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Global Pet. Share Chat (GBP)



Share Price: 1.75Bid: 1.70Ask: 1.80Change: 0.00 (0.00%)No Movement on Global Pet.
Spread: 0.10Spread as %: 5.88%Open: 1.75High: 1.75Low: 1.75Yesterday’s Close: 1.75


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wraith
Posts: 5,543
Opinion:No Opinion
Price:1.75
RE: Further appeals won..
Today 03:37
Looking at page 6 (FIGURE 2 - Map of Southern Adriatic showing Italian permit applications), of September 2018 Quarterly Report ( http://www.globalpetroleum.com.au/uploads/files/reports/18-10-29---gbp_sept_quarterly_final-1540889448.pdf ),...that is acreage, with a good postcode,(imo),....with our present Market Cap of £3.55m = Cash balances at 30 June 2018 amounted to £3.85m approx (US$4,928,998), as shown under Financial, on page 2 of ;-

ANNUAL FINANCIAL REPORT
30 JUNE 2018 ( http://www.globalpetroleum.com.au/uploads/files/reports/18-09-26-gbp-2018-annual-report-1538121361.pdf ),.....not forgetting "Namibian Interests - Competent Person's Report";-
https://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/GBP/13495571.html ,

with mention of, Gemsbok prospect which contains unrisked Best Estimate prospective resources of over a billion barrels & Oil seeps seen on satellite close to the mapped prospects.

When considering the above,....we do appear, to be a tad undervalued, (imo).

BW
 
wraith
Posts: 5,543
Opinion:No Opinion
Price:1.75
RE: Further appeals won..
Today 02:14
Yep, excellent news ( https://www.asx.com.au/asxpdf/20181210/pdf/4412vltm304bb0.pdf ), thanks for link Marmited.

BW
Jimarillo
Posts: 1,123
Opinion:No Opinion
Price:1.75
RE: Further appeals won..
Today 01:40
Thats a serious amount of acreage in the Italian Adriatic we are about to take ownership of

What is that worth ??
Jimarillo
Posts: 1,123
Opinion:No Opinion
Price:1.75
RE: Further appeals won..
Today 01:12
Excellent news, just gets better ;-)
Investoroilgas
Posts: 97
Opinion:No Opinion
Price:1.75
RE: Further appeals won..
Sun 23:13
Global won six further appeals made against environmental decrees for its applications in the Southern Adriatic.....this is excellent news and demonstrates a clear direction of travel in respect of GBP's Italian assets. Cabot Energy (Cab) own Permits which are contiguous to the Permits which GBP are applying for, are currently in negotiations with third parties for a 100% funding of the exploration costs.

2019 is looking like it could be a transformational year for Global Petroleum.

GLA
Marmited
Posts: 551
Premium Chat Member
Opinion:No Opinion
Price:1.75
Further appeals won..
Sun 22:13
Jimarillo
Posts: 1,123
Opinion:No Opinion
Price:1.75
RE: GBP - The future
Sat 23:40
This is the link for the previous post

https://www.upstreamonline.com/hardcopy/1648254/italian-operator-reaps-riches-from-angolas-block-1506

Eni in 2004 paid near $1bln for one block in Angola (a few yards so to speak) from our Namibian blocks

They then promised a spend of $1.2 bln, covering just 11 wells. $100m a well, compared to $20m a well now

They were targeting 1.5Bln barrel potential, we have double that potential in just one block

Here is me thinking we will do well to get $20m (10p per share) for the company

The market has clearly got GBP completely wrong and at some point the Peter's will complete a deal, to everyone's surprise (accept for us holders)

It also would not surprise me if the Peter's have made it clear to any potential suitor that they were not selling cheap and so have cleared out the dross

If we are in talks I think we should be looking at a less conservative price. Even a Tenth of the figure Eni paid would take us to 40p.... mind boggling
Jimarillo
Posts: 1,123
Opinion:No Opinion
Price:1.75
RE: GBP - The future
Sat 23:15
6 Dec 2018 23:00 GMT
When Upstream broke the news in April 2006 that Italy's Eni had offered a $906 million signature bonus to secure Block 15/06 in Angola’s first licensing round, it stunned the industry, writes Iain Esau.

