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yup 50 bag plus here possible imo
note likes of 88e have mcap of 100 x this. Significantly derisked asset by these upcoming drills
target 2.28 billion barrels of oil
What is being said as do not do Twitter
Presumably positive as large volume on Friday must be a sign of news
"Likely need a raise before signing up another year in September" Geowiz 1 August 2021
To be clear, Global Petroleum will automatically enter the next period of its licence after the sub period ends in September 2021, GBP will not need to prove that they have cash to undertake 3D seismics work, GBP has stated for years that they are seeking a farm out partner to pay for 3D seismic work and drilling.
"The Company (GBP) has completed its work commitments under the current licence sub-period, which expires in September 2021. The commitment for the next sub-period is to shoot a 2,000 square km 3D seismic survey". RNS 29 April 2021
GLA
For those interested, click on Geowiz username and read some of the posts during the last 30 days. All the posts are on oil companies & are negative. I cannot understand why someone would put so much effort into generating so much negativity.
GLA.
Let's look at the facts:-
* Sept 20 £1.4 million raised
* 31 Dec 20 $1,247,787 cash balance
* Feb 21 death of co-founder and NED, Peter Blakey
* April 21 - 25% cut in UK Directors' salary / fees
* April 21 - £1 million capital raise
It looks to me as though GBP is managing its cash very prudently.
For those of you who are newly invested, you need to be aware that Geowiz is the resident deramper on this Chat Page. He/she has admitted to not owning GBP shares, but he has admitted to owning TRP and CHAR shares. That's interesting because if you click on Geowiz's username you will see that he / she has not posted on the TRP (despite the recent increase in SP) and CHAR Chat Pages during the last 30 days but he / she has posted on the GBP Chat Page 10 times during the last 30 days, very strange behaviour some would say.
Total are planning to drill Venus 1 in September 2021, Geowiz has cast doubt on that despite numerous announcements by Total. Shell secured a farm out partner earlier this year to drill its two Namibian offshore PEL's, drill dates to be confirmed.
GLA.
Raised £1 mm before charges in April and steadily burning through $1.6 mm per year. Hence out of cash again around year end. Likely need a raise before signing up another year in September.
2 mill mcap for billions of barrels cash shells are priced higher
They raised £1m in April, so anyone saying they will need to raise again clearly hasn’t a clue.
I believe that the "someone is dumping their stake" is Monecor (London) Limited, they are a spread betting company which funded the last £1 million capital raise in April / May 2021.
An investor from another chat site has explained to me that Monecor (London) Limited hold shares as a hedge against their clients' positions. If the stake goes up or down, that is their clients' position.
We await an RNS to confirm whether Monecor have been offloading their hedging instrument (GBP shares).
GLA.
Nobody really knows what is going on but the fact is today 60million shares traded which is 10% of the issued share capital
I think next week we may find out
GBP unfortunately may have to raise more. plus there is TR1 recently someone is dumping their stake. so, i doubt we can sustain this rise until the seller is out.
TRP however looks better as farm out is imminent and no large seller
anyone knows what's the drilling programme is?
do GBP have funds?