Global Petroleum Share Discussion Threads

[oliversydney] 22/6/2022 07:57

I hope you are right but it is not that many years ago the company had 12 million pounds in the bank with no debt which has all been squandered over the years through awful management

[southway2] 22/6/2022 07:47

Yes that is possible

[emptyend] 22/6/2022 07:43

" A presentation given by Global at a recent industry workshop in Namibia, regarding mapping of the source rock and migration of oil and gas from it, was well received and has generated additional interest in the PEL 94 data room process."....taken together with the comments about the quality of the companies showing interest in the farmout, my read is that one or two big players are taking a serious interest.Whilst obviously a placing is a possibility, I think a complete takeover of the company is much more likely - and will happen in the next few months (because, if it doesn't then yes a placing will certainly happen).

[southway2] 22/6/2022 07:37

Yes I read it as placing coming too but trying not to be negative

[oliversydney] 22/6/2022 07:35

As a shareholder for over ten years again no firm farm out offers and the rest seemed just like waffle
I am wondering if this update is preparation for yet another placing diluting shareholders even further
Surely if their assets are so exciting you would have thought with such a low market cap someone would put us put our misery

[emptyend] 22/6/2022 07:15

Quite an interesting update, for the reasons you allude to. Whilst firmer farmout news would have been most welcome, the points about counterparty quality and the expense of alternative acreage options are both positives. Ultimately the cost of buying out the whole company is "a rounding error" in the cost of drilling and developing oil in Namibia - the shallower water and lower drilling costs is a key consideration, putting a development project within range of consortia of smaller NOCs, whereas the deepwater Orange Basin opportunities will be a "majors only" gig.If I were running GBP I'd be auctioning the whole company between now and October (allowing for further info to emerge from the planned well). I still think 10p a share is the right territory.

[southway2] 22/6/2022 07:06

Bizarre updateBasically saying nothing of significance happening yet and patience needed .

[stockhunters] 20/6/2022 15:28

a placing at GBP surely not? lol

[bigginge1] 16/6/2022 13:12

Only thing stopping me taking a few at this level which has been a decent entry for a trade previously is the fact that historical events show a placing is well overdue here

[emptyend] 15/6/2022 16:31

Not very likely. Every indication that the farmout candidates are NOCs, unfamiliar with W Africa. CNOOC perhaps?

[hamidahamida] 15/6/2022 16:23

It's been over 8 or 9 months since the last placing company has a history of doing placings in this timeframe Weakness in share price points to Possible Placing being worked through

[southway2] 10/6/2022 08:17

Just not detailed I guess , but yes missing info .

[jimarilo] 09/6/2022 22:56

Strange the GBP or TRP blocks are not even on this map, are they trying to keep them off the radar ?

[oliversydney] 08/6/2022 16:30

Do you think it is significant that they have updated their website as want we require is a positive RNS

[emptyend] 08/6/2022 15:29

I see that GBP have revamped their website.....

[oliversydney] 06/6/2022 08:47

Global are presenting on Wednesday 8.55 for twenty five minutes so must have something to report
Interesting

[jimarilo] 06/6/2022 08:26

AFRICA EVENTS

Hydrocarbon Potential in Namibia

7-9 June 2022 | Windhoek, Namibia

[emptyend] 28/5/2022 09:34

https://neweralive.na/posts/shell-to-appraise-discovery-for-commercial-development...."Walvis Basin is next"

[jimarilo] 25/5/2022 02:19

Here is the full content of the above link

TotalEnergies' hugediscovery pushes up bidding on Venus

The Orange Basin, home to two of the largest crudeoil discoveries in Africa in recent decades, is currently the focus of intensecompetition that could lead to record-breaking deals.

Issue dated 24/05/2022 Reading time 2 minutes

TotalEnergies' February discovery of the Namibian Venus field is expected to be the largest ever off the African coast since exploration began in sub-Saharan Africa in the 1950s. Confidential reports from specialist firms such as Wood Mackenzie and IHS Markit suggest that 10 and 12 billion barrels will be recoverable from this site in Block 2913B (Orange Basin), at a depth of more than 3,000m. In order to speed up the development process, TotalEnergies has agreed to drill two appraisal wells in September and a new exploration well by the end of this year. At around $100m per well, the project is expected to cost around $300m.

Spotting an opportunity to raise a large amount ofmoney quickly, Impact Energy is looking to divest its 20% stake in the block. In any event, it would not be easy for Impact to raise its share of the future wells ($60m) in a short period of time. Impact is majority owned by Hosken Consolidated Investments (HCI), the South African conglomerate of Johnny Copeland, a former African National Congress (ANC) MP and billionaire. The latter has been pushing hard for this sale. The rest of the junior's capital is owned by Africa Oil (30%), as well as current and former Impact Oil executives.

Who isin charge of the sale?

According to our sources, Impact hopes toobtain $1.5bn to $2bn for its shares, or $450m to $600m forAfrica Oil in dividends. The investment bank Jefferies was chosen by Impact to find a client for its Namibian holdings. The company won the contract in a hard-fought battle, even though many other banks were in the running: Evercore, Goldman Sachs, Tudor, Pickering, Holt & Co (a subsidiary of Perella Weinberg Partners, one of whose partners, Geraldine Murphy, was a member of Impact's board) and Kirk Lovegrove & Co.

This sale could be of interest to several companiessuch as TotalEnergies (if its right of first refusal is used) and Shell (operator of the 2913A licence adjacent to Impact's licence where the recent Graff discovery was made). QatarEnergy is also involved in both TotalEnergies' and Shell's blocks.

The challenge for Jefferies is to match, if notexceed, the success of the record sale of Cove Energy's (of former Shell man Michael Blaha) 8.5% stake in Mozambique's Block 1 to Thailand's PTTEP. The deal was concluded in 2012 with the payout of $1.9bn. Huge quantities of gas had been discovered on Block 1, which has been in the hands of TotalEnergies since the purchase of Anadarko's shares in 2019.

[jimarilo] 24/5/2022 06:46

My favorite shouldn't matter anyone ....we all make our own choices

[jimarilo] 24/5/2022 06:44

TotalEnergies' huge discovery pushes up bidding on Venus

The Orange Basin, home to two of the largest crude oil discoveries in Africa in recent decades, is currently the focus of intense competition that could lead to record-breaking deals.

Issue dated 24/05/2022

[giantpeach2] 23/5/2022 13:01

Jimarilo, which one is your fav out of TRP and GBP.

[jimarilo] 22/5/2022 16:54

Look out ...... Namibia is firmly in the spot light as are TRP & GBP !!

Checkout the up coming event in Namibia in the link below. TRP blocks getting the treatment on the first day. Also Paul Howlett featuring for GBP and many features on the Walvis Basin

10:50 AM - 11:15 AM

Structural Evolution and Burial History of the Dolphin Graben, Northern Walvis Basin (Block 1911), Offshore Namibia

Frieda K. Thomas, Pioneer Oil and Gas Consulting