At the time, this was said to be the world’s highest ever signature bonus.

Eni also offered a $1.2 billion work programme covering up to 11 wells, targeting potential resources of 1.5 billion barrels of oil.

Despite these raised eyebrows, Eni, 12 years later, looks well on the way to recouping its spending on the block.

It is currently producing about 150,000 barrels per day of oil from two floating production, storage and offloading vessels — the East and West Hub projects. West Hub came online at the end of 2014 via the N’Goma FPSO, which will soon host production from six fields — Sangos, Cinguvu, Mpungi, Mpungi North, Ochigufu and Vandumbu.

East Hub started up early last year, with the Cabaca South East discovery tied back to the Armada Olombendo FPSO.

Output from Kalimba will augment output at this FPSO in 2021 or 2022.

In November 2017, Eni also signed an extension of its exploration rights to the block until 2020 and will likely drill the Reco Reco, Kaxixi and Berimbau prospects.

News that Eni is pushing ahead with the Kalimba project will be welcomed by Angola’s government, which last month, via Sonangol, outlined much-needed plans to revive the country’s ailing upstream sector.

Before Kalimba comes online, however, Sonangol has identified other projects that will boost, or at least maintain, Angolan production at 1.6 million to 1.7 million bpd.

These include Chevron's 83-N scheme in Block 0, Eni's Cabaca North in Block 15/06 and Total’s Zinia phase two in Block 17/06 plus Total's Clov 2 and Dalia 3 in Block 17.

Other big projects on the horizon is Chevron’s Sanha lean gas scheme in Block 0, BP’s PAJ project in Block 31, Total’s Chissonga in Block 16 plus various shallow-water developments being lined up by Sonangol P&P.
Investoroilgas
Posts: 97
Opinion:No Opinion
Price:1.80
RE: GBP - The future
Fri 10:13
I think it is fair to say that Global Petroleum own highly prospective / high impact drilling licences / Permits (soon to be confirmed) in Namibia & Italy.
News on the remaining November 2018 Appeal Hearings will hopefully be issued before Xmas.

You are absolutely right Jimarillo, they key now is patience. PI's and Directors interests are perfectly aligned at Global Petroleum.
GLA
Jimarillo
Posts: 1,123
Opinion:No Opinion
Price:1.80
RE: GBP - The future
Fri 08:04
Wouldn't surprise me if Kosmos and Shell are sniffing around, they seem to have joined forces for Namibia and looking to increase their foot print

Seems to me the heat is being turned up and more corporate activity is on the horizon

New deep pocket partnerships springing up and am sure they would rather take us out rather than farm in

The Peters would need a good deal to make it worth their while, but any deal would have to be put to the shareholders whether good or bad

Just a matter of sitting tight imo

http://www.kosmosenergy.com/pdfs/3Q2018Review2019Outlook.pdf
Jimarillo
Posts: 1,123
Opinion:No Opinion
Price:1.80
RE: GBP - The future
Wed 22:44
Agreed, was just typing that ;-)

We have a major partnership about to drill next door to us in both Italy and Namibia, with Exxon as a JV partner in one of the Namibian blocks

Now more than ever looks like we are a prime target for a buy out imo
Marmited
Posts: 551
Premium Chat Member
Opinion:No Opinion
Price:1.80
RE: GBP - The future
Wed 22:37
And sea crest/Azinam links up to Exxon.
Marmited
Posts: 551
Premium Chat Member
Opinion:No Opinion
Price:1.80
RE: GBP - The future
Wed 22:36
Sea Crest and Azinam appear better suited for GBP than Africa Energy and Tullow.

