Global Petroleum Share Discussion Threads

[jimarilo] 07/4/2020 20:12

Before they were carried through exploration and now to first production, before contributing to 17% of costs

However they could have taken a significant cash settlement for the 3D data, instead of equity and the hope of success in this frontier region....there is the financial risk

As I said before why would they ignore the cash and accept the risk with a micro cap like GBP. Obviously they are inside and have the full picture in front of them.

We will have to wait for the rest of the picture to unfold

[swanvesta] 07/4/2020 18:32

But it says Namcor are carried to first production, so actually taking no financial risk whatsoever?

[jimarilo] 07/4/2020 17:24

Although Namcor have a 10% free carry, they have now effectively farmed in to PEL94 for a participating 7% interest. The cost of the 3D data, prices the original 85% held by GBP. The market seems to think Namcor pretty much gifted the data,which could easily be worth $5-$7m

Nothing priced in for the substantial assets as yet

[jimarilo] 07/4/2020 15:33

Agreed and a very poor deramper at that

[adnexal schevsur] 07/4/2020 15:07

deramper iamgreat here - sign to buy

[iamgreat1] 07/4/2020 14:27

Dealings in ItalyLosses on financials High cash burn Wouldn't be surprised to see a placing at 0.5p and today rise is one where the mms are allowing the placees to sell at profit before they announce the placing

[iamgreat1] 07/4/2020 14:24

R u on drugs

[iamgreat1] 07/4/2020 14:24

Wow what a ramp

[jimarilo] 07/4/2020 13:49

Before we acquired PEL94, I thought 8-10p for just PEL29

Combined over 4Bln barrels mid case....15-20p if Venus1 comes in ?

[yasrub] 07/4/2020 13:02

I thougth 6-8p was more likely.

[swanvesta] 07/4/2020 12:28

What are the comparators for potential take-out price?

[yasrub] 07/4/2020 11:02

This is way off the radar, in this environment if Exxon were serious GBP is simply taken out, at what price who knows but hopefully a multiple of where we are.

[jimarilo] 07/4/2020 10:33

Exxon taking over as operator might be enough motivation

[jimarilo] 07/4/2020 09:59

Namcor I imagine are not flush with cash themselves......what motivates them to take "participating" equity over cash in a block held by a micro cap with even less cash ???

[emptyend] 07/4/2020 09:53

...would be interesting to know where the offer would be though.....if some small fund wanted to have a punt....

[jimarilo] 07/4/2020 09:38

Very difficult to guess currently ;-), but would be impossible to buy in size without substantially effecting the sp

[jimarilo] 07/4/2020 09:21

The 3D acquisition is worth that, never mind the 4Bln barrel potential;-)

[emptyend] 07/4/2020 09:19

.....anyone care to guess what it might cost to buy 1mn shares now?

[emptyend] 07/4/2020 09:12

Ten weeks ago the share price touched 2.25p....and the offer (such as it is) is still less than half that. But at 1p the free float is valued at under £1.1mn and at 2p the free float is less than £2.2mn......and the whole company is about £4mn.........not much if there is an OPEC deal and some (now much cheaper) drilling likely off Namibia in 2020/21.

[jimarilo] 07/4/2020 08:58

Agreed something is emerging, where an exit or farm out, certainly what ever the game, it is very obviously still on

It is striking the amount of potential we are now seeing in PEL94, previous figures were without the 3d data. Combined with the flagship PEL29, it makes no sense at all for a mirco cap to be sitting on such a resource potential going unnoticed

[optastic] 07/4/2020 08:56

Must be a done deal, for NAMCOR to agree this deal

[emptyend] 07/4/2020 08:34

Very interesting to look at the detailed maps on this release:http://www.globalpetroleum.com.au/uploads/files/reports/20-04-07-gbp-namibia-3d-rns---final-1586239348.pdf......does the Deep prospect extend across the edge of the 3D and across the edge of the block? If it does, does it make sense to combine the blocks under common ownership?I think an exit route is emerging....

[jimarilo] 07/4/2020 08:21

and "a major step forward for Global" lets hope so

[emptyend] 07/4/2020 08:18

....yes.....I suspect the word "very" is highly relevant