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"Global Petroleum Limited (AIM: GBP) announces that it has appointed an advisor, PVE Consultants, to assist in the farmout of its Licence PEL 0094, offshore Namibia."
Can they do better than Stellar ?
ETX Monecor has no stock to sell
Awesome
Watch this go now
Actually made me LOL.
What’s grinds your gears about this share?
I think most investors are invested understanding that there are risks that this might not pan out as it all weighs on Shell and Totals drill. But considering we’re rock bottom right now, it’s bargain basement should they pull it off. The reward is outweighing the risk.
Total drilling is a positive
Timing is everything
Geo, I’m going to come out and say what probably most people are thinking.
What’s your issue with this company?
I’ve been here a few months but don’t think I’ve read anything you’ve wrote about GBP being positive or optimistic.
Herd will follow
Small market cap
No seller to halt us anymore
Why would Dubai investors if they exist not just buy 100 pct of the block next door ( the one Nam took back from GBP) which also has billions of alleged bbls? It’s all fairy stories until someone actually drills and finds.
Oil moving towards $100
0.50p everything will taken today
Next week we have the presentation in Dubai with many interested parties
Who can it be Shell, Total or Qatar Petroleum
The key here is 2.9 billion Barrels of oil.
just 20% is around $46 billion @ $80 per barrel.
Mcap £4M only!!!
I really think some Middle East Shiekh would buy a huge stake in GBP.
my theory is plausible and practical and would make lots of investors multi millionaire.
I won't be suprise to see investors from Dubai or other Emirates in the UAE looking at Global Petroleum GBP and taking a huge stake next week.
why wait for the results from two major oil companies to report, when 3D seismic data has 2.9 billion barrels of oil.
yep around 20 billion dollars barrels of oil around the GBP license is up for grabs.
Having said that I do see your point. They will probably only request an extension to the lease mid next year (they applied for an extension previously and were granted it in the announcement on 10th August 2021, cutting it fine). Therefore, I completely agree, no farm out partner will take the risk until this extension is granted for September 2023, this may only happen in August 2022. They may try and bring it forward but we would only be guessing.
I don't think it's irrelevant...
They will apply for an extension to September 2023. This gives plenty of time to acquire the 3D seismic via a farm-out, does it not? Please correct me if I'm wrong
Maybe but hardly relevant as needs to be done before it’s farmed out. Two options for this and TRP IMO. Sell on tick up when Total is mobilised and excitement mounts, or, if one has the b**ls, keep invested and fingers crossed, and hope for a Total success. It would be brave.
Taken from RNS on 10th August:
Under the terms of the Petroleum Agreement for PEL0094 signed in September 2018, the 4 year Initial Exploration Period ("IEP") was split into 2 sub-periods of 2 years each, with the first sub-period ending in September 2020, subsequently extended to September 2021 with a reduced work programme (see Global's announcement of 29 July 2020).
Global further expects to apply for a 1 year extension to the 4 year IEP at the appropriate time - such extensions are commonly granted by the Ministry, for example in the case of the Company's previous Licence PEL0029.
The work commitment for the upcoming phase of the licence is to acquire and process 2,000 square kilometres of 3D seismic data, a commitment which Global expects to fulfil via a farm-out. This new 3D seismic data would increase the chance of success of the Marula prospect and confirm the prospective resources in the eastern part of the licence, which were announced on 26 January 2021.
Interesting post. Is there an option to increase the lease duration?
This is all too little too late
Nones going to farm into a 3D commitment 6-9 months before the block is taken back
Might blip up a bit if and when this Total well is mobilised but it’ll crater if it’s a dry hole. Hopefully for Nam it’s a success but either way results are too late for GBPzz.
Ibyb, great response and always nice to have points raised from both sides of the scale, that is what these boards are for after all. Too often we see squabbling, ramping and deramping posts for people's own gain. I'm also here to learn and pick up snippets of info that I didn't already know.
