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Jim, always up for an open discussion, you do raise some valid points, but I don’t quite agree with the view point that the BOD are stalling.
The BOD appear to be taking the necessary steps required to farm out. They could have done this 6 - 12 months ago; You’re right but as with oil drilling there is no certainty of discovery. As both drills are due imminently with a fairly decent % of success, the opportunity to attract a reliable farm out partner is significantly improved. GBP and every other license holder near term success largely depends on Total and Shells drilling outcome.
Lastly, Q4 has been on the cards for Venus and PEL-39 for some time. This timeline can change as the Maersk Rig is being used in Angola will move to Off shore Namibia once completed. It could be Q1. As for Valaris DS-10 I can’t get a reliable reading as to where that currently is.
The existing drills are dependant on the existing charter drill targets. Once they’re met, they’ll sail across.
I’ve loaded up and waiting patiently.
Ps et al DYOR, never invest more than you can afford to lose.
I've been watching this share for a while now as it seems to have potential. However, the RNS is actually not the best if you take off the rose tinted glasses. It all points to delay by the company. Some may say the company are 'lining up their ducks' but others will see this as more killing of time to keep current shareholders and potential investors hanging. Serious investors or farm out companies are not willing to risk anything until results elsewhere are known, that is the long and short of it. How long will this be we wonder? The RNS states that drills by total and shell were due to be undertaken in Q4, however, there are still no guarantees of this as there are still no firms dates. Slightly odd as I believe that firm dates would be known by now if drills by majors were to take place before the year end. This is something GBP would certainly know if any dates were scheduled as they will be keeping a very close eye on these too and will want to update investors to firm things up.
I have a feeling that this could drift down further into the new year unless we hear news of these drills commencing this year, as it stands there are too many unknowns here. We will then have to wait for results from these drills which again takes time. Once these are known, investors and farmees will either jump in or run for the hills. Risky business as always with junior oil and gas companies and as the drop today has shown, too much risk for some.
Just my view, I wish everyone here the very best
They hiding the sells I think, live bid been falling most of the day. No we have both feet in the 40s!
Oliver Sydney
take a look at the posts by Jackie on
http://www.pveconsulting.co.uk/
it has good information on pve consulting or click on the above link
I must admit to topping up yesterday and already down even after the rns
However I take issue with PV E consulting as companies house show them as having only one employee who is the director. So hardly a major outfit
I can not understand for the life of me why the full time directors are not engaging in the farm out process in the past few years and really wonder what they actually do
See how the MM are playing hiding the buys to show up late
www.pveconsulting.co.uk
so what's been going on on GBP
#GBP attending in Dubai as speaker to present the company and it's License which has some 2 - 3 billions barrels of oil.
# pve consulting does huge farm outs,
#GBP should see interest from potential big investors taking a slice of GBP after the Dubai presentation.
# already Imperial Brand cc based in Sharjah, UAE took 3.69%
# good indication that more Arabs investors would be interested in GBP.
join the dots where this investment case is going.
GLA
wwwpveconsulting.co.uk are serious outfit.
look at the clients list.
Join the dots here guys, this has not filter through yet.
huge opportunity here,
https://africa-oilweek.com/Home
what an opportunity for Global Petroleum to get one of the wealthy a Sheikhs from Dubai to partner with GBP at this early stage of the campaign, why wait and pay many multiples when some people can take a big stake in GBP, as Mcap is tiny and potential 2B to 3b of oil is under GBP license.
reminds me of the next 100 bagger long term, short term 10 bagger.
http://pveconsulting.co.uk/images/PVE%20Consulting%20Ltd%20Overview%202021.pdf
Buyers taking over now
When asked management why they aren’t buying shares now in the company
A, They are unable to closed period
Does that mean they are already have potential bidders for the farm in
Today’s RNS confirmed potential interested parties
"The hotly tipped Venus well, in Namibia’s Orange Basin. It expects to drill this well in December...
Working with the French company at Venus is Impact Oil & Gas. The company’s Phil Birch said he was “incredibly confident” on the well, predicting it could hold 1.5-2 billion barrels. "
" Shell is also warming up to return to frontier drilling. The company’s exploration manager for Africa, Ben Mee, said it will drill the Graff-1 off Namibia this year. "
https://www.energyvoice.com/oilandgas/africa/ep-africa/351593/exploration-africa-last-around/
Sorry if already posted. GLA
Notifiable*
I get that impression to.
UAE investor takes a notificable position >>>> PVE hired today >>> presentation in Dubai next week re PEL 0094
GBP have licenses for huge potentially oil bearing and commerical structures and at circa 50% cash and a £4M MCap it does have real multibag potential. Major Namibian drills are on the horizon in Q4. Shell and Total will have done their homework and DD which will ignite interest here
I actually thought it was significant as no farm In will be done till after the 2 big drills
I think we still do, price action this AM points to large chunks being sold in background
It seems there might be more of a dip before any real news lands. How much lower than 0.5 can this drop?
Problem is some of us remember when GBP had 16m in the bank. Where did it all go?
1m buyer adding again
Namibia
Collaboration with companies experienced in deep water prospective hydrocarbon plays that are of sufficient size to attract Oil Majors as partners ahead of drilling
We don’t have the seller to stop us anymore
Private investors will be all over it looking for the next multi bagger
£4m market capitalization will be long gone
Bit of a nothing RNS imo. Still waiting for a farm in partner.
It’s a chronological process, Global have been waiting on Shell and TotalEnergies to conduct their drill for the past few years. There is no logical sense to create a legal binding agreement until ready to farm out. There is due diligence that is also required. Unless investor ops are convinced that oil is recoverable they would not be pursuing farm out.
Both Shell and Total only secured their Farm Out earlier this year with Qatar petroleum.
Follow the leader, the minows will follow.