Interesting indeed!
Jimarillo
Posts: 1,123
Opinion:No Opinion
Price:1.80
RE: GBP - The future
Wed 22:29
Wow, there is an Italian, Namibian connection

This is very significant imo, good find chaps ;-)
Marmited
Posts: 551
Premium Chat Member
Opinion:No Opinion
Price:1.80
RE: GBP - The future
Wed 21:15
Cabot Energy are also in the Application stage for Licences - d60F.R-.NP, d65F.R-.NP and also d66F.R-.NP.
All 3 are adjacent to our blocks.

https://www.cabot-energy.com/operations/licence-overview/

Sea Crest (Azimuth) have Southern Adriatic history.. Clearly they like the prospects there and for some time as the article below dates back to 2011. There are 5 prospects adjacent to our 4 licences - A, E, H, J and K.

https://www.energy-pedia.com/news/italy/azimuth-farms-into-northern-petroleums-southern-adriatic-permits
Investoroilgas
Posts: 97
Opinion:No Opinion
Price:1.80
RE: GBP - The future
Wed 20:02
"read across"...….
Investoroilgas
Posts: 97
Opinion:No Opinion
Price:1.80
RE: GBP - The future
Wed 20:00
I think the following will be of interest.....
- Scott Aitken is Chief Executive of Cabot Energy, co- founder of Seapulse and co-founder of High Power Petroleum
- High Power Petroleum (HPP) owns 56.9% of Cabot Energy

- High Power Petroleum is the oil, exploration and production subsidiary of pulse power technology world leader, I-Pulse.

I deduce from the above that Cabot Energy (owns neighbouring Italian Permits to GBP) will have the finance in place to drill its Southern Adriatic Permits in 2019, there will be a direct re-across to GBP's permits which are contiguous.

Offshore Southern Adriatic is looking better and better by the day !
Jimarillo
Posts: 1,123
Opinion:No Opinion
Price:1.80
Deepsea Stavenger
Wed 16:46
The ultra deepwater semi-sub is about to berth in Walvis Bay before heading to S/Africa to drill a well for Total and AEC

Said to take up to 80 days from this month

I would suggest it will be the same rig will follow on to drill Total and Impact's Namibian well (deepest in Africa to date)
Jimarillo
Posts: 1,123
Opinion:No Opinion
Price:1.80
RE: GBP - The future
Wed 16:37
Agreed and the six blocks in Angola they have just picked up shows they normally go about their business

They must be looking at us, as we are in between their Namibian and Angola assets ;-))
Marmited
Posts: 551
Premium Chat Member
Opinion:No Opinion
Price:1.80
RE: GBP - The future
Wed 16:13
Azinam hold many licences in Namibia but Exxon has farmed into just 2 of them. It may be a reflection of Exxons belief in the prospects Azinam hold? I.e they like just 2? However, as you point out, Exxon like to gain acreage and Guyana is proof of this tactic with a 10th discovery there now amounting to 5 billion barrels. I do believe Exxon are looking for further prospects in Namibia particularly as it's been reported they are acquiring significant seismic data for basin geology study.
Jimarillo
Posts: 1,123
Opinion:No Opinion
Price:1.80
RE: GBP - The future
Wed 15:48
Not enough room for the full post, here is the rest

“Seapulse’s strong financial backing gives us the critical advantage of being able to drill and test a statistically de-risked exploration portfolio normally only associated with supermajor oil companies,” he added.

https://www.upstreamonline.com/live/1649295/newcomer-seapulse-contracts-maersk-for-drilling-programme
Marmited
Posts: 551
Premium Chat Member
Opinion:No Opinion
Price:1.80
RE: GBP - The future
Wed 14:50
Sea crest have a portfolio of companies..
Azilat, Azeire, okea, Azinor, Azinam and Azipac.
Jimarillo
Posts: 1,123
Opinion:No Opinion
Price:1.80
RE: GBP - The future
Wed 14:09
Just realised Seacrest are Azinam's backers

So not the major lining up a deal that has still to be shown, but Seacrest could still be in the hat
Jimarillo
Posts: 1,123
Opinion:No Opinion
Price:1.80
RE: GBP - The future
Wed 13:56
Hello whats this ?

