Global Petroleum Share Discussion Threads

[investoroilandgas] 26/4/2022 11:01

emptyend - Interesting, what are your thoughts on a take out price?

[emptyend] 26/4/2022 09:07

The point about the extension is that it would have been needed anyway. Therefore better to do it now that leave it hanging there until farm-in terms have been agreed (because the extension would be a CP anyway).My best guess is that there are 2-3 interested parties, of which at least 1-2 were looking for more time. This restores potential competitive tension in the process.I remain of the view that someone would prefer to take out the whole company and form their own risk-sharing group.

[morningswimmer] 26/4/2022 07:50

13.4 bn recoverable light oil and gas, an off shore World beater, impressive. Thanks for the link L2E

[givmesunshine] 26/4/2022 07:49

Moring - Agree - glad in im here - pure punt.. but looks a great risk /reward shot at the basin .. I think there will start to be more interest inGBP going forwards

[l2e] 26/4/2022 07:24

Yep logical
Will this help

[jimarilo] 25/4/2022 22:03

Agreed, there is a seasonal/weather window for such offshore activities in Namibia, which starts September 1st

Total, have already announced at least three more wells starting September and you can bet Shell will make a return in September with Voyager

Exxon/Galp are also good to go in the Walvis Basin, drilling permits already signed off
..................
emptyend25 Apr '22 - 13:55 - 9665 of 9674
0 1 0
The way I look at is that the lead times for the commitment mean that you'd want to be shooting in autumn.....which would mean contracting by June. So I'd be expecting a deal in weeks.

[viralspec] 25/4/2022 21:36

It means GBP can afford not to accept 'the first offer' from any interested party because GBP are not against the clock, which interested parties will now know, whether they've shown their face yet or not.

Conversely, any interested parties will be against the clock because they'll know that as each piece of further good news emerges about the reservoir, with the purported 5 Billion barrels already, they'll have to stump up more cash and take a smaller percentage.

This extension to the licence puts GBP in a far stronger negotiating position as does having oil Majors already involved in the same huge reservoir of oil. The news today is a very positive development.

👍

[southway2] 25/4/2022 16:56

Lots of clues in those words. Timescale flexible ...mmmm

[southway2] 25/4/2022 16:54

Given this, the view of Global and its advisers is that companies, particularly potential new entrants to Namibia, will need significantly more time to understand the geology and petroleum systems offshore. As previously announced, Global believes that there is commonality of both source and reservoir between the two discoveries and PEL 94.Accordingly, the Company intends to keep under review the PEL 94 farmout process and, in particular, the timetable, having due regard also to the flexibility now provided by the licence extension.Peter Hill, Global Petroleum's CEO, commented:

[southway2] 25/4/2022 16:53

I read that as no offers yet and no one interested without further info .So it's good they have extension but seems an offer is not imminent.Time will tell

[stewarthogwarts] 25/4/2022 16:07

The rns simply says nothing is happening for a whileThey need more time could be later this year anything happens but expect the share price to have sunk to 0.3 by then

[viralspec] 25/4/2022 15:35

Sitting in the same reservoir as £ half a Trillion Quids worth of oil at todays prices will certainly help improve a £5 Million market cap. 😀

[supercity] 25/4/2022 15:07

Seen this many times before - zero reaction to the 'nudge nudge wink wink' RNS and then a few days later boom - the share shoots up.Potential here is immense- simply immense

[viralspec] 25/4/2022 14:22

After Shell, TotalEnergies also strikes oil in Namibia well with ‘very promising results’

February 24, 2022, by Nermina Kulovic

Following Shell’s recent oil discovery in Namibia, French oil major TotalEnergies has also made a significant discovery of light oil with associated gas on the Venus prospect, located in block 2913B in the Orange Basin, offshore southern Namibia.

_________________

Industry reports are emerging that the oil discoveries made offshore Namibia by Shell and TotalEnergies at the beginning of the year could hold much more oil and gas than originally expected. An online industry website, Upstream, has reported the Shell discovery, which was initially thought to hold 400 million barrels,


# could now hold as much as two billion barrels of oil, while the TotalEnergies well could hold as much as three billion barrels. #

__________________

In the RNS today:

"As previously announced, Global believes that there is commonality of both source and reservoir between the two discoveries and PEL 94."



