Global Petroleum Share Discussion Threads

[joestalin] 22/6/2015 13:27

The directors are a bunch of crooks.

[hugepants] 22/6/2015 10:25

BBR Cash outflow was only $0.5M for Q1 2015. Q2 we don't know yet.

Regarding options the latest award was at the beginning of the year. 7.5M at just over 4p. Maybe they'll award themselves more options at 2p now. Its not fair they are so far out the money.

[olieslim] 09/5/2015 14:01

And the options list?

[bam bam rubble] 05/5/2015 13:45

The cash burn here is Swiss-like in regularity (-$1m a quarter)

Q2 2013 $20.8m
Q3 2013 $19.5m
Q4 2013 $18.8m
Q1 2014 $17.8m
Q2 2014 $16.3m
Q3 2014 $15.4m
Q4 2014 $14.2m
Q1 2015 $13.5m
Q2 2015 $12.5m

[olieslim] 05/5/2015 13:37

Global Petroleum Limited GBP 1.85 -0.15 (-7.50%) 2,239.00 2 1.85 1.85

A trade for 2239 shares wipes 7.5% of the Mcap. (£41 minus costs)

[kiwimonk] 01/5/2015 08:45

i didn't even bother to read the results, but weren't they trying to get some italian licences? v poor mngmnt. sack em all!

[hugepants] 30/4/2015 13:11

True but they were projecting $970K outflow for the last quarter and it actually turned out to be only just over $500K.

The G&A costs are about $500K per quarter and then extra is spent on explo/development. Recently I think this extra has been spent on further analysis on the 2D Namibian seismic and the Juan de Nova caper. However it looks like they will lose Juan de Nova and they can prob only spend so much on Namibia so good chance cash outflow will continue to drop.

[ohisay] 30/4/2015 10:15

Huge Pants - if you look at the statement you have 1m $ going out this Qtr.

[kev0856153] 30/4/2015 10:11

They don't know what they're doing. Wait for 1p.

[olieslim] 29/4/2015 22:15

Puf, puf....





...pffff.

[hugepants] 29/4/2015 10:29

This mutt released a couple of RNSs this morning.




The Juan de Nova licence may not be renewed. Is that good or bad!?

They clearly still rate their Namibian licence and they've been spending significant cash on further analysis hoping to derisk it to make it more attractive to a potential farminee.

Cash outflow was right down to $512,000 for the last quarter. Even if they average say $750,000 outflow per quarter GBP will still have 2.5p net cash per share at end of 2016. They had 4.5p at end of 2014. Looks seriously cheap to me at these levels.


GED also looks extremely cheap. It has 60p per share net cash versus 37p share price with no commitments and low cash burn. It also has 24.3 million barrels P2 reserves onshore Colombia.

[olieslim] 28/4/2015 23:54

How time flies...

When's the pump and dump scheduled?

[squibno1] 13/3/2015 12:51

the money will run out before the oil price picks up enough for them to find anyone remotely interested in our assets. time to take losses methinks!

[ohisay] 11/3/2015 16:54

The worry is they've got the brass neck to team up with TRP.

[sawney] 11/3/2015 12:03

The fact that we have maintained our relative financial strength in relation to our peers puts us in a good position to profit from the new market realities, whether by asset acquisition or via corporate combination.

Interesting phrase...."via corporate combination"

My guess is they will carry on looking for opportunities..... they must've been round the planet twice already.....

[ghostofahangman] 11/3/2015 09:44

My guess is they will merge this with TRP.....

[hugepants] 11/3/2015 09:28

Interim results out;



So at end dec 2014 they had ($14M) 4.5p net cash per share. Cash burn is about 1.5p per annum unless they cut costs. Shares are 2.25p to buy just now. So this company is currently valued at 50% of cash. They also have the Namibian licence and Juan de Nova licence.


The 2 non execs Blakey and Taylor each hold just over 20% of the company. I wonder what they are thinking here. They are each only taking £30 grand per year out the company. So in 3 years there will be nothing left and they will each have received £90 grand in salaries. But if the company is wound up they will get back £1.5M+ each. What would you do? Maybe they are looking for a deal that values the cash and then something extra for the listing because the assets don't look to be worth much.

[joestalin] 05/3/2015 00:06

Yes, Nick, or maybe the directors will continue to bleed the company dry.

[nick rubens] 04/3/2015 12:22

Amazing how much corporate activity with TRP over the last few years and very little or nothing with GBP in comparison.

Maybe GBP will one of those that suddenly multibags once real corporate activity starts.

[hugepants] 24/2/2015 12:27

i don't think any wells drilled in Namibia in 2015 but some for 2016

[hugepants] 24/2/2015 12:26

i don't think any wells drilled in Namibia in 2015 but some for 2016

[olieslim] 25/1/2015 22:04

...

;-)

[joestalin] 13/1/2015 12:00

Up 9% today on no news - something leaking out that the shareholders do not know about?
Surely not!

[olieslim] 09/1/2015 15:04

Directors here are directors at TRP, next door.

Not sure how, but expect that to explain matters here.