It just strikes me as odd that the company have not mentioned previously they were to obtain the services of a company to help complete the farm out process (maybe they have and I've missed it). I would have thought it would always have been their plan to bring PEV Consulting (or another) onboard, unless of course they have thought we maybe need to kill a little bit of time here? It's only a thought and can work both ways for sure. On one hand it is good they have the professionals now in to help them but it adds time and we all know the markets are not patient when it comes to penny stocks.
I'm really interested to see how the next couple of weeks play out here. I honestly hope that this is the bottom, I just have my doubts that is all as usually such news as this is received negatively by the market. Now weather today was a false drop or not, its a drop, it may pick up tomorrow and it was all MM games, we shall just have to see, but if not then why did it drop? There is no other real negative points to the RNS other than... delay of farm out? I have been involved in a few junior oil and gas shares in the past and what one may think is a positive RNS, others do think differently but ultimately the market makes that call.
Again, huge potential here just a lot of risk. If Total and Shell's drills go badly then where does that leave GBP? The RNS seems to have added another step into this play with additional risk to boot.
All the very best and GLA
Jim, always up for an open discussion, you do raise some valid points, but I don’t quite agree with the view point that the BOD are stalling.
The BOD appear to be taking the necessary steps required to farm out. They could have done this 6 - 12 months ago; You’re right but as with oil drilling there is no certainty of discovery. As both drills are due imminently with a fairly decent % of success, the opportunity to attract a reliable farm out partner is significantly improved. GBP and every other license holder near term success largely depends on Total and Shells drilling outcome.
Lastly, Q4 has been on the cards for Venus and PEL-39 for some time. This timeline can change as the Maersk Rig is being used in Angola will move to Off shore Namibia once completed. It could be Q1. As for Valaris DS-10 I can’t get a reliable reading as to where that currently is.
The existing drills are dependant on the existing charter drill targets. Once they’re met, they’ll sail across.
I’ve loaded up and waiting patiently.
Ps et al DYOR, never invest more than you can afford to lose.
I've been watching this share for a while now as it seems to have potential. However, the RNS is actually not the best if you take off the rose tinted glasses. It all points to delay by the company. Some may say the company are 'lining up their ducks' but others will see this as more killing of time to keep current shareholders and potential investors hanging. Serious investors or farm out companies are not willing to risk anything until results elsewhere are known, that is the long and short of it. How long will this be we wonder? The RNS states that drills by total and shell were due to be undertaken in Q4, however, there are still no guarantees of this as there are still no firms dates. Slightly odd as I believe that firm dates would be known by now if drills by majors were to take place before the year end. This is something GBP would certainly know if any dates were scheduled as they will be keeping a very close eye on these too and will want to update investors to firm things up.
I have a feeling that this could drift down further into the new year unless we hear news of these drills commencing this year, as it stands there are too many unknowns here. We will then have to wait for results from these drills which again takes time. Once these are known, investors and farmees will either jump in or run for the hills. Risky business as always with junior oil and gas companies and as the drop today has shown, too much risk for some.
Just my view, I wish everyone here the very best
They hiding the sells I think, live bid been falling most of the day. No we have both feet in the 40s!
Oliver Sydney
take a look at the posts by Jackie on
http://www.pveconsulting.co.uk/
it has good information on pve consulting or click on the above link
I must admit to topping up yesterday and already down even after the rns
However I take issue with PV E consulting as companies house show them as having only one employee who is the director. So hardly a major outfit
I can not understand for the life of me why the full time directors are not engaging in the farm out process in the past few years and really wonder what they actually do
See how the MM are playing hiding the buys to show up late
www.pveconsulting.co.uk
so what's been going on on GBP
#GBP attending in Dubai as speaker to present the company and it's License which has some 2 - 3 billions barrels of oil.
# pve consulting does huge farm outs,
#GBP should see interest from potential big investors taking a slice of GBP after the Dubai presentation.
# already Imperial Brand cc based in Sharjah, UAE took 3.69%
# good indication that more Arabs investors would be interested in GBP.
join the dots where this investment case is going.
GLA
wwwpveconsulting.co.uk are serious outfit.
look at the clients list.
Join the dots here guys, this has not filter through yet.
huge opportunity here,