Global Petroleum Share Discussion Threads

[mr hangman] 22/6/2022 21:10

Can anyone tell me, apart from raising monies, what exactly has this company done in the last 10 years + ?

[mr hangman] 22/6/2022 21:08

They only thing one has to worry about, is dilution will probably kill you first, let's face it, this company has hardly got a good track record

[mr hangman] 22/6/2022 21:06

Yes I agree

[jimarilo] 22/6/2022 20:56

Peter Hill ........"we firmly believe that our patience will pay off."

[southway2] 22/6/2022 14:27

Can't really argue with that opinion.

[emptyend] 22/6/2022 11:42

Simply lies......Pathetic.

[yasx] 22/6/2022 11:22

Be it noted that a certain Empty is here - caution ought to be exercised since a certain chap was espousing the virtues of Soco (now Pharos) for over a decade stating at 450p years ago that a bid at 900p was a certainty. That was and remains his largest holding, although much of the value of his portfolio has been eroded. He is still supporting the management at 20p. Not sure what he has to say abut GBP, but, treat that guff for what it is.

[yasx] 22/6/2022 11:19

A bit of waffle from the Co. this morning - we have done nothing, however, we suspect our assets will be of interest to those looking elsewhere but might not secure their first choice. Just sit back and see how things unfold while we continue to get paid for doing just that.....

[sheepshagger1] 22/6/2022 10:31

Shocking company.

Sell and get some HUR who are cash rich whilst stocks last

[peverill] 22/6/2022 10:12

Must be a great life,set up oil company,join AIM,apply for licences,which are handed out willy nilly anyway,raise money to explore,with no actual thought of exploring,Pay yourself $????? for doing sfa.Rinse and repeat.They should be strung up.

[emptyend] 22/6/2022 08:06

Not entirely true. Certainly too much money has been spent "keeping the lights on" but there has been money invested in both Namibia and Italy.But it is certainly true that those of us who have held for a long while expected material M&A action years ago.As with many other companies though, the dramatic slowdown in industry investment since 2015 has had a massive impact on timeframes. If industry investment had continued at pre-2014 pace, more Namibian wells would have been drilled and GBP would probably have been sold 5 years ago.

[oliversydney] 22/6/2022 07:57

I hope you are right but it is not that many years ago the company had 12 million pounds in the bank with no debt which has all been squandered over the years through awful management

[southway2] 22/6/2022 07:47

Yes that is possible

[emptyend] 22/6/2022 07:43

" A presentation given by Global at a recent industry workshop in Namibia, regarding mapping of the source rock and migration of oil and gas from it, was well received and has generated additional interest in the PEL 94 data room process."....taken together with the comments about the quality of the companies showing interest in the farmout, my read is that one or two big players are taking a serious interest.Whilst obviously a placing is a possibility, I think a complete takeover of the company is much more likely - and will happen in the next few months (because, if it doesn't then yes a placing will certainly happen).

[southway2] 22/6/2022 07:37

Yes I read it as placing coming too but trying not to be negative

[oliversydney] 22/6/2022 07:35

As a shareholder for over ten years again no firm farm out offers and the rest seemed just like waffle
I am wondering if this update is preparation for yet another placing diluting shareholders even further
Surely if their assets are so exciting you would have thought with such a low market cap someone would put us put our misery

[emptyend] 22/6/2022 07:15

Quite an interesting update, for the reasons you allude to. Whilst firmer farmout news would have been most welcome, the points about counterparty quality and the expense of alternative acreage options are both positives. Ultimately the cost of buying out the whole company is "a rounding error" in the cost of drilling and developing oil in Namibia - the shallower water and lower drilling costs is a key consideration, putting a development project within range of consortia of smaller NOCs, whereas the deepwater Orange Basin opportunities will be a "majors only" gig.If I were running GBP I'd be auctioning the whole company between now and October (allowing for further info to emerge from the planned well). I still think 10p a share is the right territory.

[southway2] 22/6/2022 07:06

Bizarre updateBasically saying nothing of significance happening yet and patience needed .

[stockhunters] 20/6/2022 15:28

a placing at GBP surely not? lol

[bigginge1] 16/6/2022 13:12

Only thing stopping me taking a few at this level which has been a decent entry for a trade previously is the fact that historical events show a placing is well overdue here

[emptyend] 15/6/2022 16:31

Not very likely. Every indication that the farmout candidates are NOCs, unfamiliar with W Africa. CNOOC perhaps?

[hamidahamida] 15/6/2022 16:23

It's been over 8 or 9 months since the last placing company has a history of doing placings in this timeframe Weakness in share price points to Possible Placing being worked through

[southway2] 10/6/2022 08:17

Just not detailed I guess , but yes missing info .

[jimarilo] 09/6/2022 22:56

Strange the GBP or TRP blocks are not even on this map, are they trying to keep them off the radar ?