Global Petroleum Share Discussion Threads

[emptyend] 03/2/2020 22:25

Just to add on timing, he said the TOTAL well should be April/May with M&P etc following shortly thereafter.........given that he thinks there are multiple companies looking for a way in, then the question will be which blocks they will go for - and when (in the context of drilling plans by others) they will move.One thing is for certain - if the first wells start giving encouragement, it will certainly be more expensive to get a stake anywhere after mid-year.

[jimarilo] 03/2/2020 22:06

Interesting GIL not saying anything about Eco's Cooper farmout in Namibia anymore. Their drilling permit is for PEL30 Cooper prospect, where Tullow walked. Cooper has a read across with Cormorant and may have lost it's shine since Totals new concept. Where as the Western half of PEL94 and 29 are deepwater plays

If EM were interested in us, it is looking increasingly likely they may have competition

[jimarilo] 03/2/2020 20:24

GH of Eco, looking a bit sheepish (Guyana related ;-) However 11.15 mins in Namibia



3-4 wells to be drilled this year in Namibia. First Walvis Basin well looks to be M&P/Azinam/Exxon PEL44

I thought Shell/Kosmos were drilling next year, great stuff

Lots of exploration activity by other companies.........ie: seismic surveys

Additional activity by companies currently not existing in Namibia that would like to find a way in

New comers trying to get in and not enough deepwater exploration blocks with elephant sized potential to go around ;--)

[jimarilo] 02/2/2020 22:25

So I was asked elsewhere how many times did PGS cross PEL94 ?

When they initially surveyed the Namibe Basin they crossed the licence twice. They did have a spell in our relinquished block 1910B

Since the two week break following the Namibe survey, they swept up and down the fairway connecting PEL82 with GBP licences and beyond. In doing so they entered PEL94 five more times all inside the 1000m contour line ie: the western half on the block and Welwitschia Deep

It is logical for WD to be of interest, even if just to find out why Repsol saw fit to commit $110m and given the new concept data.

Obviously GBP did not commission this survey or we would have heard and we know not who commissioned it or do we ?

The link below announces the Namibe Basin survey mention above and in partnership with Namcor. The same Namcor that has a 10% interest in PEL94

Vessel: Sanco Swift
In partnership with: NAMCOR

[jimarilo] 01/2/2020 14:14

Interesting PGS are still sweeping up and down the fairway between the 1000m & 2000m contour line in blocks 1711 and latitude line 11.00/10E

The PGS on the Angola side tracking the same latitude line 11.00E

[jimarilo] 31/1/2020 23:16

This is a link to PGS full year results. The start(21.40mins) and questions at the end explains the term multi-client, contract and how both can be completed in tandem

[jimarilo] 31/1/2020 22:25

Holding on to assets that have over a potential 4bln barrels, until such a time that there is sufficient interest that potential suitors are now in talks with GBP, might reap dividends that far exceed $25m. Time will tell

[yesyesno] 31/1/2020 19:37

"put their hands in the pockets" they've been creaming a salary for years I think they can afford it. This company once had $25m in the bank and it's done nothing but shuffle papers for ten years or more now.

[investoroilandgas] 31/1/2020 11:52

With regards to the cash position, it is worth remembering that the Directors hold around 43% of the outstanding GBP shares. If there is a need to raise cash, the Directors will have to "put their hands in their pockets" so to speak. I suspect that they are doing everything in their power to avoid that situation, the biographies of the Peters are impressive imo.

[jimarilo] 31/1/2020 11:43

So we have enough cash to see a deal over the line within the next 12 months

Great news !

[ohisay] 31/1/2020 10:43

I note cash at the end of December was 1.76m dollars.
Outflow for Q4 was 475k including 380k admin.

So end of 2020 will be the proverbial squeaky bum time..

[jimarilo] 31/1/2020 10:15

BPC M/cap £60m

GBP M/cap £4m

BPC are still looking to farm out in a frontier region

GBP are still looking to farm out in a frontier region, that has majors invested in with up coming wells and looking to increase their foot print

For BPC to announce drilling plans before any funding is in place seems completely nuts. Expect a more orderly approach from the Peters ;--)

[jimarilo] 31/1/2020 09:48

The Peters are experienced campaigners and not the type to be spouting forth via webcasts at every opportunity. Continued talks with counterparties, will be as much as they can say at this point, until a deal is over the line

The point is, the market has to determine what the cos is of a deal being closed and does the risk/reward ratio warrant buying at this level

Looking at the activity and updates from other players in the region the evidence is looking extremely encouraging, combined with the multi billion barrel assets that GBP have to offer. I see GBP at a huge discount and todays comments bring us closer to a positive out come imo

[emptyend] 31/1/2020 08:35

Fair comment. But, when the spring comes and everything around you bursts into activity, you may still buy their services.....On Italy, it is all academic for now, given the moratorium. The legal challenges are gradually getting done and dusted - and all precedent seems favourable.

[squibno1] 31/1/2020 08:31

"further contacts were made with counterparties in relation to a potential farm-out of PEL 0094 and PEL 0029"
Hmmmm - the local gardening company made further contacts with me regarding undertaking gardening work for me, when they pushed further leaflets through my letterbox !.
Italy drags on - how is it that towns in a region as well as regional authorities can put in appeals?

[emptyend] 31/1/2020 07:52

Posting for 6 weeks about a variety of speculative stocks.....with (less than) zero substance to comments. Now ignored, as absolutely nothing of value to read. Bye.

[aimshares] 31/1/2020 07:28

https://www.investegate.co.uk/global-petroleum-ltd--gbp-/rns/december-2019-quarterly-report/202001310700045036B/

[jimarilo] 31/1/2020 00:33

Obviously they have attracted interest and managing to hold their attention. Paul Howlett must be earning his corn, making a case for GBP in presenting to the industry and with Namcor. Shame we are not party to the presentations, particularly the one titled "Hunting Elephants"

Interesting there was no reference to the survey activity in the Walvis Basin ;-)

From PCL quarterlies...Three wells planned in the next 12-18 months in the Orange Basin. Obviously not including Venus1, due in a couple of months

Further wells planned in the Walvis basin, also confirmed by AEC

[emptyend] 30/1/2020 23:40

Yes....interesting. As is the reiterative nature of the last few years work on the blocks.....almost like a flyer to attract some additional interest......

[jimarilo] 30/1/2020 23:15

"further contacts were made with counterparties in relation to a potential farm-out of PEL 0094 and PEL 0029"

There it is, for three quarters we are still engaged with counterparties, very positive imo

[jimarilo] 30/1/2020 13:04

Zzzzz, that the best you can come up with ?

[iamgreat1] 30/1/2020 12:41

Farmout has lapsed