Global Petroleum Share Discussion Threads

[justtrying1] 26/1/2021 07:47

Copl had an rns but their share price spiked and dumped expect the same here

[chopsy] 26/1/2021 07:35

If 3bn prospective resources translates into 300m P2 in the ground in due course, against current MCap £6m, at $1 per barrel that makes a 40 bagger in value. Of course other risks, costs, dilutions will need to be taken into account, so let's say 10 bagger with a farmout?

[farnham] 26/1/2021 07:25

Global Petroleum Limited("Global" or "the Company")Updated Prospective Resources estimate for Namibian Licence PEL0094Global Petroleum Limited (AIM: GBP) is pleased to announce its updated estimate of Prospective Resources for PEL0094 (Block 2011A), offshore Namibia, following interpretation of the 2D seismic data which the Company recently licensed. Global holds a working interest of 78 per cent in PEL0094, and is operator.The additional Prospective Resources, which are in the east of PEL0094, consist of 7 new leads with a total unrisked gross Prospective Resources (Best Estimate) of 2,048 million barrels of oil ("barrels"). As previously reported in July 2020, the pre-existing prospects - Marula and Welwitschia Deep - contain a total of 881 million barrels, making a new total on the licence of 2,929 million barrels unrisked gross Prospective Resources (Best Estimate).Regarding the Prospective Resources attributable to Global, the total unrisked net Prospective Resources (Best Estimate) now total 2,284 million barrels compared with the previous number of 687 million barrels net to Global for Marula and Welwitschia Deep alone.This means that the total unrisked net Prospective Resources (Best Estimate) - both gross and net - are over three times as large, due to the new leads identified. On a risked basis, Prospective Resources have approximately doubled.The technical work undertaken in late 2020 has significantly reinforced Global's confidence that the source rock is present and generating oil in PEL0094 and has further vindicated the Company's view that the acreage is highly prospective.Peter Hill, Global Petroleum's CEO, commented: "As promised in December, we are pleased to report the identification of significant new leads in the eastern part of PEL0094, together with further de-risking of our principal prospect, Marula, and additional evidence of the presence of significant source. The identification of Prospective Resources on such a scale in the new leads is obviously a great boost to the overall prospectivity and attractiveness of the Licence, which is very timely as we commence our farmout process."

[farnham] 26/1/2021 07:21

2200 million

[farnham] 26/1/2021 07:21

Unrisked 3 times bigger than previous estimates No comment needed

[dogsoggy] 26/1/2021 07:14

Big time Boom :)

[farnham] 25/1/2021 11:36

Looking ready to move

[emptyend] 21/1/2021 08:48

....post 8627 to be exact

[emptyend] 21/1/2021 08:44

It wasn't - as noted in the release!It is also a formalisation of something announced several weeks ago - you won't have to look back far to find a post from me guesstimating the strike price at 1.05, for the record.

[supercity] 21/1/2021 07:55

Not sure how you can describe it as an 'incentive plan' when the option price is twenty percent below the market price

[swanvesta] 20/1/2021 14:58

Scotty dog forming on the 3 month chart...

[fardels bear] 20/1/2021 14:36

IME most blokes called Norm live in Australia..

[emptyend] 20/1/2021 14:07

Not sure it would be called a "norm" but it is entirely possible. The reason is that GBP's own interpretation of volumetrics is irrelevant to a farminee - they will make their own interpretation based on the seismic data, so both sides' opinions can be formed concurrently.

[rachael777] 20/1/2021 12:30

Sorry this is stupid question time - we are due an updated resources estimate on PEL0094 in the next few days but the farm out process has already commenced ? I can see the data room was flagged up as being open January so are the results of the 2d seismic already known by a select few? Would it be the norm to expect an announcment of a revised resource estimate and succesful farmout in one go ?

[daar] 13/1/2021 12:49

Defo more than £5m. No denying of #GBP assets. Just the recent P&D was initiated by twitter crew

[emptyend] 13/1/2021 11:34

Sigh.....Its all just noise.The main question is....is the Namibian acreage in 2021 worth more or less than the £5mn market cap? The farmout outcome will tell us....

[daar] 13/1/2021 11:09

0.90 soon and then 0.80pTwitter crew out already imo

[wahrani31dz] 13/1/2021 09:51

Time to buy imo. News due in two weeks

[darkhearse] 13/1/2021 08:44

Can't sell

[rachael777] 12/1/2021 14:10

I think the volume traded over last few days makes it unlikely that we will be revisiting 0.8p any time soon

[daar] 12/1/2021 11:28

0.80p here we come