Given that the 'two discoveries' are referring to the Shell and Total discoveries, the collective 5 billion barrels, I translate that as, 'now we know there's billions of barrels in PEL94, we now expect to get multiples of what we thought we could get before, so the price expectations are currently being reset upward accordingly.'

👍

[emptyend] 25/4/2022 13:55

The way I look at is that the lead times for the commitment mean that you'd want to be shooting in autumn.....which would mean contracting by June. So I'd be expecting a deal in weeks.

[hedgehog 100] 25/4/2022 13:41

25/04/2022 12:46 UKREG Global Petroleum Ltd Extension to Global's Licence PEL 0094

"Global (AIM: GBP) is pleased to announce that the Namibian authorities have granted a one year extension to the Initial Exploration Period of PEL 94, from September 2022 to September 2023 ("licence extension").

The outstanding commitment for the Initial Exploration Period (as extended) is to acquire, process and interpret 2,000 kms of 3D seismic data. It should be noted that Global's two primary prospects in PEL 94 - Marula and Welwitschia Deep - are already defined by existing 3D seismic data and the Company regards them as drill-ready.

The respective discoveries made by the Graff-1 and Venus-1X wells (see Global's announcements of 7 February and 24 February 2022) have heralded a major new petroleum province. These discoveries, especially in light of their reported scale, may be expected to institute a structural change in investor and industry confidence in Namibian offshore exploration.

Given this, the view of Global and its advisers is that companies, particularly potential new entrants to Namibia, will need significantly more time to understand the geology and petroleum systems offshore. As previously announced, Global believes that there is commonality of both source and reservoir between the two discoveries and PEL 94.

Accordingly, the Company intends to keep under review the PEL 94 farmout process and, in particular, the timetable, having due regard also to the flexibility now provided by the licence extension.

Peter Hill, Global Petroleum's CEO, commented:

"We would like to convey our thanks to the Ministry of Mines and Energy in Namibia for granting the one year extension to the Initial Exploration Period of PEL 94. This, taken together with the Graff and Venus discoveries, gives Global significantly increased optionality in relation to its future plans for PEL 94."

For further information please visit: www.globalpetroleum.com.au or contact: ..."




Today's GBP announcement says that they are reviewing the farmout process timescale, and that potential entrants need more time to consider the geology etc.

Processing-interpreting the seismic data seems to be the only remaining requirement in the Initial Exploration Period, and there is now a further year to do this, i.e. until September next year.

So it looks like the farmout process timescale, and any follow-on drilling, could be subject to significant slippage.

[stewarthogwarts] 25/4/2022 13:33

Farm in dates now flexible Meaning they need a lot more timeSo maybe a few months fromNowI've sold out

[emptyend] 25/4/2022 12:59

Well the licence extension has now removed an obvious condition precedent to any farm-in deal and, it would seem, has smoothed the path for new entrants into Namibia.That being the case, I suspect the company will soon be taken out by one such new entrant.....

[jimarilo] 21/4/2022 01:22

where do you get the 2.9 billion from ??

[hamidahamida] 20/4/2022 14:23

GBP could 10 bag easily on a good deal soon::Under 6 million Mcap 2.9 billion barrels of potential oil in hot area , where 2 majors have just recently discovered multi billion barrels of oil farm out process closing next weekJust can not see share price staying around at such a ridiculous level when company is on the verge of announcing major deal

[toopoor] 19/4/2022 11:15

RAMP OF THE DAY.


BUY TOWER RESOURCES (TRP).

£6.6M MARKET CAP..

YOU GET...

SOUTH AFRICA
NAMIBIA
CAMEROON..NEAR TERM PRODUCTION OF 4,000 (BOPD) NET TO TRP.COULD INCREASE TO 8000 BOPD.

[givmesunshine] 14/4/2022 10:34

Added £10k in two trades - you can buy @6.6 ish

[monis] 13/4/2022 07:36

Strategy and Outlook

The recent drilling successes in the Orange Basin are expected to bring a very strong boost to both industry and investor confidence in relation to Namibian offshore exploration generally. Global believes it is well positioned to benefit from this, and the Company is continuing with its farm-out process to fund the next stage of exploration on its licence.


------



You can only presume that with a successful farm out deal the share price would rise significantly here based on the amount of oil shell has found off Namibia recently.

imo dyor

[supercity] 12/4/2022 20:55

Meanwhile some people just float around bulletin boards spouting the usual 'pump and dump' placing coming' nonsense on any share that rises rather than trying to make some money and finding a positive outlook on life.