Global Petroleum Share Discussion Threads

[kickoff3pm] 09/1/2015 10:49

Oil is so depressed at the moment it would be a big gamble to take on any more such projects. The way it's going a large number of producers will be running at less to no profit so investing in a similar event is not really on.

They have often hinted at mining ! but I think the main shareholders are looking to offload the company so it wouldn't surprise me if it was dissolved once it was clear they won't be able to take up their options. Still they could always back into another company and start again. That keeps their salary flowing.

KO.

[emptyend] 09/1/2015 10:19

I doubt they will be happy to see the cash pile decrease much further without doing a deal

That is entirely logical but a glance at what they've done over the last 4 years or so suggests otherwise. I've got a few shares accidentally left over from when I sold most at 23p or so in 2011; fortunately I made good money overall on it - but it is still very surprising to see no apparent effort to do much with the cash.

The board and management did a pretty good job for shareholders up to early 2012, but they seem to have virtually nodded off since. Perhaps there is a Rip Van Winkle awakening due soon?

[hugepants] 09/1/2015 09:48

I bought some of these earlier in the week. The really good thing about GBP is it doesn't actually do anything. The share prices of the producers and the explorers are all getting trounced, so doing absolutely zip is not a bad strategy in this low oil price environment. GBP is currently valued at about 50% of net cash and, based on the last quarters cash outflow, has about 2 years of cash burn before cash equals the current market cap. So quite a big margin of safety.

2 of the directors own about 40% of the company so I doubt they will be happy to see the cash pile decrease much further without doing a deal. And possibly the Namibian licence may still have value if some other outfit strikes a gusher? That could give the share price a boost. Anyone know if there are there any upcoming drills offshore Namibia?

[olieslim] 09/1/2015 00:09

Well, if nobody wants them... hm ;-)

[ohisay] 08/1/2015 17:05

Directors piling in clearly.
Er..

[bam bam rubble] 07/1/2015 16:07

Not much upside here but probably a buy @2.25p with the downside cash protection
making it a 'free bet' on corporate action. Another company offering their paper
for the cash the most likely (maybe Sound Oil following their failed bid for AEY)

[olieslim] 10/12/2014 08:13

Global Petroleum Limited GBP 1.50 -1.12 (-42.86%) 0.00 2.625

Extraordinairy start of the day...

And a 35 pound trade just added almost 40% to the marketcap

Global Petroleum Limited GBP 2.50 -0.12 (-4.76%) 1,343.00 2.625 2.5 2.5

Looks very promising ;-$

Could have a multibagger here on somebody spending 100 pounds :-)

[kickoff3pm] 05/12/2014 14:40

Ye get more contact from Santa then this company.

[olieslim] 02/12/2014 21:30

Seems the only way to get this company into action is getting those options cancelled. The company is run by that scheme.

P.S. I mean ofcourse nothing is happening because of that scheme.

[sawney] 01/12/2014 15:28

Well if they can't find a bargain now.....they never will....

[olieslim] 23/11/2014 22:25

sp looks so bad, there must be something good coming...

[olieslim] 19/11/2014 22:33

200k @ 2.9, only trade of the day. 2.875 close again

[olieslim] 14/11/2014 11:22

Good for the region.

[olieslim] 14/11/2014 11:15

Shorters looking for more shares. Let them throw some more at it.

It'll bounce soon enough. Trick is to beat them to it.

P.S. Blue shorters ;-)

[illuminati1] 13/11/2014 23:08

Slow and steady Back to +5p cash level

[encarter] 13/11/2014 12:39

Finally on the up. Must be due some good news soon.

[ohisay] 03/11/2014 08:12

Donk - Annual report.

[zebbo] 02/11/2014 20:54

Another blood sucker. We have the same issue at tethys. BoD / CEO on mega bucks for very little / no performance and an ever falling share price Shareholders need to take action with all these CEOs/BoDs.

[donk4] 02/11/2014 18:31

ohisay - I am not a shareholder in Global but having read the article in the Sunday went to look at the governance of the company. I could only find quarterly reports and no annual reports which would include the remuneration of the whole board of directors.

Also the company states that it is not of a size to need committees. That would of course include a remuneration which should and would if it existed deal with the MD's remuneration.

Am I right or have I misunderstood or misread the company's website?

[ohisay] 02/11/2014 02:08

IT’S time to unveil the latest winner of our Brass Balls Award for executive compensation.

Step forward Peter Hill. The Oxford-educated lawyer-cum-oil boss runs an exploration company whose name you probably won’t know — Global Petroleum.

Despite its expansive name, the London and Sydney-listed outfit’s operations are confined to a licence in Namibia that it has not drilled, a minority share in a field off Mozambique and, of course, a head office in Berkeley Square, Mayfair.

Since Hill, 58, the former deals supremo at Norwegian oil giant Statoil, took over in September 2011, Global’s shares have plummeted by 80%. As of Friday the company was worth only £5.7m.

Despite its diminutive size, in the past three years Global has paid Hill £750,000 in cash and handed him £270,000 in options. Given the lowly share price, these won’t be paying out anytime soon. In the meantime, the company has burned through £4m

[acamas] 27/10/2014 15:49

imo. PI's have been had I am glad I sold out with a substantial loss but freed of a burden on my portfolio. I have re-invested in a share that is at least holding its own.

This has been pitiful watching it climb and fall from around 20p a share. No oil yet discovered off Namibia and little future joy for this share price as far as I can see