Global Petroleum Share Discussion Threads

[peverill] 13/9/2023 07:18

More guff.

[dead duck resources] 31/8/2023 15:06

Dilution was imminent after the last RNS (a cash guarantee to be advanced by Aug 31st). Looks like a hard one for brokers to get away. 37.5% off, pricing Global Pet at £1.3m and still needed to offer matching 3-year warrants at 37.5% off to further de-risk it for the placees.

[firestarter1] 31/8/2023 14:56

Yep can see the same crew on this failed who also were pumping MSMN which failedTYM failedVast failed

[apfindley] 31/8/2023 12:33

And then you look at the people (person) pumping this and tertiary min and other stocks and you see they take part in the placings too. Manipulators.

[janestone] 31/8/2023 12:03

Searcher were supposed to be doing multi-client 3d seismic over the walvis this year, but tower and global are potless and down the back of the sofa.

[southway2] 31/8/2023 11:34

This cash already gone imo

[whoppy] 31/8/2023 11:32

They will use that cash up before any farmout..then what?

If they'd raised £2.5m it would have given them breathing space to see out a farmout, but that would need a share price 10 x current price. They are running out of oxygen. Can't see a farm in partner stepping in while they are still doing technical work.

[tomboyb] 31/8/2023 11:19

250mill warrants also at 0.1p -

3 year expiry -

[southway2] 31/8/2023 11:17

I was thinking of buying after this placing but I'm not sure now .Do they really need such a small amount for tech progression or ....

[southway2] 31/8/2023 11:13

And there it is at last .We all knew it was coming and would be a big discount.

[whoppy] 31/8/2023 11:02

Crikey..that money won't last long. Doesn't even see them through to the end of their 2 year licence extension to 2025. They have to agree minimum expenditure for 3D seismic and one well so need a partner but they say they are using the cash for technical work still. Surely they've done all the technical work? or is it code for directors salaries?

[janestone] 31/8/2023 10:59

Yep, they've just given 30% of the company away for 500k

[apfindley] 31/8/2023 10:56

How to trash the shareprice for the sake of just gbp250k. As usual, warrants attached, and funny CMC involved again in a 37% discounted placing for their boys.

[oliversydney] 29/8/2023 16:00

In the last half hour suddenly quite a bit of buying and now no shares on offer. Could news be On the way at last

[yasx] 16/8/2023 16:36

That release was nothing more than a bit of promotional guff.

[dead duck resources] 14/8/2023 11:38

"The Company regards the grant of the two year FRP term (rather than another one year extension as expected) and waiver of a 50% relinquishment to be a successful outcome"


DDR however regards this as an unsuccessful outcome. That expected additional year's extension of the initial term would not have triggered a cash guarantee to cover the seismic work commitment so being asked to move to the next period is a worse outcome than expected. The waiving of the relinquishment requirement is a non-event, there's plenty of blank space on the dud licence that could have gone.

They say; "the cash guarantee is to be agreed and previously was negotiated as a low percentage of the minimum expenditure". How much is a low percentage of $30 million?

$1m cash balance at Dec 22. Applying last year's burn rate, may now be down to $0.4m
and the cash guarantee likely needs issuing before the new period starts (Sept 2023)

Today's announcement can be taken as notifying the market they need to raise capital

[southway2] 14/8/2023 08:12

Good news but no farm in mention

[markingtime] 14/8/2023 07:18

....interesting.....

[roberth176] 12/7/2023 08:50

No farm in then

[sensemun] 06/7/2023 12:32

Global and Tower need to merge

[peverill] 06/7/2023 12:29

News coming????

[markingtime] 06/7/2023 12:03

Will laugh when this passes 1.5p.....:-)