Is this the group lining up a Namibian deal ? Note that the plan to drill 12 offshore wells in multiple basins, including Namibia & Italy

5 Dec 2018 12:11 GMT

Newcomer Seapulse contracts Maersk for drilling programme

Newly -formed oil and gas exploration company inks deal with Danish player for 12 offshore wells

Newly formed oil & gas exploration company Seapulse has signed an agreement with Denmark’s Maersk Drilling for a two-year offshore drilling programme in multiple basins, with work expected to start in the middle of next year.

Seapulse, a 50/50 joint venture between private equity player Seacrest and High Power Petroleum, a subsidiary of technology company I-Pulse, said it secured the right to participate in an extensive and diverse range of potentially high-impact wells “by focusing investment specifically on providing the necessary capital for drilling”.

The company farmed into 30 licences across 11 international basins, and now aims to kicks off drilling in the third quarter of 2019.

Under a master alliance agreement, Maersk will provide fully-integrated services, including provision of drilling rigs, related drilling services, well services, and other goods and services.

The alliance plans to drill 12 offshore oil & gas exploration wells targeting over four billion barrels of oil equivalent of gross Pmean prospective resources.

The programme is expected to begin in mid-2019, with an expected duration of 490 days.

“The exploration wells to be drilled in the programme span diverse play types and basins in both frontier and established areas,” Seapulse said.

“The scale of the Seapulse drilling programme rivals that of many supermajors by number of wells and potential scale and impact of the target prospects, but with a considerably compressed timeline and cost exposure,” the company added.

Chief executive and co-founder of Seapulse, Scott Aitken, told Upstream that the company aims to spud in mature basins in the UK North Sea and Italy, as well as frontier basins in Namibia, Brazil, Honduras and Ireland.

“The programme spans shallow water and deep-water wells in several regions requiring a combination of jack-ups, semi-submersibles, and drillships,” Maersk said.

“The specific rigs to be deployed during the course of the programme will be determined on basis of rig suitability and availability,” the company said.

The value of the alliance agreement has not been disclosed, however, Maersk said that the services will be provided on the basis of market rates with an incentive payment scheme to drive performance and provide potential upside for the parties involved in the well programme.

“Our strategy leverages Maersk’s technological and operational expertise, whilst giving access to a cherry-picked global prospect portfolio, creating a sustainable approach to offshore exploration,” Aitken said.

“Seapulse’s strong financial backing gives us the critical advanta
Marmited
Posts: 551
Premium Chat Member
Opinion:No Opinion
Price:1.80
RE: Offshore Southern Adriatic - Italy
Wed 12:13
Old article but useful info considering our 4 licneces (when finally awarded) border Croatia and appear slap bang in the middle of what is described below..

The deeper-water southern basin is located south of the Gargano Arch and is notably different in character to the northern and central basins, reflecting the basin fill. The southern basin extends through Montenegro into the Ionian Basin and includes the petroleum province offshore Albania. The Mesozoic carbonate platform margin is clearly distinguished by changes in seismic facies and the thickness of the Triassic to the top of the Cretaceous interval across this margin. Oligo-Miocene and Plio-Pleistocene stratigraphic plays also are interpreted in the southern basin on-lapping deeper structures. The Messinian unit is a characteristically strong reflector and may represent a clastic play south of the Gargano Arch.

A cross-Adriatic dip line of the Italian and Croatian platform margins clarifies the hydrocarbon system proven by drilling offshore Italy. Shallow, small structures close to the Italian mainland are fed by hydrocarbons generated in the deep Croatian basin to the east. However, what is perhaps most striking are the relative simplicity of the hydrocarbon system and the lack of complexity from Dinaric compression. This suggests that the southern basin has high potential for large, high-value traps.

High-quality seismic data permit the hydrocarbon potential of the underexplored Croatian Adriatic to be assessed for the first time. The dataset images deep, source-rock-bearing basins as well as multiple carbonate platforms. Combined with a new regulatory/fiscal structure and the ongoing licensing round, the insights gleaned from the regional 2-D data are helping unlock the imminent potential to develop the Croatian offshore into a much more significant hydrocarbon province over the next few years.

https://www.aogr.com/magazine/editors-choice/new-long-offset-2-d-data-illuminate-exploration-potential-in-offshore-croat




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