Share Name Share Symbol Market Type Share ISIN Share Description
Global Pet. LSE:GBP London Ordinary Share AU000000GBP6 ORD NPV
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +0.00p +0.00% 2.05p 2.00p 2.10p 2.05p 2.05p 2.05p 292,915 08:00:00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Oil & Gas Producers 0.0 -1.4 -0.7 - 3.59

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Date Time Title Posts
23/2/201817:31Global Petroleum5,861
10/1/201714:58GLOBAL PET1,172
04/1/201608:11L2 - Observations, comments and screenshots32
11/3/201416:57GBP/USD Cable Forex15
14/6/201309:59Global Petroleum - Microcap Oil & Gas2,096

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Global Pet. Daily Update: Global Pet. is listed in the Oil & Gas Producers sector of the London Stock Exchange with ticker GBP. The last closing price for Global Pet. was 2.05p.
Global Pet. has a 4 week average price of 1.95p and a 12 week average price of 1.95p.
The 1 year high share price is 4.40p while the 1 year low share price is currently 1.63p.
There are currently 175,159,769 shares in issue and the average daily traded volume is 221,016 shares. The market capitalisation of Global Pet. is £3,590,775.26.
emptyend: You make a good point about the pricing of the options relative to cash but, on the other hand, there are commitments. Value will only be added if a deal can be done in either/both Namibia and Italy.With respect, 2013 was a very different world for exploration companies.Put another way, if the share price doubles from here then the total value from 5 years of options would be just over £100k pre-tax......or 4 months salary. That is not huge. In fact, arguably, it might be better to half the salary and award 3x as many options......of course, if the share price zooms to 10p then he would have 12mn options in the money.......and that would be "more like it".
hugepants: Well this chap has presided over a near total destruction of the share price. Check out the original price of his options below. They were subsequently rebased since they soon became hopelessly out of the money. Since he has taken the helm the company has achieved pretty much nothing except burn through most of their cash. It's really comical he's been given another 6 million options priced well below cash value. Cancelled options P Hill: i. 1,500,000 incentive options exercisable at AU$0.25 each on or before 1 April 2017, vesting on 16 December 2013; ii. 1,750,000 incentive options exercisable at AU$0.30 each on or before 1 October 2017, vesting on 16 December 2013; iii. 1,750,000 incentive options exercisable at AU$0.35 each on or before 1 April 2018, vesting on 16 December 2013; iv. 1,000,000 incentive options exercisable at AU$0.45 each on or before 1 October 2018, vesting on 16 December 2013; Re-granted options P Hill: i. 3,000,000 incentive options exercisable at AU$0.065 each on or before 23 December 2019, vesting on 27 November 2014 ii. 3,000,000 incentive options exercisable at AU$0.065 each on or before 23 December 2019, vesting on 23 June 2015
emptyend: .....of course, when you say "6 million more" options, it should be noted that the only other options he has are another 6mn options that are exercisable at about 3.75p - and are only worth anything if the share price gets above that level in the next two it isn't going to be a fortune - at least by comparison with his rather generous salary!
emptyend: at least he can now do something to get deals done and the share price up........ The Peters must be getting pretty frustrated - but, for some reason, not so frustrated as to fire him.
emptyend: With the seismic results in hand, GBP will be an "option money" acquisition for larger companies looking to develop their West Coast acreage. And then there is the Italy position, which shouldn't be ignored in view of the activities of majors in adjacent blocks.And, of course, a big chunk of the share price is still covered by cash.
ileeman: @rayrac Cash is very attractive. A lot of oil and gas activity in and around Africa, sure been some dusters but also some large finds. I Notice an increase of interest from majors. Seismic will be extremely positive for the share price if it is half decent. Target to start drilling in 2018. I bought quite a lot under and around 2p over the weeks/months. Think 4-6p is possible.
hugepants: No comment on results last week? Admittedly not much to report. We may have some 2D sesimic to look forward to next year on Namibia. And same on the Italian licences if they ever get awarded (I hope not). Exciting stuff indeed. The current share price implies Mr Market thinks they don't know what they are doing. Current share price = 1.5p Net cash at end of June = 3.8p Cash burn over the year = 0.9p
emptyend: Time for a deal, surely? The 2016 Annual Report is due next month, covering the period to end June. This is what the half-year report in March had to say: We believe that the Company has been vindicated in its strategy of de-emphasising frontier exploration, and of being highly selective regarding the type and quality of the assets which might be potential additions to the Company’s portfolio. The Board first adopted this strategy in mid-2014, prior to the slide in the oil price which has now continued for 18 months. It is our belief that it will be very challenging for the smaller Exploration and Production companies to make progress in a large proportion of the exploration licences which they have acquired, in Africa and elsewhere, over the last few years. The frontier acreage secured is often of variable quality, and many of the companies which hold it do not have the funds to carry out even early-stage exploration operations. Moreover, the larger independents and majors who would normally be expected to farm-in to fund drilling have cut their exploration budgets to significantly lower levels – and when they do return with the impetus of an improvement in the commodity price, they can be expected to be highly selective with regard to exploration opportunities. Whilst it is frustrating that the Company has not yet completed a transformative deal, we would reassure shareholders that we have been very active in discussions with potential counterparties. Our available cash puts us in a very strong position compared to many of our peers, but the ability to raise further funds from conventional market sources is extremely limited. This is a major inhibiting factor in our evaluation of opportunities, which often require further capital either as a component of, or immediately post an acquisition. Many of our peers and some larger companies have little remaining cash and limited access to new finance, and a significant proportion also have debt. This being the case, we expect to have no shortage of potential counterparties with whom to engage. ....I have highlighted in bold the aspect that I think has started to change in the last few months (as evidenced by a number of fund-raisings and strategic deals over the summer). Indeed, there are a number of companies that have seen significant share price rises as access to capital has improved. It is still not "an easy market" for companies to raise funds - but, for the sort of projects that GBP have been targeting, there is significantly more interest from institutions than there was in Q1 2016. If GBP don't do something in the coming months they may just as well wind up. But I am expecting them to do something, at last, before their cash pile depletes much further and they lose all negotiating power.
emptyend: Small point.....buying in AUD overnight at 3.5 cents or so is the equivalent of just over 2p, thanks to weak sterling on FX markets. Since the balance sheet is held in USD, current indicative mid share price in sterling (1.5p) is now significantly too low.
p1nkfish: You would think GBP share price would benefit if Iraq goes bad but not holding my breath.
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