With the Oil Price Outlook improving I'm hoping good progress is being made, with the attractive assets mentioned, materializing into a key investment sooner rather than latter,....they'v had plenty of time to assess what's on Offer, so I'm looking forward to having sight of the attractive assets mentioned, in the form of an acquisition made by GBP.
I think the gravy train will continue to roll on. Lets hope with the poo upturn that they actually make use of the cash instead of ******* it up the wall on ludicrous salaries and sitting on hands. Plenty of distressed sellers still that they could have invested in already. Just my opinion of course.
Sanibel,.....Management at GBP in my view to date, have been correct in taking a cautious approach regarding asset acquisition, ........they have come through the Oil Sector downturn very well, Cash in tact at the right time, ready to take advantage of an upturn (ie: Investing in an asset at the right time in the cycle).
GBP appear to be in a very strong cash position,..... from yesterdays RNS dated Tue, 24th Jan 2017;-
The ability to raise the finance necessary for funding asset development following an acquisition has remained challenging in the context of the relative slump in the commodity price since 2014. However, oil prices increased in the latter part of 2016, and market conditions for E&P financings have shown some improvement recently.
Global remains in a strong cash position in comparison to many of its peers, and is thus well placed to fund work activity on its Namibian acreage, its Italian application interests (subject to award), and to implement a change of focus through acquisition. We have continued over the latter period to engage with counterparties holding what we consider to be attractive assets, and remain confident of making a key investment in due course."
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