Global Petroleum Share Discussion Threads

[rayrac] 29/4/2021 13:12

Just hope Exxon/Total have some luck..

Wonderful if they do, ? If they don’t.

Not a bad punt perhaps.. but I’m more inclined to buy into RECO

[paddyfool] 29/4/2021 12:58

Really? Show me a broker who will do that. And I can tell you also that it is extremely unlikely that the placing broker would have accepted such a low amount of £2500 . I am a customer of theirs and the ticket size is normally much bigger than that. And they don't allow forward selling.

[neo26] 29/4/2021 10:12

Lifestyle company, what have they done in last 6 years, at one time they use to have healthy cash balance

[letmepass] 29/4/2021 09:54

Really, don't believe everything you see... Forward selling is rife

[zxie] 29/4/2021 09:28

Good price to buy now

[paddyfool] 29/4/2021 09:13

shares in the placing are not tradable until 5th may, so whoever the seller was they weren't selling placing shares. To your point if you really want you can buy lots of shares at just over the placing price.

[letmepass] 29/4/2021 09:06

No doubt placing price under 0.40 for x amount of shares. Gifts....

[oliversydney] 29/4/2021 08:37

I see one of the placees sold 2500000 at 0.46 to earn two hundred pounds
A very long term holder who held for all of ten minutes
I suppose long term shareholders like myself can top up now at not much more than the placing price if that is any consolation

[daar] 29/4/2021 08:11

Wow placing at 0.45 + warrants

[jimarilo] 29/4/2021 08:00

Oh dear, what a shower

[jimarilo] 28/4/2021 10:08

Seapulse eyes first well as Azinam completes deal

[jimarilo] 27/4/2021 16:06

In fact they have confirmed completion of 2B farm out



"Azinam is actively reviewing growth opportunities across Africa"

They actually mention support of seapulse for the first time as well

[jimarilo] 27/4/2021 16:04

I noticed azinam have changed some detail on their website

Operations Namibia maps stays the same showing their previous blocks, but the index confirming what some of us already knew.......they officially have a share in just three Namibian licences PEL 30, 33 and 34, down from 6 licences

They are now showing 2B as confirmed in S/A so news coming regarding that soon



Will they want to increase their foot print ?

[emptyend] 20/4/2021 08:58

We'll see. The price of the assets is modest, relative to other alternatives and relative to other company sizes.....

[rayrac] 20/4/2021 08:12

A saving grace here would be if someone, eg Exxon, were to drill and find oil in commercial quantities..Otherwise the picture looks bleak

[emptyend] 20/4/2021 08:02

At this point the value of the company is essentially the value of its data and licences.....there would be no expectation that the company or its management would have a meaningful independent role. A takeover has always been the obvious conclusion.I note that Recon are consolidating interests in their basin. The same could easily occur offshore.

[rayrac] 20/4/2021 07:33

Market cap here is less than 3m and certainly can’t afford to go it alone. I think the situation is serious and needs a wealthy backer pronto.

[emptyend] 18/4/2021 08:24

I didn't mean YOUR enthusiasm, Rayrac, I meant the market's enthusiasm. Irrespective of the potential (which I agree might be substantial) the market is getting miles ahead of itself given that Recon have so far got virtually no data. And, as data comes in, the non-indigenous army of environment lobbyists and hangers-on will pile the pressure on. There may be no gorillas "in danger" or rainforest "at risk" but you can be certain they will find some pretext to raise money from the wokerati to kill the project, as they have done to stop developments in other African countries.There are, of course, a range of places and companies with exploration potential - and certainly Eco is one (whether in Guyana or elsewhere). The encouraging thing for everyone is that Recon has shown that Namibia can attract investment for oil exploration and that there is some geological evidence to support that..........and that, relatively speaking, GBP has currently got much more data per dollar of market value than Recon - and a better chance of getting oil into production by 2030.....even if it doesn't have as many dogs in that fight as Eco does.

[rayrac] 17/4/2021 23:14

Enthusiasm? It’s just taking a small bet on given vibes from the company and market reaction of late. In my opinion it’s a better bet than Global imo. I have been a shareholder of Global in the past, same as I am at Eco right now..but I’m in that because of Guyana not Namibia.

Good luck anyway, I think we need it.

[emptyend] 17/4/2021 19:54

....just a final point about Recon....look how much (2D) seismic they have already shot and processed...... https://www.newswire.ca/news-releases/reconafrica-begins-450-km-2d-seismic-program-kavango-basin-kalahari-desert-838154304.htmlBut still....their well is encouraging, even if the enthusiasm is hugely overdone and premature....

[emptyend] 17/4/2021 19:32

Come back in 5 years time - if they have found flowing oil in commercial quantities. The Recon share price is way ahead of the facts.I don't claim anything for the offshore, save that there is probably oil there too - and it will be vastly easier to find and develop than Recon will discover onshore.

[rayrac] 17/4/2021 16:45

ReconAfrica has licensed approximately 8.5 million contiguous acres over the entire deep Kavango Basin. We believe that the Kavango Basin is another world class Permian basin, analogous to the Permian basin in Texas—see Wood Mackenzie Report. It is estimated that the oil generated in the basin could be billions of barrels—see the Dan Jarvie report.

[rayrac] 17/4/2021 16:30

Well there’s no denying that off shore Namibia has been very disappointing so far. But isn’t it strange that when oil is probably found onshore, it’s claimed to have been better if it had been found offshore?

Namibia is after all, virtually all desert, so not much disturbance to the population? I have a feeling that recon have struck it rich to the extent of billions of barrels, and the only way to get involved, is buy reco shares, however difficult that might be.

So I have

Another feeling I have, is that any oil offshore Namibia will be in very deep water’s and, that’s not a cheap operation.

[emptyend] 17/4/2021 13:25

The same applies to all holders, including those in control and with much larger stakes than us - hence looking at "all strategic options"......which suggests things will get resolved somehow....

[oliversydney] 17/4/2021 12:33

At least Namibia is a stable country to do business but as a long term shareholder we need positive news soon before the license and funds run out but no choice other than to hang on