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When PCL was drilling last September, GBP hit a 52 week SP high at 4.05p.....September is nearly here, I'm looking forward to the news flow to come from Namibia.
Certainly PCL on the ASX is seeing some retail interest, up 100% last night
They also have two blocks in Namibia
Great post M, indeed the industry will be all over GBP even if the PI's haven't as yet
As you say lots of upside yet to come ;-)
I guess there are many ways to look at it. It was certainly under the radar all round other than some investor interest around the drilling of Cormorant.
Since Brupadda proving the Aptian/Albian extends from Angola to South Africa, the inclusion to NAMPOA and GBP suddenly inclusive in others presentations I think with the oily's we are now without doubt now on the radar.
With investors though, we are completely under it. I don't think many get the significance of the proven play by Tullow and the pulling out of PEL 30/Osprey, our read across which extends into our licence and which the likes of ECO, Africa Energy and Pancontintal have pointed out there prospects now have an additional risk being thief channels, conduits and migration distance. Combine that with with the rooted gas chimneys in the Aptian on the Welwitschia structure, the drill bit yet to penetrate the Aptian on either of our licences, the unassigned oil slick mentioned by ECO, the repeating oil seeps on the faulted flanks of Gemsbok, the signifant fact our traps are mainly structural traps where recent drills failed on strataphic traps requiring top and bottom seal, the large shallow build up of gas along a fault, well 1911/15/1 just to the North of PEL 94 found 3 source rocks recovering oil from Albian carbonates. Exxon acquiring 4 licences to our north adjoining PEL 29... it is an unloved share still in the doldrums with bags and bags of potential.
Late night mumblings over.. :-)
Yes, I agree, we are still well under the radar,....but not so far under the radar, as awhile back, when I was Buying,(imo),.....I have been here, for quite some time,....good to see some interest, reflected in rising s/p.
BW
Interesting link from Azinam's website
http://www.azinam.com/about-us/
Could be both M ;-)
But yes we are well under the radar and are the cheapest stock on the ASX & LSE that have acreage in Namibia
If the Majors have a commercial discovery and you want a decent taste of the upside, GBP is the ticket to buy imo
The bonus being we could, farm out to a Major and have two wells to drill in quick order
I agree Marmited.....once drilling starts in offshore Namibia, hopefully Global Petroleum shows up on that radar.
If I learned one thing about Global Petroleum during the last 9 years, it is that the Directors play their cards very closely to their chests......they know how to negotiate & create shareholder value, we are in their hands :-)
We still are way, way, way under the radar imo..
Desperate to know which companies have approached GBP regarding a farm out? Is there competition or is it a joint venture approach?
It was difficult to Buy, any large Quantity, of GBP shares, awhile back, when we were still under the radar.
BW
The mm's clearly struggling for stock, small free float doesn't help them ;-)
Dummy sell on 69,000 Global shares offered 1.602p, Market Makers want the shares, they've done their research & know about forthcoming drilling in offshore Namibia.
GLA
18 trades sends this up 25% on no news, just think of what may happen when news of a farm out and / or news of drilling in neighbouring licences is released!
GLA
Currently GBP have started talks for farming out two blocks with multi billion barrels potential adjoining Eco's PEL30, so combined with the up coming wells, is probably the reason for the sudden interest here....and about time ;-)
Big thanks Jimarillo. That's a surprising number of wells. Looks like I have a lot of research to do this evening.
Starting 1st September through to Q1 there are around 8 wells to be drilled not including options or follow on wells
Exxon/M&P/Azinam/Seapulse we are expecting up first with two wells
Eco/Azinam/Seapulse PEL30
Total/impact
Shell/Kosmos
Exxon /Galp
The Maersk Viking is currently in the Walvis Bay preparing for 1st Setember and the West Eclipse looks to be in the mix as well
I can see Totla's Venus-1 is due to spud this quarter in block 2913B. Are there any other wells due to spud this year or early next year in Namibia?
Just shows BPC has a M/cap of £40m on the strenght of a LOI on a rig and no firm plan to fund it
If we sign up a farm in deal for two wells we will go through the roof, we also have the added value that the Majors are already here and about to start drilling.
Our M/cap should be much higher due to the potential for a deal now we are in talks and for a potential discovery from the Majors to reduce the risk on our blocks.......GBP cannot be ignored much longer imo
Agreed, am sure the details are ready to up load, just final approvals etc or final negotiation details to be complete
I have never seen a drilling campaign on this scale been left this late to announce. It strikes me as possible there might be a few unexpected plans
Ah, finally. Be Interesting to see some detail soon hopefully!
They told me the website would up and running in a couple of weeks.....that was first week in May
Seapulse website has just gone live, so has the expected teething problems and am sure there is more info to be added in the coming days
https://seapulse.com/
Yep. Probably just traffic passing through Walvis Bay and onwards for the comms fit out.
The rig is brand new and may require the mentioned coms installation ahead of the contract
Lundin have been partners with Total in the recent S/Africa discovery through Impact and AEC both Lundin backed and Total/Impact have the up coming Venus well in Namibia this season
Time will tell what rig they use
https://www.oedigital.com/news/469358-speedcast-to-supply-comms-for-west-bollsta
It does beg the question...What is it going to do in the next 7 to 8 months? It doesn't take that long to get to Norway!
There is another rig arrived last night the new West Bollsta, which is contracted to Lundin for ten wells and four option wells. It is meant to be heading to Norway, so probably a bunker stop