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Looking like the calm before the storm when hopefully an Rns will land with a new strategy and new directors
Where is all the buyers today ?
Look like this will rise
Nobody will be sorry to see the back of the current directors and have to consider we are still valued at a little over a million
Have been in this for years and sitting on massive losses but now will anticipate events but short of funds to top up but does seem a great opportunity now
Two people paid approximately £67,500 for a 5% stake each. Its priced to go under. Lets see if these two new shareholders and those they want to move in as directors can save this company.
With loss of $1,283,634 in 2023 and a loss of loss US$1,647,094 in 2022, and a similar amount left in cash, the money cold be finished in less than 6 months and more funding will be needed. And more shares sold. Looking very sickly here. With management now distracted things can only get worse. Yet there is a buyer of these shares.
Two new shareholders picked up a 10% stake. They are going to ring the changes for sure. History of decline here. One way down for the last 5 years or more.
Great Rns today Shantonu Chundur acquired 5% and he looks like the real deal
At the age of 31 asked to go to Africa and took charge and turned around troubled billion dollar offshore oil project
This is just the person and other investors to turn this around
Newbie
What is important is this is a full management overhaul - this imo won’t be the same company which has been destroyed by mr hill and co.
I feel that they’ll have their own cornerstone uhnw or institutional level investor (based on my inference from the tweets that a top class team is being put together now and the network mr Ahmad will have ) to get this moving and solve any issues regarding financing. They will be fully aware of all the finances going in and a major shareholder wouldn’t put together a team that will ruin his investment ( or ours as seeing how he operates over the years he wants everyone to succeed)
Regarding Namibia, there definitely could be JV interest and options here but maybe new better projects will come in. I feel we are at the starting point of what is massive positive change coming here
From this tiny market cap and with the right team and project this can really motor up imo
I write a few words …
I originally invested in global petroleum maybe 10-12 years ago a bit before the current CEO/MD was appointed.
At the time they had a very healthy cash balance (+10m) and some small producing assets in the US ( look back if you want to check exactly).
The current CEO/MD has drawn a very fat salary over the last 1m years and burned the big cash balance……and delivered nothing that has added value
I fortunately sold all those years ago and watched from a distance……a great lesson on where not to invest ( unless you want to pay someone’s salary and get nothing in return)…
Don’t have false hope here and look at the track record…..his salary will get paid until there is no money or mug investors left
I disagree with this as we all assume that Namibia is the one stop shop here. What if the new bod have other plans or ideas for the company and of course they’ll be aware of the financial situation and imo they’ll be smart enough to know not too kill the company otherwise why would they join or why would the nomad let them do that
I think the issue with aim is the myopic thinking and I feel a company like gbp now if Namibia gets a free carry JV for example then it’s ideal and even the financial report indicated a jv will help the financials situation of the company and if it doesn’t happen they can find other plans
but I’m eagerly awaiting the new bod ideas and for them to come in and imo I feel they’ll have backing behind them to grow and get the company going
We have to remember the old board will be gone so we now have a chance of reviving the company
The facts are:
Every one is waiting for the others to make the first move and get drill results to reduce risk and attract JV.
The easiest spot is with PTR and they don't have any cash to jump in, they have the shallowest confession.
Exon Mobil has the deepest concession but they have a deep pocket and they can wait to get GBP and TRP licences for free. This is what it seems to be the game at the moment They can wait GBP and TRP can't.
GBP has tiny mcap and need cash badly. with lowest price at 0.04 few days ago, The new investor is likely to have a discount as well and it will be a heavy dilution at a very low price. Even with cash raise say at 0.04p and GBP will be only able to maintain wages and licence fees. if they want to do more they need heavy cash raise say 95% dilution just o conduct extra work not a drill.
It is really a hard situation unless someone decide to drill and prove the area to be worth investing GBP ond investors and current one is going to be nothing.
reducing bod wages and costs will only stretch the pain. New management clearly will have the flag to wipe existing share holders value and adopt new investors.
Hi all - new here on lse but a long time reader. I followed Twitter more but want to be more active here as I feel the quality is better for Global Petroleum discussion
In all honesty I feel we are at a new beginning here. It takes a lot of effort to get a new board in and mr Omar has done us all a massive massive service in getting rid of the current board and placing a new one in.
Having interacted and followed him for years on Twitter I can say that when he gets behind something then it really moves and this bodes very well for us shareholders. Prime examples recently being Greatland gold (I recall him calling it at .5 region and it went all the way to 35p) and Marula which still have massive massive upside. So him going full steam with gbp means he seems massive value in it and him taking a 5%+ stake is evidence of it and of course changing the management team
Given his success on aim and him cornerstoning investments (which he has shown on Twitter) meaning imo his network must be very very good. So I can infer and of course based on his tweets that a really really top end team is coming here to gbp which is what excited me the most. Will be a fresh breath of air when they come in.
(I find it hilarious people have dug out info form years ago to try and downplay the news here - probably people trying to get in cheaper)
We all forget what Peter hill and co have done to this company and taken it down in their reign of terror in the last 12 years. They’ve dangled the carrot over shareholders for years with the JV potential l but they have not imo actively sought a JV but merely left a data room open. Eco in the same region got a JV but these guys at gbp just wanted to get shareholder money for themselves imo and not actually do anything with it for the company nor seeks to actually get a JV.
Had they stayed we’d been heading to zero and no chance of anything so this change brings hope, excitement and a chance for us to finally get going as a company.
We’ve got reports of 1 billion+ barrels here so I’m sure the new board are fully aware and will want to pursue this and have ideas otherwise why would they join or why would the nomad let them. There is plenty of dd that the nomad has to do on any management coming in from reading around this so them coming on board means I feel they’ve got a proper plan in place.
I think we’re in for a great upward ride here coming at gbp and glad to be part of the ride with you all
Who that you?
Confident person bought £10000 worth this morning presumably for a good reason and,at the end of the day our market cap is still neglible
And be careful of the local rampers as well
This is all about to get the placing done , get the share price higher on the news like that.
GBP has to hurry up with the placing before we see all time low again
From another site but put me off…
Feb 2021: Omar Ahmad associated David Palumbo (one of those proposed to join Global Pet's Board) joins AIM listed Pires Investments as non-exec. Share price 10p
Nov 2023: now 1.2p -90% down since Omar Ahmad associated David Palumbo joined Board
AND
2018: Omar Ahmad $450,000 convertible loan note to Eastgate Biotech
hTTps://www.sec.gov/Archives/edgar/data/1099574/000156322818000006/eastgatepromissorynotesigned.htm
2018: cease and desist proceedings in the matter of Eastgate Biotech
hTTps://www.sec.gov/files/litigation/admin/2018/34-84783.pdf
Suspension order of Eastgate Biotech over concerns about the adequacy and reliability of public information and 2019 disclosures about its issued shares. The SEC is of the opinion the public interest and protection of investors requires a trading suspension.
hTTps://www.sec.gov/files/litigation/suspensions/2020/34-88265-o.pdf
He was notified as a 5% shareholder on 31 October but passed the threshold on 15 September when the share price was around 13. Therefore I calculate his investment cost a little under 100k
I doubt he would want to lose this and the important factor is how well funded the new investors are. However must be an improvement on the present directors who have wrecked the share price and achieved nothing over the years
It's a good investment. They have a licence to an area that has potential amount of oil.
Is Omar Ahmad? A new shareholder, I believe...
(≧ヘ≦ )
This company is one of my worst investments ever. Nice to see someone taking action but it's all too late for me. My money has gone forever here.
C'mon Mr Omar Ahmad. Well done.
This will rise now :-))