Global Petroleum Share Discussion Threads

[ifthecapfits] 30/9/2013 10:59

I live in hope "Potential farminees to the Company's acreage have effectively been awaiting the results of the two HRT wells. Of the two wells drilled in the Walvis Basin by HRT, Global regards Wingat-1 as being the more significant in that liquid hydrocarbons were recovered from the Aptian interval, establishing for the first time the presence of a source rock actively generating oil in the Walvis Basin. Global believes the upstream oil and gas industry shares this view, and accordingly it will re-launch the farmout by giving a mandate to a specialist M&A adviser to assist in marketing its two Namibian blocks with a view to identifying suitable joint venturers to advance exploration on the blocks, to which Global remains committed."

[acamas] 30/9/2013 08:41

What do you expect or want them to do?

[fangorn2] 30/9/2013 08:32

Another report comes and goes.....

Seriously what are these guys doing? Never seems to be any news to report..

[ertugrul] 14/9/2013 11:39

Bam bam you should also look at UENMy second large holding after gbpNeilyb675 - 14 Sep 2013 - 08:55 - 1451 of 1452a big week coming for UEN, news in the form of:seismic study results DUEPetrosakh drilling programme update (inc flow rates) DUEInterim results (before end Sept) DUEThe above are 3 very clear and obvious pieces of newsflow that we can expect either next week or the week after (at the very latest).Volume is often a pre-cursor to news coming (either a factor of many people realising the same thing i.e. news is due OR a leak that an RNS has been logged). UEN is something of an anomaly or an oddball type share. Producing over 2100 BOPD - good II support (Alpcot and sberbank) - few shares in issue (252 million)......and yet it sits almost languishing at 5p per share.It has staggered many PIs and some have even thrown in the towel.....BUT with the support of Petraco ($7 million loan) and with the upcoming tanker shipment UEN will be totally debt free and will be ready to take it to the next stage of their development.That will take the form, imo, of mergers / acquisitions and/or joint ventures. There are opportunities out there for companies like UEN who have great production and for me the investment case here is compelling. UEN: Buy.

[bam bam rubble] 13/9/2013 15:02

Yes, trip down under might be in order if the pound keeps strengthening against the Aus

Annual report shows 66% of Group cash is in Aus dollars, 33% in US dollars, 1% sterling

[ohisay] 13/9/2013 14:45

AUD not the best place for cash at the moment- I hope they're considering shuffling some into USD.

[ifthecapfits] 13/9/2013 14:39

Double from 2009?

[bam bam rubble] 13/9/2013 14:08

"Why GBP is a Buy in the 5's" by Bam Bam Rubble

Line in the middle GBPs cash position (affected by A$/£ exchange rate movements)
red bit = trading below cash position

Seems the double bottom is also in

[ertugrul] 13/9/2013 10:01

There is plenty interest in Namibia

Tullow is ready to invest $200m

[alex hawk] 12/9/2013 21:48

Belisce yes that's another sleeper, been away for a while and similar to GBP nothing's really changed. They've been banging on about farm outs for years.

[euclid5] 12/9/2013 21:40

But BPC have multi billion barrel prospects

what are the P50 OIP / rec oil for both of GBP's Namibia assets please?

[belisce6] 12/9/2013 21:26

Alex Hawk... if ur into these type of risk ventures... take a look at bpc... its been excruciatingly looong in the waiting, but by yrs end might hav an expensive farmout on its hands..

[p1nkfish] 12/9/2013 17:19

When your market cap is related to cash minus some discount, and it looks like cash will be spent without a proven revenue stream resulting to replenish it, no wonder the share price responds as it has.

[bam bam rubble] 12/9/2013 15:31

Another way of looking at it;

TRP: est. $7m cash at Dec 2013 (est.$15m shortfall in H1 2014). Market cap $50m

GBP: est.$20m cash at Dec 2013 (no new funding needed in 2014). Market cap $17m
owns adjacent license to TRP so shares in the upside without the financial risk

[bam bam rubble] 12/9/2013 15:08

GBP have covered work commitments to the start of 2015 so the plan is to leapfrog on others successes while preserving much of the $20m cash pile for acquisitions. A risk-off approach.

TRP on the other hand have a significant outlay over the next 12 months;

TRPs budgeted share of costs for the Namibian JV is $30m (H2 2013: $8.1m, 2014: $21.9m)
Current cash balance circa $15m. To fund the $15m balance and surplus for working capital, TRP will require further equity issues or will need to reduce commitments via sale/farm-out.

[ifthecapfits] 12/9/2013 15:02

Suffice to say that GBP don't have enough. They need cash - farm in or from investors.

[euclid5] 12/9/2013 14:51

what is the cost of the 1st drill for GBP's Namibia their acreage ?

[alex hawk] 12/9/2013 14:13

Contemplating whether TRP is a better bet leading up to the drill - with sentiment towards Nambia at an all time low easy money on GBP looks to be out of the question.Only catalyst is a farm in - but hard to get hopes up when they've done nothing for 9 months.

[monkey puzzle] 12/9/2013 12:43

Always has been......easy money for doing nowt 365 days a year.

[alex hawk] 12/9/2013 11:58

Nice cash cow for the directors nevertheless - no progress whatsoever.

[ifthecapfits] 12/9/2013 11:39

We need someone with deep pockets to step in.

[p1nkfish] 12/9/2013 10:48

You have a point KM.
Also, deep water.
SP responds accordingly.

[ertugrul] 12/9/2013 09:46

GBP - Drop after a good news yesterday, Namibia farm out on card, buy opportunity

UEN - Interims this months, drilling result due, seismic results due, good opportunity

PPS - Interims due, London buses talks going on, big contract expected, big bargain.

[kiwimonk] 12/9/2013 08:17

if that's the best news they can come up with in two years, they need to stop taking salaries and start proving they are EARNING them.

Buy a producing asset
now that's an idea.

Useless company.