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Today's Interim Results completely trashes Geowiz's false narratives regarding PEL 94 :-
"The recent drilling successes in the Orange Basin are expected to bring a very strong boost to both industry and investor confidence in relation to Namibian offshore exploration generally. Global believes it is well positioned to benefit from this, and the Company is continuing with its farm-out process to fund the next stage of exploration on its licence".
I hope you are right copperpb, details of the special dividend distribution would be appreciated.
No Geowiz - just using facts, namely the 2021 Global Petroleum Annual Report August 2021, to rubbish your false narrative.
Smart move for you to back down discrediting a lawyer, I seem to recall a company a few years ago taking legal action against a Share Chat Poster who was posting false narratives, you might want to check that out.
Why do you always evade the question, do you own Global Petroleum shares?
Some would say that Geowiz deramps too much!
Bishop 190 - the reason behind mentioning that Peter Hill is a former Clifford Chance Lawyer is that Lawyers in my experience do quite rightly take great exception to having what they have written / said being discredited by others. What Geowiz has done recently is cast dispersions on matters relating to the extension of PEL 94 mentioned in the 2021 Global Petroleum Annual Report - August 2021, this is potentially a matter for Mr Hill and the Directors of Global Petroleum, I await Geowiz's reply to the question put to him/her earlier on today.
I agree Bishop 190 with your final sentence but as I understand things, Shell and Total have not disclosed any detailed information on Graff 1 and Venus 1, I recall reading that potential PEL 94 Farm in partners were awaiting the results of Graff 1 and Venus 1 before deciding their next course of action.
Spike66 - A Sales / Bidding process is run on strict protocols, the first of which is the Seller / Bidding Entity providing what is called "Reps & Warranties" on the legal ownership of assets to be sold / bid on.
Let's keep in mind something, Peter Hill is a former Clifford Chance trained lawyer, based on my experiences of dealing with Clifford Chance lawyers, they are meticulous. I wonder if Geowiz is prepared to discredit the word of Peter Hill / or the author of the 2021 GBP Annual Report - August 2021?
Geowiz - "hysterical protestations", I have been posting quotes from the GBP 2021 Annual Report, what is the source of your of information to back up your assertions?
Interesting that you should mention PEL 0029 because the GBP specifically references that in the quote that confirms that the company is confident of obtaining a 1 year extension to PEL 0094 :-
"The Company expects to be able to secure a further one-year extension to the Initial Exploration Period (to September 2023) if necessary, based on the precedent of PEL0029 and that of other companies holding exploration licences offshore Namibia".
Geowiz - are you trying to discredit the word of Peter Hill - GBP Chief Executive & Manging Director &/or the author of the GBP 2021 Annual Report? It is a simple question, the answer is either yes or no.
Secondly, I have lost count the number of times that you have been asked whether you own shares in Global Petroleum, here goes again, do you own shares in Global Petroleum?
I see that you have been active deramping Block Energy P. (BLOE) in the last few days, is that because it is a micro cap AIM listed oil company by any chance?
I see mpd12 ".....my 1am post that admittedly was written after consuming 5 pints of Strongbow and a shot of Tia Maria".
You are failing to grasp the concept of what a PEL extension is, what it means is that the licence is extended for a further period on its CURRENT TERMS, in the case of GBP's PEL 94 that means that is extended until September 2023. I will repeat what I asked you before, are you discrediting what has been written in the 2021 GBP Annual Report ? It is a simple question, the answer is either Yes or No?
I would respectfully suggest that you take care of what you write on public forums.
Thank you for confirming you are a GBP shareholder, this is something that Geowiz has refused to confirm during the last four years. I am puzzled as to why someone with 2.4 million GBP shares is not fully cognizant of the terms on which its key asset (namely, PEL 94) is held.
GLA.
mpd12 - You seem to be shifting your position from your post in the early hours of this morning, one minute you are questioning whether PEL 94 is going to be extended in September 2022 (the 2021 GBP Annual Report is explicit on this issue) and the next you are saying that there is a highly probability of securing a farm in partner, make your mind up.
Btw, do you own Global Petroleum shares?
Geowiz and mpd12 - How many English lessons did you miss at school?
Posted below is the key sentence from the GBP August 2021 Annual Report :-
"The Company expects to be able to secure a further one-year extension to the Initial Exploration Period (to September 2023) if necessary, based on the precedent of PEL0029 and that of other companies holding exploration licences offshore Namibia"
You both need to understand the term "based on the precedents..." It is highly likely that Peter Hill - Chief Executive & Managing Director of Global Petroleum wrote the GBP 2021 Annual Report, are you both discrediting the word of a former Clifford Chance Lawyer?
Btw Geowiz - you have still not answered the question put to you on several occasions, do you now own Global Petroleum shares?
mpd12 - May I suggest that before you deramp why not do some research or at the very least read the previous posts of the share that you are about to deramp?
