Geowiz - I think the "glass being empty" might also refer to you not holding GBP shares & being a persistent bearer of doom & gloom as far as Global Petroleum is concerned. Well, you've been wrong about Global "running out of cash", let's see it you can double up on being wrong on the "license extension". "A braver man would take a punt before Total spud ??" Correct....the likes of Jimarillo, Marmited, myself (& family!!) et al have !!!! Have a good weekend and stop worrying about shareholders losing money on GBP shares.
Now that we've got over the "running out of cash" issue, the focus is now on the license extension, once we get that over that, we have the luxury of the Majors doing the "heavy lifting" in 2020/21. Let's not forget what happened in September 2018 !! The capital raise has been on the cards for months imv, that's why I reduced my family's GBP holdings in the last month. I'm now waiting to see where the price settles before deciding on whether to increase the family's holdings. GBP - an AIM listed, wildcat explorer.....not for widows or orphans, or for that matter, Geowiz! GLA
I second that Marmited. The thing to remember about Geowiz is that he/she does not own any Global Petroleum shares, I can't understand what his / her motivation is for continually posting.... you would have thought that he/she would have better things to do with their time. GLA.
"Certainly in a better position now than what was feared a few weeks back on here. Placing price not good for existing shareholders though but if they can get a farm in (certainly a few being agreed in Namibia atm), substantial gains to be made imo " Spot on VisionOfFuture....! PEL00029 is I think set expire before year end, however I'm confident we will receive a license extension in the coming month. GLA.
Geowiz - You need to re-read the RNS "As a further component of the Placing and the Subscription, 186,666,667 Warrants are also being issued at an exercise price of 1.5p per share for a period of 2 years (one Warrant for every one new Ordinary Share). In the event the Warrants are exercised in due course in full, associated proceeds will be £2.80 million, with the result that the Company will have raised gross proceeds of £4.20 million at a weighted average price of 1.125 pence per share". With cash now sorted, the next RNS will probably be the license extension, we shall see. GLA.
The Placing was inevitable, I'm disappointed that existing shareholders were not given the opportunity to participate via an Open Offer. The good news is that Global is not about to go bust as some doomsayers have been spouting, Venus 1 drilling is scheduled for Q4 2020 and other Namibian drills are planned. What a fantastic deal for new investors and the Directors. GLA
You have to question the motivation of Geowiz to continually post on Global Petroleum when he/she does not own shares. I think we can quickly discount altruism, the tone of his/her messages indicates a degree of righteousness. Overall, it is likely that Geowiz just enjoys schadenfreude, it is clear for all of Geowiz's posts, he / she has over looked the obvious, the biographies of the Board. Most of the directors are seasoned oil professionals who own 40% + of GBP shares. How can any rational person conclude that the Peters will allow the company which they have spent over 26 years of their lives working on just fade away when offshore Namibia is on the verge of drilling activity undertaken by some of the world's largest oil companies. I wish Geowiz well, hopefully he/she can find something more fulfilling to do with their time.
There are times when comments on Share Chat Pages over step the mark, I would say that Geowiz's post this morning did just that. Geowiz, I hope that no one from Panmure reads this chat page, your comment may be regarded as defamatory.
"Leg ache one would hope Panmure are aware of the significance of getting the PEL29 extension. Who knows" - Geowiz , you are now questioning Panmure's Broker Note, really! This is an open forum so everyone is free to post but it is very strange that you continually post on this chat page when you don't own shares. During the last 30 days, 30 out of 67 of your posts have been on Global Petroleum, you appear to be obsessed with the company, is there a reason why you are so transfixed by Global Petroleum?
Absolutely.....as each day goes by GBP's cash dwindles and as we all know "cash is king". I'm with you Bishop190, a cash raise is probably on the way, I will be happy to increase my family's GBP shareholdings in a capital raise. Looking at today, I think the MM's will take the SP down to 1.00p - 1.10p. GLA.
Just to be clear, I did not sell all of my family's GBP holdings today, I sold some of my GBP shares invested in my SIPP. In recent months, I have taken the opportunity to sell a few GBP shares in my ISA accounts but overall my family's holdings are still largely in tact. "Cash is king" & that's why I have been trimming my GBP holdings, I see a capital raising coming hence I thought it appropriate to increase cash balances in readiness. Fwiw, I think the license extension is a given & I hope that we will receive confirmation of this in the next 4 - 6 weeks. GLA
Marmited - keep in mind that Geowiz has admitted that he/she does not own any Global Petroleum shares and yet there is a continual flow of negative posts. He/she clearly has an agenda, given the latest trading volumes you would have to conclude that despite all the digs & put downs, the SP is unaffected. News will start to flow in September imo. GLA.
Deliberately misspelling someone's name, then going on to sow more seeds of doubt regarding GBP and ending with a classic ..."Maybe they should merge with Tower", how low can one go? Something tells me that holders of GBP shares understand the risks of the company and are comfortable with those risks, derampers continue to weave their mischief whilst we await news. GLA.
" I think 29 is a great block it has a CPR confirmation also unlike 29 but it is at the very end of its term of 8 years that’s why we are nervous". "We" - who are your referring to? You need to remember that you told us months ago that you do not own shares in Global Petroleum. Continually posting on a share that you do not own, you clearly have an agenda. GLA.