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GW. You answered your own question within your last post. If you don't get now you never will and I suggest you stick to CHAR.
Interesting conjectures Geowiz. The Namibians did just give GBP an extension on block 94 so they clearly have a positive view of GBP's efforts to date. Why would they behave any differently when it comes to block 29?
Why would Namcor want GBP to have the 29 asset when they know they have no money, ain’t going to be able to drill or shoot the 3D and have failed to farm it out over the last 8 years or so?? Surely they would want to take it back and start again?
Also possible Marmited, I agree that Namcor won't want to see GBP lose an asset. They'll help out with an extension on some sort of reasonable terms.
Between us 3 alone who have been regulars on here for at least 3 years have well over 150 years between us of life experience. We have been doing this game for far too long to get get the wobbles and can smell when something is afoot.
M, quite right ! The filter works for me, will let you put them right lol
Hope you got the PEL 87 link...cheers
I second that Marmited, my family's 1.06% of GBP is available for 10p per share.
A lot of effort is being expended by some posters berating GBP, I wonder why ?? :-)
GLA
Why all the sudden negativity? A few on here have gone into great depth not only GBP but also the licences around and beyond. If you want my shares you can have some at 10p. That’s my offer.
Ladies and gentlemen, us longs are not going to sell. Sorry.
AcricanObsever.. or how about a deal where Namcor gain another 5% of 29? Sounds crazy right? Clearly Namcor do not want GBP to relinquish any further in 29 otherwise it would have been done already when it was due last year.
Geo, the rest of TRP in Namibia is in a different basin called Namibe. Our prospects are in the Walvis basin. You do know that right?
So they'll do some sort of deal in which they relinquish part of the block in return for an extension.
They have already all the possible extensions on 0029 That’s the problem. It’s at the end of its contract. Time will tell. 0029 is where the value is. If you want a piece of Welwitschia it’s better to go for a Tower as if it’s ever drilled the major co will want the crest.
I reckon they will get their extension. Namibia is pretty easygoing when it comes to extensions.
PCL is a good example PEL37 (sent a link on PCL PEL87) and I agree a farm out is the focus of the company
Apologies for typo’s.
GBP are not looking to do a GKP or XEL and go alone taking the share price from 3-4p to over £4 in its height in both cases. It is looking to farm out both 29 and 94 and the most likely scenario if successful will be around a 15% - 20% free carry for GBP. You can use neighbouring PCL and the Cormorant drill as an example of just that. Now 15% of billions of barrels if they hit is worth a lot of money isn’t it. The work they have been doing is to secure a farm out. Yes, the 29 extension is the next bit of news I am expecting. Namcor have bent over backwards for GBP so far, even increased their percentage held on 94. You can bet Namcor will turn 180 and not extend 29 but clear evidence to date points to when not if. Show us 1 price of evidence the suggest Namcor will not extend 29. Just one.
Are you talking about the WSX - HNL story? That ended when HNL went off market? There were no large multiples of market cap in that story at all...
WSX was one wasn’t it ?
Nai/DYOR
Seriously Jim... When is the last time (if ever) you saw a micro-cap public oil company bought out for 15x-20x its market cap? Especially a micro-cap oil company with no wells or discoveries...
Eco Atlantic has a discovery on its books (albeit with heavy oil), it has c£18m cash in the bank, it has a bigger acreage footprint in Namibia than GBP, it has already acquired 3D seismic over a collection of its prospects - and yet ECO is only valued at c£39m!!!! Subtracting cash, its valuation is only c£21m.
There is NO way on Earth that GBP is currently worth anywhere near as much as ECO. Come on... If Eco is c£39m (or £21m excluding cash) then GBP can't hope for more than a single digit valuation until it does something tangible - like farm out and/or drill a well.
If you want another reference point then look at the recent BPC - CERP merger, did you see any major premiums there? No.
Your 15-20p price targets are just not based on the reality in which humans actually live.
I thought 10p would do me but now I’m starting to think 20p plus would be more like it.
Nai/DYOR
Considering the Welwitschia 1A well was drilled short of the deep target, but still cost $110m . A take out price of two blocks with over 4.8 Bln bbls of prospective resources @ £30m/15p would be considered a snip to a major or mid cap ......Even £40m/20p would still be a huge discount
Having said, that I do think a deal is on the cards
Regarding assets, the new regional concept has proven the management not only chose the correct post code, they got the correct street and door numbers ..........imo dyor
And 10p is only £20m market cap.
Nai/DYOR
Well if I was them I’d want 10p+ !
Nai/DYOR
There are only two realistic ways forward. We have a Clash. Lol.
Should I stay or should I go now?
If I go there will be trouble
And if I stay it will be double
So come on and let me know
Should I stay or should I go now?