Global Petroleum Share Discussion Threads

[emptyend] 22/3/2022 20:41

That would be my view too, given the Italian reliance on Russian gas - and the size of the blocks GBP are interested in in the Adriatic.If I was ENI, I'd be getting my chequebook out and cleaning up GBP at 1.5p a share. Few countries are more exposed than Italy.

[investoroilandgas] 22/3/2022 20:13

Thank you for sharing your thoughts.
Italian politicians must be focussed on strategies to reduce the country's reliance on Russian gas, will we see a change of strategy with regards to gas & oil exploration in the Mediterranean & Adriatic in the next 12 months? Time will tell.

[emptyend] 22/3/2022 18:55

Simply that the risking of GBP's prospects/leads nay have changed a little as a result of elements of the geological model having become a little more certain following the wells to the south. Obviously those directly involved are best-placed to assess it, but I would expect GBP/PVE to be considering the implications for risking on PEL0094. Any revision would clearly be positive, given both wells found oil.

[investoroilandgas] 22/3/2022 18:41

emptyend - can you elaborate your thoughts in your last post?
Shell and Total appear to be playing a very smart game in my opinion by giving little information away on Graff 1 & Venus 1.

[monis] 22/3/2022 14:53

I suppose there is the possibility that Shell may want to expand operations into Global's area?

[emptyend] 22/3/2022 13:37

I wonder whether there is an internal re-risking assessment going on, given the drilling results to the south?

[tomboyb] 22/3/2022 09:15

Picked up a few last week -

[investoroilandgas] 22/3/2022 08:29

Many thanks emptyend, that's good news.

[emptyend] 22/3/2022 07:38

From the Annual Report:August 2021 - post the reporting period - Global notified the Ministry of its intention to enter into the remaining one year of the Initial Exploration Period, expiring in September 2022. The commitment for this period is to shoot a new 2,000 square kilometre 3D seismic data survey, which the Company intends to fund via a farm-out. The Company expects to be able to secure a further one-year extension to the Initial Exploration Period (to September 2023) if necessary, based on the precedent of PEL0029 and that of other companies holding exploration licences offshore Namibia.I agree with that. Namibia has historically been quite flexible, even with small companies. A larger partner would help.

[investoroilandgas] 21/3/2022 19:48

emptyend - I'm interested in your understanding of the PEL 94 expiry in September 2022, does GBP have the option to extend the license for a further two years from September 2022?
Given that the global pandemic made it impossible for GBP to run a farm in process for 18 months plus, I would think / hope that the license would be extended.

[emptyend] 21/3/2022 08:58

There is unlikely to be anything from the company until there is something specific to say. That requires at least a deal agreed in principle - or a bid approach being made outside of the disclosed farm-out process.

[ih_679027] 21/3/2022 08:36

All gone very quiet and even nothing from Afzal Valli for four days
Would it be great if we actually got something from the company to cheer us all up

[southway2] 14/3/2022 18:24

Down again .Drip down and the occasional up day for next few weeks is the pattern.

[emptyend] 13/3/2022 21:22

....sure you have.....LOLZ :-)))

[emptyend] 13/3/2022 16:37

....sure......

[southway2] 13/3/2022 16:15

Aim markets don't like doubt and extending timelines This clearly not worth buying yet .Come back in at least a month

[emptyend] 10/3/2022 15:45

That decision was taken on Tuesday; I suspect there are some who expressed interest who are not in a position to firm up a bid quickly. There will be some whose explo portfolios need substantial revision, given the current geopolitical issues.

[jimarilo] 10/3/2022 14:51

Well spotted Investor !

[emptyend] 10/3/2022 14:45

Don't think that conclusion can be drawn at all. A deal can happen at any time, especially if it is a corporate takeover.

[southway2] 10/3/2022 14:01

So farmin deadline extension meaning more drift in share price for a few weeks but ultimately good news.But this is aim ... short termers will look elsewhere

[emptyend] 10/3/2022 10:56

Yup -think that is fair comment. Plus many companies who may have an interest frankly have more pressing concerns re oil price volatility and war risk. I don't see a small deal like GBP making board agendas in current circumstances........but for anyone who is in shape to move, that may give an opportunity?

[investoroilandgas] 10/3/2022 10:51

PVE Consulting has confirmed on their website that the bid deadline has been extended until 30 April 2022. I would have thought that GBP should have issued an RNS to confirm that significant information.
Potential bidders must be waiting for news on Graff 1 and Venus 1 discoveries.

[emptyend] 09/3/2022 14:08

.....very VERY VERY slow learner.....Moron!