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I'm not deramping, I'm being objective. In the current climate, and on the back success of Graff and Venus, the probability of securing a farm in partner is pretty high IMO.
However it isn't risk free by any means. If there was an absence of risk then the share price would be a lot higher than it currently is.
Well I guess Geowiz has a point. All Global have is a license agreement that may or may not be extended. If Global don't extend the license then we're **** Out Of Luck.
On paper that's all Global have.
But in the real world, a new petroleum district has opened up in front of our own eyes. In the middle of a global energy crisis.
Well basically it's a very high risk, very high reward investment. It's not for widows or orphans.
I don't really like the culture of the company. They have a huge disdain for the shareholders. But having said that, they might of lucked out big time.
They're sitting on a reasonably peachy Namibian prospect. Not the best, but a seat at the table non the less.
Overnight Namibia has become THE hottest property in the oil industry. AND they've managed to do it amid a global energy crisis.
Like I said, it's not an investment for widows or orphans. But the odds of someone taking a punt on us must be pretty high I would think.
It might not be a super major, more likely a mid-cap. Well obviously it might not happen. It is a ****ty company run by a bunch of lifestyle muppets. But surely even a bunch of lifestyle muppets will realise that they're sitting on a golden goose.
Well they're hosting an investment Webinar via Zoom for interested parties at 3pm today as it happens:
https://us5.campaign-archive.com/?u=de005c9abee16f0ec5f4146b9&id=87c9c98601
Nothing in regards to the licence extension though. I assume that they're confident about having the license extended beyond September as they wouldn't be seeking a farmout partner in the first place.
Also the progress of the farm in talks hasn't been communicated to the market. It's taken some sleuthing of PVE Consulting's website to determine the schedule.
A simple 5 minute interview would of helped to relay these fears, that's all.
It's difficult to be that 'positive' towards a share you're 30% down in after only two weeks. But I have no illusions as why it has fallen. It's a pretty risky play and the BOD don't really communicate with their shareholders.
Still despite the negatives, I can't really see anyone bottling what is a golden goose. A license with the same source rock of one of the biggest oil discoveries in 20 years MUST surely pique the interests of someone.
Too many unanswered questions regarding the licence combined with poor communication from the company in general.
Still should they pull it off a farm in deal then we're talking a share price well into the pennies. However it's not an 'investment' as such, but a bet. One that, in my opinion anyway, has favorable odds.
Again with the gibberish. Go back to your Union Jack emoji encrusted cesspit of a Twitter profile. Your nonsense might be more appreciated there.
Oh and I HAVE bought in. Should of waited for a lower price but that's life. I haven't mislead anyone. I just called someone out for posting unsubstantiated rumors.
Or they've had expressions of interest, but no firm offers. The RNS on the 9th of November alluded to 'potentially interested parties'.
https://www.lse.co.uk/rns/GBP/re-appointment-of-advisor-ex83ocdazen20zb.html
Tried to correct the formatting:
In light of recent events, notably the Graff and Venus discoveries, Global Petroleum has decided to extend the date for PEL 94 farm-out bids from 31st March to 30th April 2022. The original timetable assumed Venus and Graff well results by
mid-January.
It is obvious that both discoveries are game changing in terms of generating interest in offshore Namibian exploration taken as a whole.
Our view is therefore that companies, particularly potential new entrants to Namibia, will need extra time to understand the geology and petroleum systems offshore - we have in mind in particular the commonality of both source type (Aptian Kudu Shale) and reservoir (Cretaceous) between Graff/Venus and PEL 94.
PVE provided an explanation in the PDF file on their website:
http://www.pveconsulting.co.uk/images/Schedule%20Update%20-%20Namibia%20PEL%2094%20Investment%20Opportunity.pdf
"In light of recent events, notably the Graff and Venus
discoveries, Global Petroleum has decided to extend the date
for PEL 94 farm-out bids from 31st March to 30th April 2022.
The original timetable assumed Venus and Graff well results by
mid-January.
It is obvious that both discoveries are game changing in terms
of generating interest in offshore Namibian exploration taken as
a whole.
Our view is therefore that companies, particularly potential new
entrants to Namibia, will need extra time to understand the
geology and petroleum systems offshore - we have in mind in
particular the commonality of both source type (Aptian Kudu
Shale) and reservoir (Cretaceous) between Graff/Venus and
PEL 94."