US$1,734,589 (2018: US$1,965,570). The cash balance at 30 June 2018 amounted to US$2,786,791 So cash was $2786791 in June 2018. How much is left ?

[iamgreat1] 24/1/2020 11:53

Well if they haven't done one then Expect it

[jimarilo] 24/1/2020 10:50

Some on another bb didn't realise that GBP have already stated they are in talks with counter parties regarding the farmout of both our Namibian blocks on two separate occasions

This coincided with the timing of similar statements from TRP.....coincidence ??

[iamgreat1] 24/1/2020 10:43

When is next placing

[jimarilo] 24/1/2020 08:49

Indeed, long way to go yet ;-)

[aimshares] 24/1/2020 08:41

2p broken :)

[jimarilo] 24/1/2020 08:31

Later today, or a least the weekend I expect to see the PGS vessels run into PEL29, GBP's flagship block......this would be serious news, even more than currently

[jimarilo] 24/1/2020 08:19

S19.18/E11.14 this is the current location of the PGS vessels still heading north in TRP block 1911, not much further before the turn around and another sweep south

[jimarilo] 23/1/2020 22:38

At some point the penny will drop ee ;-)

Apparently there may be a reference in the up coming report

Currently, quite a pattern going on here and continuing the trend the PGS vessels have now come through our 2011A and into TRP block 1911, just off centre and leaning to the western side, which I imagine will be covering Alpha and Gamma prospects, that follow on from our own Welwitschia Deep (Pervously called Delta on the TRP presentations and CRP's).

What happens next will be interesting, but I guess they will turn and double back within the same fairway and through GBP blocks again

The main constant so far, is this fairway connecting , TRP & GBP to PEL82 Exxon/Galp

Edit: I am trying to be as Corporal Jones would say, "nonchalant", but inside is screaming something quite different ;-))

[emptyend] 23/1/2020 20:25

3p+ very soon, I think.....Update next week?

[jimarilo] 23/1/2020 16:35

Agreed this looks to be building into something quite different, than we have been used to here ;-)

Wait till the herd get hold of this ....

[aimshares] 23/1/2020 16:30

Yep can sell all 1 mill holding all at 1.77 and can only buy max 60k shares a very good sign .

[jimarilo] 23/1/2020 16:20

Online bid just gone up 1.77p and size ;-)

[jimarilo] 23/1/2020 13:13

PGS have now crossed into our PEL94/2011A, (S20.29/E11.40)following the fairway from Exxons licence PEL82, inside the 1000m contour line, again this is significant news imo

[jimarilo] 23/1/2020 10:28

Tullow gets one-year extension for license off Namibia

[jimarilo] 23/1/2020 09:07

So PGS just about to finish Oranto block 2011B and re-enter GBP block 2011A

[jimarilo] 23/1/2020 02:12

Continuing North S21.08 E12.00 the vessels have grazed PEL37 following inside the 1000m contour line (in the same fairway) and in doing so missed the first of the Oranto blocks ...... en route to GBP blocks potentially and another late night ;-)

This fairway has been mentioned many times here, as it connects Exxon blocks to GBP blocks and here we are watching a 3D seismic shoot in progress, surveying that very fairway. This is huge news for GBP shareholders

There is plenty of time for PEL29 to be in play, possibly saving the best till last.

PEL29 has best estimate of 3.66Bln barrels and high case 9.639Bln barrels. This highlights that they think it's big, but could be massive. Gemsbok alone has best estimate of 1.75Bln barrels and high case of 4.8Bln barrels

Exxon have sufficient interest to commit to a multi million dollar survey, in order to make informed decisions

Exxon are putting the Peters to the test and it's Total's new play concept that has helped bring Exxon to our door

[jimarilo] 23/1/2020 00:54

Adding to the above you forgot to mention, the carrot for a potential buyout/farmout, is our blocks have over 4bln barrels of prospective resources and GBP hold 85%

[aimshares] 23/1/2020 00:10

With all the interest in Namibia at the moment GBP and TRP both have four dip closures expect for Oranto the other blocks do not and either one or both GBP or TRP will land a farmout. They have both confirmed they are in talks with big oil firms regarding farmout . The only difference is TRP has over 1 billion shares in issue and GBP have over 200 mill in issue .TRP did a placing for 1.5 mill ,750k went on site survey and about 300k prep work and plus there monthly cash burn I would say they have about 300 to 400k left .Funding could be on the cards but they are not a one trick pony they have South Africa and Cameroon as well .GBP have about 2 mill left ,not done a lot in many years and italy has had its problems and on hold waiting on the courts . The other asset is Namibia which they have some cracking prime acreage blocks,and very low shares issue . 100 mill volume moved TRP up 10 to 15% ,just 10 to 15 mill volume on GBP would send it thourgh the roof. Both GBP and TRP good and bad points for both ,but with all the interest in Nambia and the big boys snapping up blocks and expected drills this year very exciting times in Namibia and both GBP and TRP there time has come for Namibia and I feel a farmout is on the cards .But who will snag the farmout first .

[aimshares] 22/1/2020 23:40

Lol if it's a buy out your looking a lot more then 10p to 12p , the prime acreage they have on the Namibia blocks a lot lot more for buy out GBP is cheap as chips at the moment and if news drops regarding farmout this will rise like a flash ,because the very low shares in issue and the very low free flow available ,the shares moves fast on low volume , you have seen what a couple of 100k buys and sells do ,down 20% or up 20% . If they land the farmout you will see a speeding Ferrari ,with a blink of an eye it will be multiples to current share price

[jimarilo] 22/1/2020 22:54

So, PGS did their turn inside PEL82 (Exxon/Galp) and are heading north again back up the fairway and just out of 82 currently towards GBP again

If we hit 20p there will be good reason... news of a farm out and if it included news of a well or two we could be at multiples of 20p. PEL29 requires a well this year

If we have news of a buy out 10-12p is possible ?

[yesyesno] 22/1/2020 18:13

As I said last year on a spike, till this break of the 2p range ignore everything. Even then take care but once past 2.5p the is no reason why this won't touch 5p this year. Then with luck 20p !!

[jimarilo] 22/1/2020 10:05

This fairway also runs directly into Exxon and M&P adjacent licence PEL44 and a certainty for being drilled this year, so I forecast PGS to venture into PEL 44 and then to double back for a return journey back to the licences of GBP