Member Info for MH01

Why will Newmont not want to sell this for half a million US dollars?

I bought 10mill at opening. Easy money.

If GBP is dealing (in discussions) with major oil companies then these will have to be face to face. Can’t be done via email, surely. Where is Omar living? Will meetings be held in Europe, Africa, or USA? Anyone have any ideas? A farm in with a major is a big deal whether it’s gold, oil, copper, etc so game changing if GBP can pull it off. On behalf of GBP I assume the company will have to pay a highly experienced industry consultant to negotiate on its behalf? Anyone have any ideas how this will be conducted?

We expecting Omar or the new CFO to front the camera this week and spread the story about GBP?

Institutional investors and the like need to hear directly from the company before deciding to invest. I dare say only PIs investing at the moment. Nobody has seen nor met Omar is appears which is very important to promote the company. If you want to reply rudely to my post please don’t. If you can say posts I disagree with than allow me to post an honest post. I’m not a kid who doesn’t know what investing it about. So spare me please.

Well capitalised is not the same as fully funded though. In the game of exploration it is a high spend activity with no income. If you look at page 15 and the cashflow statement, see the spend for the last 12 months to 30 June 2024.

$258k spent on the tenements and $644k spent on admin costs. Total spend $902k. So just 29% spent on actual important activities and 71% on overheads. For the next 12 months you would ideally like to see that switch to 70% on exploration. Unsure they will, but they have to spend more than 29% on exploration instead of wages, etc.

https://globalpetroleum.com.au/wp-content/uploads/2024/11/24-11-01-GBP-2024-Final-Results-FINAL.pdf

The company is funded for the presentation spend "if" a farm-in with the oil tenement occurs and the partner pays GBP a lump sum of money. If no funds come in via this route then the company will need to raise in 2025. That summarises it really.

Seriously, what a stupid post. I’m a regular Joe like anyone, but being an accountant means I need to know the numbers. Typical response lately to a valid chat about the current cash on hand. Standard question for every business on earth. Rational discussion not allowed in your world? Bury your head in the sand then.

Yes a raising is needed if they cannot farm-out the oil lease. That is the key for near term cash inflow. If that falls through Juno will need a raise to find it's plans as noted in the RNS's.

Update - the £600k has been found so the calcs are below, you're welcome.

Cash 30 June 2024 £150k (US$193k) as per today’s RNS.

Add raising before expenses Aug 2024 £250k +£600k (how much after expenses into the bank?)

Total cash (maximum) £150k + £250k + £600k = £1m.

Less: Payment to Callum Baxter £200k.

Less: Payment to Callum Baxter £50k.

Leaving £750k maximum in the bank, but, would be less due to the Aug2024 raising costs to deduct, the cost of the airborne geophysical survey, renewal of the Nambian lease, other costs.

Lets say £600k to £650k. Not bad.

Mumbo, can you please double check to see if you can find the £600,000 referred to today? I have looked through all of the announcements on the company website and cannot find it. Cash is King right so I was trying to do a rough estimate for myself and thought to share for the benefit of all. Cheers.

How do you know that I have not? Perhaps they just do not want to answer. Stop being a petulant child and engage in an adult conversation.

From today's RNS this part here I cannot support from prior RNS's:

EVENTS SUBSEQUENT TO REPORTING DATE

On 19 August 2024, the Company issued 1,307,692,308 fully paid ordinary shares following a placing and retail offer which raised £600,000 and £250,000, respectively.

The Aug2024 RNS I referenced earlier states £250k cash was raised before expenses but no mention of £600k cash.... so I assume the £600k from today's RNS is the value of the additional shares issued in lieu of expenses to various parties??

Cash 30 June 2024 £150k (US$193k) as per today’s RNS.

Add raising before expenses Aug 2024 £250k (how much after expenses into the bank?)

https://globalpetroleum.com.au/wp-content/uploads/2024/08/24-08-19-GBP-Result-of-Retail-Offer-FINAL.pdf

Total cash (maximum) £150k + £250k = £400k.

Less: Payment to Callum Baxter £200k.

https://globalpetroleum.com.au/wp-content/uploads/2024/09/24-09-12-GBP-RNS-completion-of-transaction-Final.pdf

Less: Payment to Callum Baxter £50k.

https://globalpetroleum.com.au/wp-content/uploads/2024/09/24-09-16-GBP-RNS-80-Option-Final.pdf

Leaving £150k maximum in the bank, but, would be less due to the Aug2024 raising costs to deduct and the cost of the airborne geophysical survey.

https://globalpetroleum.com.au/wp-content/uploads/2024/10/24-10-09-GBP-RNS-Site-Visit-and-Airbourne-Geophysical-Survey-completion.pdf

Warrants can be dilutive depending on the price. This company needs funding at some point like any business so either this fabled oil JV eventuates to provide an injection, or, a new placing is needed. This is where an interview from Omar would help as we can hear what he has to say. GGP and other companies interview on the day of their reports to explain them to shareholders, Omar should be doing the same.

Will Omar have an interview to discuss the report and upcoming catalysts?

They gave £250k to Callum. Plus other costs incurred in that time. If the farm-in in Africa does not eventuate that injects new monies, then a raise will be needed to fund Juno.

As of today… what from I know… following weeks of trying to obtain as much information as possible… this company has more red flags than a communist parade. I’m yet to be convinced otherwise.

The conclusion I have to reach is that NOBODY knows anything about the company other than the few things posted on an out of date company website. I have asked the most basic fundamental questions the last week.. and not just me, so have a few others too. Not one answer, just a barrage of abuse about wanting shares lower, being shorters, blah blah. You do know that anyone can read this board and based on the lack of information why would they want to invest? If it takes being Spy and his master skills to find anything out what the actual fook? Why? Google should tell me. Even ChatGPT doesn't know. Incredible. The chat here is dead silent until me or someone asks an actual question... then boom... get the attack dogs out! Not a ringing endorsement to invest is it.

We shouldn’t have to be “master spy’s” to find out data on publicly listed companies. Should all be easily found online.

A straight forward Google search should be sufficient to find out information about the director of any listed company. YouTube search. LinkedIn search. Twitter. Etc. if you can share then just share links instead of this stupid chat back and forth.