Global Petroleum Share Discussion Threads

[p1nkfish] 30/6/2014 11:30

Well they snore, so we guess so.

[sawney] 30/6/2014 07:29

Has this outfit actually still got a pulse ?

[p1nkfish] 25/6/2014 21:55

Not a fault of AIM. It's management.

[jathomas] 25/6/2014 18:21

Another aim disaster

[p1nkfish] 22/6/2014 08:31

well can they go and join gbp?
sounds like bs.
news was due june or is that another red herring?

[olieslim] 16/6/2014 23:27

'Someone' don't think the time is ripe for Namibia to have oil found.

Maybe they try hide it from somebody ;-?

[olieslim] 16/6/2014 17:20

Read the RNS.

Very strong buy at this level.

[bam bam rubble] 16/6/2014 16:11

Q4 2011 -A$573,000 admin
Q1 2012 -A$526,000 admin
Q2 2012 -A$524,000 admin
Q3 2012 -A$565,000 admin
Q4 2012 -A$838,000 admin
Q1 2013 -A$694,000 admin
Q2 2013 -A$664,000 admin
Q3 2013 -A$644,000 admin
Q4 2013 -A$500,000 admin
Q1 2014 -A$584,000 admin
Q2 2014 -A$644,000 admin

Today: "Global will continue its strategy of being highly selective in the way
in which it spends its funds" i.e. we'll spend it on salaries/expense accounts

[thaaarg] 16/6/2014 15:50

Relative to what exactly?

It's certainly not relative to the ever decreasing circle that is GKP's net cash position, nor is the ludicrous salary given to Peter Hill, who has done absolutely nothing since he joined the company.

The 'two Peters' are serial under achievers with this company.

How on earth did they manage to make 'enough dosh to not need the income'?

Apart from selling, for shares and hard cash, Namibian exploration acreage that nobody wants to their own listed company GBP of course.....

And if they have indeed made enough dosh to not need the income, they are hardly going to bust a gut to ensure an appreciating share price!

So...why don't they just wind the company up and return funds to sharegolders?

Oh I forgot. It's that income that they don't need.

[ghhghh] 16/6/2014 15:22

The two Peters own 40% so their interests are more aligned with shareholders than drawing relatively small non exec fees?

And they've made enough dosh to not need the income.

So I'm more sanguine than some of you.

[p1nkfish] 16/6/2014 09:47

Market may have lost patience with the jam tomorrow and hope for the future mantra. Especially with disappointments in not to far off blocks.

Do the management know what they are doing is the question now.

They may be totally correct but it's an act of faith and money is too cautious at the moment.

[alex hawk] 16/6/2014 09:20

Bottom line is 4p represented all time lows so if it doesn't get back above then expect a further free fall.

[p1nkfish] 16/6/2014 08:02

rns reads sensibly but risk not changed nor fact of strike-out near by.

it just means they carry on regardless.

all or nothing.

'feel lucky punk'.

[dontshootthemessenger] 16/6/2014 00:36

RNS in Australia

Saying they are still progressing their farm-out discussions and they don't think Welwitschia result affects their interpretation

[el1te] 13/6/2014 14:33

Anyway, best of luck to those invested here. As posted earlier, I'd be pushing for a complete change of direction if I was a shareholder, and I do hope that GBP can start to create shareholder value at some point in the future

Bam Bam - If you're interested in excessive management fees, glance over the remuneration that Simon Potter at BPC is receiving. Ludicrous

El1te

[bam bam rubble] 13/6/2014 14:31

Describing the management as weak does not give them their dues. The three Peters
(the CEO and gruesome twosome Taylor & Blakey) receive extraordinary remuneration
to the tune of $0.8 million a year. All the more remarkable when 2 are non-execs.
They are hugely talented at extracting cash out of effectively a dormant company.

The annual report states the reason the two non-execs are paid so much is they're
also being billed for services alongside the standard non-exec fees. But over the
last 2 years over $0.3 million was paid to 3rd parties for office/legal/secretary
services which implies services are covered. The $728,761 paid to Taylor & Blakey
in those 2 years therefore looks questionable. Might be worth looking through all
the annual reports to tot up how much they've rinsed since their 2002 appointment.

[p1nkfish] 13/6/2014 14:25

So they sold off some revenue generating assets, sat on the cash for a while, spent some on new acreage that is of unknown quality, and eat the seed corn in wages whilst waiting for someone else to strike lucky nearby.

BOD have no real plan do they?

[weissy] 13/6/2014 14:03

You certainly would wouldn't you Bam Bam. Excellent comprehensive analysis. Back to sleep I think. Zzzz

[olieslim] 13/6/2014 13:48

Deal anouncement can't be far now.

Keep the faith.

[bam bam rubble] 13/6/2014 11:57

GBP: £10m cash, junk status Namibia blocks and little else for market cap of £8.0m

AEY has £9-10m cash with a fully appraised oil discovery for a market cap of £6.2m

Both have weak management but can't see why Global is valued the higher of the two.
Would expect to see a continued drop over the coming months to £5m-£6m (2.5 to 3p).