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Having been invested since 2011, it is satisfying to see the market finally re - rating SQZ. Quality management creates shareholder value in my experience, when I read the biographies of the BoD back in 2011, I thought that this team would deliver, the numbers now speak for themselves.
I'm off for a few days break in Yorkshire, will check my phone from time to time to see how the SP is doing. I'm hopeful of a "2 handle" by the end of this week.
GLA.
Geowiz - Impossible question to answer, unless you are on the GBP Board or a former GBP employee. Are you are a former GBP employee who has the answer?
The Company completed some time ago its work commitments under the current licence sub-period, which expires in September 2021. Having done so, the Company announced on 10 August 2021 that the Ministry of Mines and Energy ("Ministry") had agreed to Global's proposal to enter into the next licence sub-period, from September 2021 to September 2022. The work commitment for the next sub-period is to acquire and process 2,000 square kilometres of 3D seismic data, a commitment which Global expects to fulfil via a farmout. GBP RNS 12 August 2021
I participated in the November 2013 Rights Issue @ 18.0p per share, seeing the share price close today at 181p is a very satisfying moment for me. Resisting the (daily!) calls from my wife to sell our SQZ shares, I'm looking forward reading the H1 2021 results and continuing the journey of being a Serica Energy Shareholder.
GLA.
I would hope that GBP has £1.5 million + in cash. Directors salaries have been cut this year, Peter Blakey sadly passing away & the retirement of Peter Taylor.
GBP has raised £2 million during the last five months.
GLA
That is the question, has Monecor cleared ??
Large sells went through today, are there more to come?
RNS awaited.
The last line of today's RNS is interesting ....."we wish him the very best in his future endeavours", so Peter Taylor is retiring from the BoD of GBP but not business life?
Or does this pave the way for GBP to be sold / merged now that the two founders (Peter Blakey RIP) are no longer on the Board?
Time will tell.
GLA
I decided to top up this morning @ 390p in my ISA. I see this as hold, I'd like to sell at 500p but I can see this getting to 450p & then sticking. Hopefully increasing dividends will enhance the returns.
GLA.
I've been pondering this, Geowiz, are you a Geology "expert" or a Geology "wizard"? That could explain why you deramp small oil companies on LSE, the bit I can't work out is that you focus a lot of your vitriol on Global Petroleum, a company which you claim to not hold shares in, why? Did you work for GBP in the past?
Geowiz - Italian lawyers won't be paid 10 euros an hour, GBP had four Italian license applications and had to attend a number of tribunals, oil companies will be able to claim compensation, good luck to Rockhopper with their claim. Italy is a sideshow, GBP has raised £2 million in the last 4 months, so no pressing need to pursue Italian compensation.
You deramp TRP and yet you've said in the past that you own TRP shares, doubts are starting to creep in as to whether you do own TRP & Char shares. The wider question is why are you so negative about small oil companies, what compels you to deramp so many oil shares?
The focus is now on Total & Shell drilling in offshore Namibia, exciting times.
Indeed, keep in mind Peter Hill is an Oxford educated Lawyer who worked at City Law firm, Clifford Chance. I would have thought that he was ideally placed to evaluate the merits (or otherwise) of a potential claim against the Italian Government on a "no win, no fee" basis.
Step one, hopefully arbitration finds in favour of Rockhopper.
GLA.
Hi Wraith,
I have not been able to find out how much GBP has spent to date on its Italian Offshore PEL Applications, what we do know is that GBP had to send lawyers to a number of Tribunals to prevent its PEL Applications from being struck out. Engaging lawyers does not come cheap in my experience, there is the additional twist that unless Peter Hill is fluent in Italian, interpreters might have been required, the costs keep rising.
Cross fingers that Rockhopper get a positive result on their case, that would set up the interesting prospect of GBP being able to claim hundreds of thousands or possibly millions of Euros in compensation. We could add that compensation to the £2 million raised during the last four months!
GLA.
Good morning Geowiz,
"Its got another 12 months doing zip" - With Total and Shell drilling in offshore Namibia in Q3/Q4 2021 & an farm out process ongoing, I would expect GBP to be occupied.
"Maybe get a tick up if Total ever moblise a rig" - Total have confirmed several times that they are drilling Block 2913B, are you questioning the word of one of the world's largest oil companies?
"It does however have a 3D commitment to fulfil and there's no chance of raising that amount of cash" You are back to peddling that false narrative again, GBP have said time and time again that the 3D seismic survey will be carried out by a farm out partner, please see RNS dated 12th August 2021......"The work commitment for the next sub-period is to acquire and process 2,000 square kilometres of 3D seismic data, a commitment which Global expects to fulfil via a farmout."
Your deramps over the years have been predicting the demise of GBP and yet during the last four months, GBP has raised £2 million in cash and extended its Namibian Offshore PEL, there is also the matter of a possible financial claim being lodged against the Italian Government in respect of its aborted Italian Offshore License applications (that could be more cash arriving!)
I can't figure you out Geowiz, you deramp numerous small oil companies but you appear to harbor an extra dislike for GBP but you've admitted that you don't own shares in GBP. Would it be correct to assume that you are a disgruntled former employee?
If I may just turn your closing sentence against you....."So days are numbered for sure", I think that applies to you as a deramper on GBP Geowiz because we are just a few short months from Total and Shell drilling in one of the world's last frontier oil regions, you must be dreading those drills finding oil or working petroleum systems. You might want to consider buying some shares.
GLA.
GZola25 - You are clearly not aware that the Italian Government stopped oil exploration in its territorial waters a number of years ago & therefore your "failed to deliver Italy" comment is wide of the mark.
"Why would the future be any brighter"? Don't you do any research before deramping a share?
GZola25 has scored an own goal with his/her first deramping LSE post.
GLA
Interesting, jonesrichard has posted 21 times on Tower Resources (TRP) during the last 30 days. This afternoon's posts were absolutely priceless.
Earlier on this year when things were very quiet on this GBP Chat Page, I thought to myself, once the Majors announce drilling plans for offshore Namibia, I bet that the Chat Page turns in to a bit of a circus.....
GLA
Market Makers are smart, drop the bid, some PI's will sell.
Roll on September.
"Ok thanks for confirming, so no huge catalysts this year for the sp to really take off?" jonesrichard 19 August 2021.
That was hilarious.
Excellent news, thanks for posting Phoebus.
There we have it, two Majors drilling in offshore Namibia in H2 2021.
I wonder what Geowiz and his / her cohorts will come up with now?
GLA
I think the dip will come from tomorrow onwards following the admission of 200 million new shares to the AIM listing. Monecor (London) Limited will probably start selling down some of its shares, the question is how many shares will be sold & at what price?
GLA