Unbelievable.
From the Annual Report: August 2021 - post the reporting period - "Global notified the Ministry of its intention to enter into the remaining one year of the Initial Exploration Period, expiring in September 2022. The commitment for this period is to shoot a new 2,000 square kilometre 3D seismic data survey, which the Company intends to fund via a farm-out. The Company expects to be able to secure a further one-year extension to the Initial Exploration Period (to September 2023) if necessary, based on the precedent of PEL0029 and that of other companies holding exploration licences offshore Namibia".
The inconvenient truth.
Geowiz won't answer the simple question whether he / she owns GBP shares but I see that he / she has been deramping the BLOE Chat Page again today.
Really pleasing to end this week having disproved Geowiz's false narrative regarding GBP's PEL 94, the 2021 Annual Report makes it absolutely clear that the company is confident that the license will be extended until September 2023 as this would be line with previous NAMCOR precedents.
GLA.
tsbs1 - Your post regarding Geowiz which ends "its beyond strange", well I have to say that Geowiz has been haunting the Global Petroleum (GBP) Chat page for the last 4 to 5 years, all the posts on GBP are negative. The question that he/she continually ducks is does he/she actually own GBP shares, the same question arises with regards to BLOE I guess. Geowiz dropped his/her guard last year on the LSE GBP Chat Page by quipping something along the lines if a share price falls below a certain level it is then worth a "punt", if you click on the Geowiz's username, you will see that he/she posts the most on GBP and BLOE, one can only ponder whether he/she has a vendetta against both companies?
A false narrative that Geowiz has been peddling for months regarding GBP's PEL94 and been proved to be absolute nonsense this week (please read the GBP posts if you are interested).
I wish all BLOE shareholders well.
Geowiz - I see that you have been hard at work on the Block Energy (BLOE) LSE Chat page today. What do you have against GBP and BLOE? Some may argue that you might have a grudge against them, can you enlighten as to the reasons why you appear to so vexed?
GLA
Geowiz - I thought the answer to your question was clearly set out in the 2021 Annual Report, here goes again :-
"The Company expects to be able to secure a further one-year extension to the Initial Exploration Period (to September 2023) if necessary, based on the precedent of PEL0029 and that of other companies holding exploration licences offshore Namibia."
So Global Petroleum are explicit on the PEL 94 extension. Can you answer a question, have you now bought shares in Global Petroleum or are you waiting for the share price to fall further to take a "punt"? It's a simple question.
Deutsche share price target for Abrdn:-
2 March - £2.75
16 March - £2.30
24 March - £2.35
Deutsche, please stick to a SP target.
Good morning Geowiz - For absolute clarity, let's re-read the words from the 2021 GBP Annual Report:-
"From the Annual Report: August 2021 - post the reporting period - Global notified the Ministry of its intention to enter into the remaining one year of the Initial Exploration Period, expiring in September 2022. The commitment for this period is to shoot a new 2,000 square kilometre 3D seismic data survey, which the Company intends to fund via a farm-out. The Company expects to be able to secure a further one-year extension to the Initial Exploration Period (to September 2023) if necessary, based on the precedent of PEL0029 and that of other companies holding exploration licences offshore Namibia."
Has the Market fully appreciated the significance of the above, probably not but time will tell, this is an AIM stock.
You probably want to take care about trying to discredit the statement in the 2021 Annual Report, it was probably written by Peter Hill. Just to remind you, his biography states that he is a former Clifford Chance trained lawyer.
GLA.
I see from Abrdn Short Positions tab that GLG Partners and Citadel Advisors are shorting 2.25% of the stock, the ball is in Mr Bird's court to start delivering positive results, the share price a year ago was £3.00 +
I'm obliged to a poster on another Chat Site for the following:-
"From the Annual Report: August 2021 - post the reporting period - Global notified the Ministry of its intention to enter into the remaining one year of the Initial Exploration Period, expiring in September 2022. The commitment for this period is to shoot a new 2,000 square kilometre 3D seismic data survey, which the Company intends to fund via a farm-out. The Company expects to be able to secure a further one-year extension to the Initial Exploration Period (to September 2023) if necessary, based on the precedent of PEL0029 and that of other companies holding exploration licences offshore Namibia."
So there we have it, Geowiz has been constantly deramping GBP and spreading the false narrative regarding GBP's PEL 94. As I have previously posted, in order to run a Sales / Bidding process, there needs to be a pre qualification of a company's assets. Shell and Total have issued brief information on Graff 1 and Venus 1 finds, it is just a question of time before they reveal the true extent of their Namibian oil & gas finds.
GLA.
The Board are still pondering how to distribute £0.3 billion of shareholders cash, money which was received in January 2022 and here we are nearing the end of March 2022 and there is still no word on when Abrdn shareholders will receive their cash.....this is a disgrace.