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The more I am reading about orange basin, Shell and Totals upcoming drills the more excited I am getting for GBP.
All eyes are on both Total and Shell, should they prove oil can be successfully extracted, the value of orange basin will rocket.
Total have employed Maersk Voyager to carry out the drilling on Venus well once it is done in Angola.
Both Shell and Total have partnered with Qatar Petroleum.
Drilling is expected to take place any time now. 2022 is going to be an exciting year.
I take that back, it’s not specific as to whether it will be used for an acquisition,
“ The Placing will position the Company to part-fund the new licence commitments, as well as provide general working capital, including the possible pursuit of other strategic options, as previously communicated.”
Not necessarily, it states in the RNS that it was raised to fund the drilling.
There is absolutely no announcement from the company regarding an acquisition
We do not want an acquisition we want a sale of the company and money returned to long suffering shareholders like myself
Cash was raised while it was funded normally ends with a new acquisition
Hey Jackie1, you mentioned this previously, what do you have to support this?
Feeling very positive on Global now
Mad rush to pick up
Without the seller now
Something is in progress
Money was raised for new acquisition
In addition, as previously announced, the Company will continue to explore all strategic alternatives in order to maximise shareholder value
never ceases to amaze me what tosh people believe
I’m a believer of market maker codes and signals.
Earlier today there was a 1 and a 911 stock trade.
1 - RNS Logged
911 - Pending News/Press Release On The Way
Tomorrow will tell
The share price is waking up get on board
By Christmas that’s the prediction
Easy two bags by Christmas
Previously mentions there was a advfn post re new acquisition using the cash balance but the post was removed
Something could be happening ?
Indeed GBP does seem rather cheap/undervalued to me in comparison to peers & considering the below:
- Cash position vs mcap ~£2m vs ~£4m
- Threefold increase of prospective resources to 2,284 million barrels of oil net to Global (from most recent RNS)
- Farm out process initiated and ongoing (From RNS)
- Brent flying @ $85 a barrel
- Risked NAV of $25.5m and Unrisked NAV of $244.1m (Jan 21 - Source Panmure)
- Significantly higher net resources (mm bbl) than many pure exploration peers at a lower Mcap.
I have been adding a few decent chunks over the past few days as feel this is due a strong move once the block seller is done.
*Please do your own research, this is NOT financial advice. Thank you and GLA.
Some decent size trades that have gone through.
It looks to be someone is offloading and the price has stayed steady. Large buyer in the background?
ADVFN post
New acquisition mentioned
Recent funding was for the new acquisition deal
The progress made this year hasn’t been written into value yet , with more to come it looks a good prospect with the big boys working the same area
We’re on the move. A re-rate is overdue based on current events.
Def starting to look better here. Shame about the person who dumped their holding this morning as it was pretty much full ask to buy and about to move north.
"a process to farm-out PEL0094 was commenced and is ongoing."
Trumpton I expect you are aware of the speed of the farm out process.
"We are pleased to present to you the Global Interim Financial Report for the half year ended 31 December 2017" -
"the Company announced it would be conducting a structured farm-out process in which it would be advised by Stellar Energy Advisors." (that did not last long)
" The Company remains committed to pursuing its Italian applications through to award, along with the Namibian project where the farm-out process has recently commenced with a view to seeking a partner to fund future operations on the Block, commencing with a 3D seismic survey. "
The jigsaw is finally coming together quite nicely here.
I can see why Afzal has loaded up here.
Should Total or Shell find a drop of oil during their Q4 exploration I strongly believe a Middle Eastern farm out deal is on the cards.
There is only one caveat, if they find oil. Considering both Shell and Total are already in ageement for existing farm outs, there must be sufficient evidence to suggest there is oil down there.
Hugely undervalued, but this is where the most appreciation comes from. Should a deal be struck we’re looking at a 10 bag aslong as momentum kicks in.
"a process to farm-out PEL0094 was commenced and is ongoing."
Plus the recent UAE based TR1 - BOOM!!!!!!!!!!!!!
Peter Taylor may have sold but there are also new TR1s ;-)
I see Afzal Valli on Twitter is still talking this up but my question is why would Peter Taylor original long standing director sell out his shares a few weeks ago at rock bottom price.
Surely he would know if any good news was On the way and would be holding out for a
Much higher share price