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Could we even get another placing? There's certainly been a lot of volume the last two weeks.

There was this one from TRP earlier also.

https://investegate.co.uk/tower-resources-plc--trp-/rns/namibia-update-and-statement-re--graff-1-well/202202070700078129A/

Graff-1 is definitely a boost for Namibian stocks in general, but both GBP and TRP's licences are much further away from Graff-1 than ECO's licences and unlike ECO neither of them actually have acreage in the Orange Basin or even the one next to it, the Luderitz Basin. IMO the Graff-1 news is significantly more relevant to ECO whilst the read across to GBP and TRP is more speculative.

There was this one from TRP earlier also.

https://investegate.co.uk/tower-resources-plc--trp-/rns/namibia-update-and-statement-re--graff-1-well/202202070700078129A/

Graff-1 is definitely a boost for Namibian stocks in general, but both GBP and TRP's licences are much further away from Graff-1 than ECO's licences and unlike ECO neither of them actually have acreage in the Orange Basin or even the one next to it, the Luderitz Basin. IMO the Graff-1 news is significantly more relevant to ECO whilst the read across to GBP and TRP is more speculative.

Nathan, today's GBP RNS states, 'Graff-1 deep-water exploration well [is] in the Orange Basin' whilst GBP's 'PEL 94, [is] further north in the Walvis Basin'.

https://investegate.co.uk/global-petroleum-ltd--gbp-/rns/namibia-update---significance-of-graff-1-well/202202071221169124A/

You can see from the following image that there is in fact an entire geological basin between Graff-1's Orange Basin and GBP's Walvis Basin, the Luderitz Basin.

https://slideplayer.com/slide/12727160/76/images/4/Onshore+%26+Offshore+Basins.jpg

For the record, much of the Orange Basin is actually in South African waters, which is even further away from GBP's acreage. Graff-1 is definitely positive for GBP, but we need to keep it in perspective and get the facts right.

Nathan, today's GBP RNS states, 'Graff-1 deep-water exploration well [is] in the Orange Basin' whilst GBP's 'PEL 94, [is] further north in the Walvis Basin'.

https://investegate.co.uk/global-petroleum-ltd--gbp-/rns/namibia-update---significance-of-graff-1-well/202202071221169124A/

You can see from the following image that there is in fact an entire geological basin between Graff-1's Orange Basin and GBP's Walvis Basin, the Luderitz Basin.

https://slideplayer.com/slide/12727160/76/images/4/Onshore+%26+Offshore+Basins.jpg

For the record, much of the Orange Basin is actually in South African waters, which is even further away from GBP's acreage. Graff-1 is definitely positive for GBP, but we need to keep it in perspective and get the facts right.

GBP is not the same basin. It's two away.

'approximately 1,000km north of the Graff-1 discovery'
' Global's model predicts'
'This source rock has been proven IN THE ORANGE BASIN'

I'm also wondering if they will look to farm out Gazania. I imagine there must be quite a bit of interest.

Some keen buying today. Someone's taken 100K shares at the day high of 30.80p. Looks like the market is finally starting to wake up. About time.

I agree James. Economics is key and these flow rates seem low. Talking of horizontal multi frac wells is all well and good, but they are very expensive so need high enough flow rates to justify cost. The number of wells and CAPEX to get this into production would also surely be huge. This may indeed all be feasible, but at £800M market cap I would like more reassurance of economics. GLA

Very hard to buy this morning until SP went over 30p.

Up 8.3% in Canada to C$0.52 or 30.1p. Another day like that and it'll be the highest close in two years. Looking good.

No probs Spike. Easy to miss.

7 leads and 2 prospects.

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

That's the highest since Oct 25, which was prior to the Sapote-1 result. Good.

That will be very interesting. Venus-1 is outboard of Graff-1 and significantly bigger in size. We're talking 600km2, which is massive.

You bandy about the 2.9B figure without qualifying exactly what it represents whilst I point out the actual details from the company's own RNS.

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

As always, it's important for investors to look at the details to understand what a company is talking about rather than be blinded by a rampy headline numbers on bulletin boards.

That 2.9 billion figure is a bit misleading without qualification. Almost all of that figure is low to very low COS (6-11%) leads, i.e. not even classed as prospects. There are only two actual prospects of which only Marula has a reasonable COS at 22% and is 210 MMB on a 2U basis. I personally would focus on that and ignore the the rest of that 2.9B figure completely. Marula is far from the most attractive prospect ever seen and is a very long way from the nearest discovery, but for a company the size of GBP it's a reasonable chance. ATB

Why do you assume a farm out will happen within a specific time frame? The success and timing of farm outs is extremely unpredictable. GBP could be waiting ten days or ten years. It's impossible to predict. The Venus-1 result will have increased the odds a bit for GBP, but we have to appreciate that the acreage is 1000km or more away from Graff-1 and in a different geological basin. Plenty of much closer acreage to look at first. It's more likely that Monecor continues to sell and GBP does another placing into this volume IMO.

Why do you assume a farm out will happen within a specific time frame? The success and timing of farm outs is extremely unpredictable. GBP could be waiting ten days or ten years. It's impossible to predict. The Venus-1 result will have increased the odds a bit for GBP, but we have to appreciate that the acreage is 1000km or more away from Graff-1 and in a different geological basin. Plenty of much closer acreage to look at first. It's more likely that Monecor continues to sell and GBP does another placing into this volume IMO.