Member Info for MisterPositive

4-5p very much possible with only 870m shares.

Charlie
Agree. Global Petroleum currently treated as a cash shell with NO upside priced in of the potential 2.93 Billion barrels from their highly prospective licence P00094.

Farm-Out talks open in the background, especially after the 26 Jan 2021 resource upgrade, especially with Oil Super Majors flocking to Namibia as the new Oil frontier after recent Oil discoveries next door along South Africa coastline bordering Namibia.

Namibia is not on most investors’ radar, yet. But there is a reason why so many supermajors (EXXON, SHELL, TOTAL, QATAR PETROLEUM) are flocking to the region and flooding the area with exploration cash.

Bombshell results turned "Guyana" from an ignored and overlooked jurisdiction into one of the fastest-growing provinces in world resources. Now the same is hoped-for and expected in Namibia.

In September 2020, ExxonMobil announced its 18th major discovery in Guyana since setting up in May 2015, the Redtail-1 well adding significantly to XOM’s estimated recoverable resource of more than 8 billion barrels of oil equivalent on the Stabroek Block.

Veteran industry analysts suggest it is a no-brainer why the world’s largest oil companies are flocking to the booming frontier of Namibia...... costs are among the lowest in the region and petroleum income tax is low at 35%.

“We’ve always been a welcoming country,” NAMCOR managing director Immanuel Mulunga told a recent government oil and gas conference.

The country’s Petroleum Commissioner Maggy Shino, at the Ministry of Mines and Energy, added: “International oil companies trust Namibia’s legal framework that is in place and the ease of doing business. Namibia is a vast country and we’ve barely scratched the surface.”

“Total is planning to drill the first ultra-deepwater well in Namibia. It’s one of the most amazing prospects in terms of risk elements. We have high hopes.”

£320m market cap French producer Maurel et Prom (EPA:MAU) also plans to begin drilling in late 2021 or early 2022, while Royal Dutch Shell (LSE:RDSB) plans to drill in the Orange Basin at the southern extension of the Namibian water. “The next three years will be an interesting time for exploration,” Shino said.

In January 2021 the Company announced its updated Prospective Resources on its Namibian licence PEL0094. The inclusion of seven new leads, in addition to the Marula and Welwitschia Deep prospects, resulted in a threefold increase to 2,284 million barrels of Best Estimate (P50) Prospective Resources of oil net to Global, confirming the Company's view that the acreage is highly prospective.

Following this, Global then commenced a farm-out process, which is currently underway.

The Company has completed its work commitments under the current licence sub-period, which expires in September 2021. The commitment for the next sub-period is to shoot a 2,000 square km 3D seismic survey.

Namibia has seen multiple farm-ins or acquisitions completed since 2017 by companies such as Qatar Petroleum, Total, ONGC, Kosmos, and most notably ExxonMobil. Moreover, there are reported to be several highly prospective exploration wells planned in the coming months, notably Total's Venus-1 well, and Shell's well in PEL0039, both in Namibia's Orange Basin.

Venus is arguably the most closely followed new frontier wildcat, expected to be spudded in Q3 2021 by the French major Total. The actual drilling in Namibia’s offshore waters (Orange Sub-Basin, Block 2913B) might have happened earlier but apparently Total prioritized its drilling commitments in Angola, namely the Ondjaba-1 well using the Maersk Voyager ultra-deepwater drillship. The geological specificities of the Venus prospect force an analogy with Brazil’s ultra-deepwater, although the Namibian prospect lies in water depths of 2.5-3km, i.e. much deeper than Brazil’s Campos Basin. The operator Total holds a 40% interest in the block, teamed up by Qatar Petroleum (30%), Impact (20%) and NAMCOR (10%). Preliminary estimates of recoverable oil reserves vary between 1.5-2 Bbbls, if the drilling of Venus-1 turns out to be commercial it will inevitably bring about the emergence of another offshore oil frontier in Southern Africa following Total’s Brulpadda discovery.

From 17 Dec 2020 RNS...

"The Company is also pleased to confirm that the farm out process for PEL0094 has now commenced. Global is currently contacting potentially interested companies and the data rooms will open in January 2021."

From 26 Jan 2021 RNS...

"Global Petroleum Limited (AIM: GBP) is pleased to announce its updated estimate of Prospective Resources for PEL0094 (Block 2011A), offshore Namibia, following interpretation of the 2D seismic data which the Company recently licensed. Global holds a working interest of 78 per cent in PEL0094, and is operator.

The additional Prospective Resources, which are in the east of PEL0094, consist of 7 new leads with a total unrisked gross Prospective Resources (Best Estimate) of 2,048 million barrels of oil ("barrels"). As previously reported in July 2020, the pre-existing prospects - Marula and Welwitschia Deep - contain a total of 881 million barrels, making a new total on the licence of 2,929 million barrels unrisked gross Prospective Resources (Best Estimate)."

https://www.investegate.co.uk/global-petroleum-ltd--gbp-/rns/updated-prospective-resources-estimate---pel0094/202101260700028225M/

Potential 120 Billion barrels was estimate provided by Reconnaissance Energy Africa Ltd for their Namibia acreage not Global Petroleum.

Thats 4 PME RNS..all in the afternoon....hmm

Updates coming next week i think.

Interesting....good detective work.

New incoming President being Oxford graduate.

Total shares in issue:

CLON 871 million
KOD 15.5 Billion

Above illustrates the point of always focus on Mcap and not just share price.

Just £10m Mcap at CLON would be 1.15p

This should gradually build toward 1.50 again ahead of drill reults that can come anytime.

Traders run the risk of getting back in higher.

Each to their own.

KOD Mcap tripled in a week on strong momentum. For that to happen here, this would be at 1.20p with far less shares in issue at CLON.

Dont we surprised if this hits +1p on strong momentum in coming weeks.

or higher should be here next week i think and still would be crazy low Mcap....

ahead of Bolivia Lithium 49% JV partner news.

For CLON to also hit £50m MCap....like KOD,
price here would be about 15 Bags at 5.7p

I will be happy to take Half of that.

CLON is still way too cheap at £3.4m MCAP.

KOD was stuck for a long time also and then Boom went to hit £56m MCap.

Wow.....Monecor Limited gone over 9%

Sam12345
Just focus on the MCap....only £3m ???
Not price.

* look at historical results (not post).

George2244
In addition to my KOD holding, i have also spread out to CLON (lithium) and GBP (oil) both at only £3m MCAP only?

VAST i sold before the share restructuring and bought back post share consolidation.

64% drop from 1.95p down to 0.70 was excessive on the back of IAMGOLD falling bit short of their year 3 drill programme.

Fast forward to today. IAMGOLD back on track for year 4 extended drill programme with both RC and Diamond drilling to incorporate year 3 drilling shortfall also. One needs to post historical results from "FARE" again to know why IAMGOLD are keen to earn in 51% of SENALA.

Cameroon results should come back to back.
Also Thani Djibouti results due.
Also Thani Stratex- Egypt drill updates by Red Sea

So a lot getting packed in for coming weeks. This should be back at 1.50 or higher soon.