Member Info for maestro1

They gonna require upside STOIIP of 5 billion barrels and cos of over 30%. You are saying upside STOIIP of 1bn billion oil in all the licensed areas is sufficient, I don't think farmees will be interested in that at. The gemsbok prospect, needs to have serious amount of oil in place..

For over 3 years gbp have been valued under the cash in bank, this must be a record for a oil and gas company to do so for such a long time. This appears to look like a lifestyle run company for directors who are slowly drip feeding the cash out of company. I'm surprised shareholders didn't take them to court to return some of cash to shareholders like eme did. In 3 years they have wasted over £4m and shareholders got nothing in return.

Mkt open on Tuesday now, I must say eni must have completed drilling by now considering it was 45 day well. Aaog said they expected the large oil company to drill in nov. So surely must be really close or completed by now.

Ig Now you are sour you didn't buy in at 10p, rig will be signed in Jan..

Moving along nicely, rig will be secured by end of Jan.. IMHO

Good luck tomorrow Vince.

1bn barrels prospective?

Vince Fair do's what do you define as good cpr? Prospective resource 2bn? COS 30%?

You have to remember if gbp gets farm in partner they will not get a greater share than what pan got for their license which is larger area...

Oilspec CPR is not certain for this stock to explode, for 4 years this has been trading under cash, ask yourself why? One time £9 in cash but mkt cap just under 4m.

How much money do you think they have, don't forget the are going to receive $5m from the share of the license they sold, pancontinental.

placing or no placing hows that relevant to the rig, company has said numerous times they have enough to drill tlp103.. Next 2 weeks interesting...

Oilpec It's a valid point, I suppose long term holders will know more. It was Vinny that pointed out pancontinenral, they too listed in Australia. Pancontinental license is 40% bigger and then have other licenses unlike gbp. What makes this one more lucrative than pancontinental who are only valued at 12m and have a well which will have free carry, of which gbp have nothing at the moment and have been trading under cash for over 3 years...

Loz Rig signed? Hopefully in the next few weeks...

Buyers coming back in , hopefully rug signed within next 2 weeks...

I don't think he bought in placing but slightly higher, this is the reason for his constant negativity... Sore loser...

"D&M provided estimates for 11 oil leads in the PEL 37 licence area of total mean prospective resources of 8.7 billion barrels of oil" Thats a large resource for Pancontinental Oil and Gas and they also have a farm in partner, there mkt cap is equivalent to £12m. Some here were saying that 1bn barrels if oil in cpr would double or treble the mkt cap here, that will equal Pancontinentals mkt cap who are way ahead of Global pet in terms getting ready for drill.

this is where i believe the Rig is currently in use, the rig is new and has had a few upgrades to it, they too are drilling from onshore to offshore. So this rig will be up to international standard, our well is suppose to take 45 days, i think eni's the same, drilling is very close to conclusion me thinks.

jimbo If we dont get a update this week then it will definitely be next week due to the holidays, not one is expecting the licenses renewal to be concluded yet but it will be "in very near future" according to David Sefton, With regards to Rig, The large oil company and rig operator has said the rig will be available in jan, so by mid jan Aaog will know. I just believe ENI might be very close to finishing the drill at the M'boundi. imho

itsgambling "Due to the delays the licence is no longer economical so they need and extension. Workovers were "100% guaranteed" to provide income, de-risking the company as an investment." Weren't you and Jim saying the license wasn't long enough? Now you change your tune...imho 2 years they have plenty of time. Worth mentioning that the rig was suppose to be with them at 30th Sept, so its 3 months late not 1 year. I can assure you once the rig is available this will shoot up. They have a new team running the project, so they have put in a contingency plan just in case eni decide to drill another well, they admitted the old team should have put in contingency back in September. At least they are learning from their mistake... Workovers need more work, they will sit down and figure whether it will be economically viable for the sake of 250bopd or drill new well to test the mengo/djeno horizon. You are a funny guy, its best they conserve the cash for the transformational drill.