Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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Looks like another buying opportunity
Exxon currently negotiating six blocks in Angola, two of which are on the Angola/Namibia border just north of GBP
Six blocks is the sort of interest you would expect for Exxon
They have only two blocks in Namibia, just south of GBP
Interest shown recently from Woodside, Kosmos and an International Major rumoured to be lining up a farm in deal.
Exxon have just completed extensive 3d seismic surveys in Namibia and could be looking to take further steps in Namibia as corporate activity increases
Just a matter of time and who is the major currently lining up a deal and who with ?
Global CEO, Peter Hill, commented: "We believe that the rejection by the Tribunal of the two appeals on which they have so far ruled is indicative of the lack of merit of the appeals made in connection with all four of our applications. These two rulings represent a major step towards ultimate grant of permits to the Company in what we consider to be a highly prospective area, as demonstrated by the activities of the major and substantial independent companies who are engaged in large-scale exploration projects close by in the Italian offshore, and in neighbouring jurisdictions in the Southern Adriatic, where very high value exploration programmes have been committed to."
Quote taken from last week's RNS, note the specific comment regarding ….."in the Southern Adriatic, where very high value exploration programmes have been committed to" Peter Hill - is referring to the investments that Shell and ENI have made in the Southern Adriatic.
Cabot Energy could be a catalyst for GBP, if Cabot secure 100% funding for their drilling (which they are currently negotiating) on their Southern Adriatic Permits, as GBP's neighbour this would have a direct read across & GBP could re-rate very quickly as it would prove that the Italian permits have value & are prospective.
Namibian news can come at any time, if the BoD started buying shares in volumes this would light the fuse to set the rocket in to lift off IMO.
GLA
GBP M/cap £3.8m, compare this with the companies below who have massive blue sky potential built into the sp and a long way above their cash price
ECO M/cap £78m
BPC M/cap £25m
UKOG M/cap £80m
GBP is priced at cash, nothing built in for a potential deal, with assets of multi-billion barrel potential
This shows the
I agree with you Jimarillo, I see very little downside from here & therefore I decided to top up my wife's holdings last Thursday. My focus is on the BoD, GBP has been kicking around for years, the Directors need to pull off transformational deals. They have in my view, the knowledge & experience to deliver value enhancing O&G deals.
I think it would send out a really positive message if all of the GBP Directors started to buy decent quantities of shares, I know they can't buy in a Closed Period but there have been plenty of opportunities in the last year where they could have bought shares. We need sentiment to change, the Directors buying shares would send out a clear signal that Global Petroleum was undervalued.
Funny how out of the blue we have news regarding the Italian blocks the day after the AGM
News regarding our new block PEL94 was out of the blue, no one predicted it
I don't think there will be announcement, that we are in talks, it will be .......we have completed a deal
They no longer need further approval for offering 25% interest to the likes of AEC etc
Don't forget an International Major is lining up a deal to farm into Namibia,that news will be out of the blue and may well involve us. If not it will further validate the holding of assets in Namibia
Woodside recently lost out to Kosmos regarding the Shell deal, so they will still be in the mix with other potential suitors creating competition for farm in deals or even acquisitions
Total will be drilling Namibia in Q1, with a spectacular deepest drill in Africa with impact oil & gas. This is something not been tried in Namibia. We also have deep water plays so may have a read across.
What ever our status in Q1, this well will certainly turn the heat up and if they hit the sweet spot we could be in double figures even without a deal
Are the Peters playing the long game or is there something in the pipe that will fall into our laps one morning
Time will tell, but the Peters interests are in alignment with the shareholders and I see very little downside from here, any shares being currently being sold is just noise, the main shareholding rump is not for sale at this level
I would like to see GBP focus on monetising existing licences rather than acquiring additional licences. In order to get the share price moving north, the market (& shareholders!) wants to see farm outs being delivered.
The Namibian & Italian licences / Permits are in highly prospective areas, Cabot Energy (which looks like it has had challenging times) is in negotiations to secure 100% funding for its Offshore Southern Adriatic permits, ENI and Shell are active in the Region which bodes well for GBP.
2019 is promising to be a very interesting & hopefully financially promising year.
I think those 4 licences in Italy have juicy potential, and a farm out there will add value too. You are absolutely correct to say the company will no longer look like a one trick pony. For some reason I dont think GBP are done regarding further licence awards. Whether that be Italy, Namibia or maybe South Africa?? However, the thing with Namibia is the mystery which I can't stop myself from researching for clues. :-)
I think we are agreed that Namibia is the main event but usefully we have been served up four Offshore Southern Adriatic Permits which are prospective. Importantly, two out of the four Permits have had Appeals against them dismissed this week & we have been told the remaining Appeal Hearings will take place in Q1 2019. The significance of today's RNS is that Global Petroleum can no longer be criticised for being a "one trick pony", the company is not now entirely dependent on Namibia.
I hope we have reached a watershed, Cabot Energy (GBP's neighbour in offshore Southern Adriatic) is in negotiations regarding 100% funding for its planned drills, GBP must catch up.
2019 needs to a transformational for GBP shareholders, it's time for the BoD to deliver.
GLA