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How is it possibly a good thing?
Every single share you own will become weaker in value as they are proposing to add another 139m shares more in issue at a lesser rate than what the market is right now.
We’re producing more oil than ever before at market rate that we haven’t seen in a decade.
Simply repay the loan back in cash!
I won’t be voting for it.
Dilution, dilution, dilution.
140m shares @ £0.032 each!!!
Clive specifically said that he would not carry out any placing/conversions which would result in the Existing shareholder value to be diluted.
There is no credibility left in this stock.
Everyone is expecting to see this shoot to 10p in a day.
It is known that there are risks here at GBP we still have lots to prove. The market is cr@p at the moment but our fundamentals have not changed.
Shell, Qatar P, NAMCOR have mitigated the make or break risk by confirming there is light oil.
I won't be parting with a single share until I hit my milestone targets.
Just sit back, relax and wait for news on the Farm Out, Venus well confirmation and Graff-1 quality results.
Christian Schaffalitzky, Executive Chairman commented: "The Directors are pleased to update shareholders on our reserves and resources, as we continue to make good progress further to the RNS of 28 October 2021 in relation to the potential sale for which a separate update will be provided".
CC, they've drilled in 3000m of water, GBP shares the same rock source as Shell.
Hardly a pump, if anything it's reassured any license holder that Namibia is infact sat on heck of a lot of oil and the oil has the ability to flow to the surface.
Shell have done with this wildcat it which makes it possible for the likes of GBP once they have a reliable farm out partner.
GBP have no debt and are cash positive. Screams multi-bagger in my eyes.
Shell has discovered light oil in Namibia and it's expected to be in the region of 700m to 1bn barrels.
https://www.namcor.com.na/wp-content/uploads/2022/02/NAMCOR-Press-Release-The-Graff-1-Deep-sea-discovery-_Final_3_Feb_2022.pdf
That was just a silly rumour to set in fear. The SP reacted accordingly.
The company website landing page shows "The Company is well funded with cash reserves and is debt free."
We've done a few placings in 2021 and in 2020. We've still got warrants outstanding for each placing and the increased likelihood of now securing a farm out partner, who in turn should fund activities such as Seismic 3D's, Drilling and more.
From a business overheads perspective, I think we're good.
It’s like constantly like trying to bat flys away…
Company website, debt free and well funded… no need to dilute more…until I see a placing RNS that’s when I’ll believe it.
“The Company is well funded with cash reserves and is debt free. It has an experienced Board and management team and is actively seeking to grow its portfolio through investment in new ventures.”
I don't know enough about TRP game plan. But I do know they have recently diluted and have a significantly higher number of shares in issue.
As it's the CASP board, I won't say much more. Just wanted to spread the love :)
I’m invested im Namibia oil play GBP that owns a licence in Walvis Bay, Shell has discovered oil in orange basin rumoured to be Bn of barrels of oil. Its years of planning in the making and expected to rise significantly.
Worth a punt on the rise on the reaction of this highly anticipated news.
Atb
Deep Structures
Deep Well A8
The Board of Caspian Sunrise is pleased to report initial production from Deep Well A8 on the Airshagyl structure at the Group's flagship BNG Contract Area.
Production from the first of three intervals planned for testing has been at the rate of approximately 120 bopd for several days. Work continues to establish the full potential of this well.
Production levels
Aggregate production for the year ended 31 December 2021 was 533,857 barrels at the average rate of 1,462 bopd (2020: 545,667 barrels at the rate of 1,495 bopd).
Production for sale in January 2022 is expected to be approximately 65,000 barrels.
Comment:
Clive Carver, Chairman said "The early results from Deep Well A8 are encouraging. With international oil prices in excess of $85 per barrel the Company is set for a good year."