Member Info for BlackBat17

That kid has got on his parent's PC again and is trading ridiculously small amounts...

Marmited,

You posted:

"It's unlikely to be a farm out otherwise we would surely be in breach of the mandate we terminated?"

How/why would GBP be in breach of the mandate?

If you terminate an agreement surely there is no longer any obligation to the other party?

Presentation made today:

http://www.africaoilcorp.com/i/pdf/Nov-Corp-Pres.pdf

So where do we go from here?

Is the following a reasonable scenario?

Some other oil company farms in with Global, bringing with it a large cash sum to buy a 80% interest in future earnings.
The share price increases to reflect the amount used for the farm-in
GBP then carries out a 25% share placing on the back of the increased share price to keep things ticking over

OR
GBP carries out a 25% share placing on the back of the current depressed share price to keep things ticking over.
Then a farm in happens.

Any thoughts?

I know I would prefer the first option, but how realistic is it?

From the Swedish Avanza site:

Africa Energy to Present at Africa Oil Week 2018
VANCOUVER, Nov. 5, 2018 /CNW/ - Africa Energy Corp. (TSX Venture: AFE) (Nasdaq First North: AEC) ("Africa Energy" or the "Company") announces that the Company's Vice President of Exploration, Jan Maier, will be presenting at the Prospect Forum during Africa Oil Week in Cape Town, South Africa on Wednesday, November 7, 2018, at 10:00am South Africa Standard Time. View PDF
A copy of the presentation will be available on Africa Energy's website

That last trade just does not make sense!

Not seen anything like that before!

For what it is worth Africa Oil Corp (AOI) up almost 20%...

Can someone take the PC off the child who is trading using their parent's trading account?

Some ridiculously small amounts have been traded this week, some less than the cost of commission!

From: http://www.lse.co.uk/share-regulatory-news.asp?shareprice=GBP&ArticleCode=9tyshu0j&ArticleHeadline=Notice_of_Annual_General_Meeting

"The effect of Resolution 4 will be to allow the Directors to issue Equity Securities up to 10% of the Company's fully paid ordinary securities on issue on the date of issue under the 10% Placement Capacity during the period up to 12 months after the Meeting, without subsequent Shareholder approval and without using the Company's 15% annual placement capacity granted under Listing Rule 7.1."

So the placement could be for 25% of the company. That's how I read it.

Thanks Jim,

Don't know how I missed that.

Am at work so will read tonight.

Jim,

I thought they already had 2011A - From 19th Sept RNS:

"It is clear that oil and gas industry interest in offshore Namibia has accelerated greatly in recent months and we are therefore extremely pleased to have succeeded in what has been a long-term aim for the Company - acquiring Block 2011A adjacent to our existing acreage."

Is there another one off the Namibian coast that they have applied for and I have missed?

Good to see continued interest in the Cooper block, which just happens to be next door to GBPs recent acquisition of the 2011A block.

Someone has just bought £27 of stock.

There dealing fees would have been around half of that at - what was the point?

...and hopefully the first instalment of many such purchases!

So some buyer with around £15,000 to spend on 800,000 shares, once they have paid the markup.

In absence of any news, is this a shakedown?

For those new to GBP, here is a link to the Competent Persons Report (CPR) from the RNS feed on this board:

http://www.lse.co.uk/share-regulatory-news.asp?shareprice=GBP&ArticleCode=rot8o5cf&ArticleHeadline=Namibian_Interests__Competent_Person39s_Report

Best Estimate: 3.66 billion barrels...

From the article Jim posted on Saturday (https://oilprice.com/Energy/Crude-Oil/Exxon-Is-Betting-On-Africa-For-Its-Next-Big-Find.html):

"In fact, Greenlee said, Exxon was hoping to strike a discovery of a billion barrels or more in Africa: what is known in the industry as an elephant, Bloomberg’s Kevin Crowley reports."

Following the 2D survey last year, didn't the CPR early this year state that GBP are sitting on a 3.3 billion barrel oli field?

Let's hope they come knocking on our door soon!

Yep - GBP looks like a prime target now!

If I had a four bed house in central London I could flog it and buy the company out!

As of n0w you could buy the entire 11,000 square kilometres of the combined prospects for less than it cost Chariot to do their latest drill - assuming it cost them approx. $250,000 per day.

Wonder how long this situation can last!!!

How do you make that out?

As of now we are down 16%!!