Global Petroleum Live Discussion

Godspeed1 31 Oct 2018

New licence applications Same price currently to sell 1M or 100k @ 1.625p online Very unusual for this small free float stock

Godspeed1 28 Oct 2018

New licence applications New licence application news due soon in Namibia regarding the 4 blocks adjacent to GBP & Eco, one of which has already gone to GBP last month Be interesting to see who are moving the area ? [link]

preciousmaj 17 Jun 2018

Ocean Rig drillship mobilized to Tullow’s well off Namibia I posted this on the LSE share chat: To give balance the share awards have been granted for a few years. The bonus scheme was created after the May 2015 update resulting in the directors taking a 50% cut in salaries. I would rather they have shares so that they have skin in the game. Their interests are therefore aligned with shareholders. 2015 update: “Further to an in-depth review with due consideration of the strategy, the portfolio and current market conditions, the Board has deemed it financially prudent to reduce its overall remuneration by 50%. This reduction will result in a net cash saving of c.US$1.5m over the course of the next year, serving to both protect the Company’s cash position and maintain Chariot’s financial flexibility.”

preciousmaj 17 Jun 2018

Ocean Rig drillship mobilized to Tullow’s well off Namibia I am allowed to tag GBP thanks it’s funny how you used to come on the CHAR board and try to big up GBP regularly but when it’s reversed you can’t handle it.

Godspeed1 17 Jun 2018

Ocean Rig drillship mobilized to Tullow’s well off Namibia Absolute disgrace Grant of deferred share awards what for? How to destroy share value for loyal retail investors. Larry should be awarded a deferred P45. Amazing

Godspeed1 17 Jun 2018

Ocean Rig drillship mobilized to Tullow’s well off Namibia Pre, I have asked you plenty of questions, that you have not answered Why don’t you bugger off to the Char thread, some have better things to do than listen to your drivel

preciousmaj 14 Jun 2018

Ocean Rig drillship mobilized to Tullow’s well off Namibia You’re not answering the following: Do you have any evidence to back up that there is a penalty to pay and this would be greater than the cost of drilling the well? You made a false statement, if this was factual then you would be able to back it up with evidence. I am not talking about the licence terms or anything in regards to the commitment well. You specifically stated that there would be a penalty to pay and said that this would be greater than the cost of drilling the well - this is what I am asking clarification for. You don’t work for me but you may want to correct yourself as posting false or misleading information may constitute market abuse.

Spitfire 14 Jun 2018

Ocean Rig drillship mobilized to Tullow’s well off Namibia You did not say that Coland… you stated clearly there was a penalty to pay likely greater than a well cost if they did not drill on the block in their commitment timeframe. Here’s your words… “ If they don’t drill they have to pay a penalty that is probably greater than the cost cost of drilling the well, or close enough that it makes drilling a worthwhile gamble.” (SIC)

coland 14 Jun 2018

Ocean Rig drillship mobilized to Tullow’s well off Namibia It is in the licence terms that you can locate yourself - I don’t work for you. I know that this is a commitment well, if you choose not to believe me because you don’t want to do the research that is your right. Don’t want to get into a back and forth here. You disagree, no problem.

preciousmaj 14 Jun 2018

Ocean Rig drillship mobilized to Tullow’s well off Namibia coland: The license terms are probably publicly available - dig them out yourself. I do know that there is a well commitment in place here (and is an extremely common term in any block licence). You have made a statement so should be able to back it up, how can I find information that doesn’t even exist? I suggest that you research and clarify the information that you are sharing before doing so in the future.

coland 14 Jun 2018

Ocean Rig drillship mobilized to Tullow’s well off Namibia The license terms are probably publicly available - dig them out yourself. I do know that there is a well commitment in place here (and is an extremely common term in any block licence).

Spitfire 14 Jun 2018

Ocean Rig drillship mobilized to Tullow’s well off Namibia And there would be no financial penalty if they did not drill the prospect … just simple licence relinquishment that is all… All Iicenses work that way, you have a commitment in a set period, if you don’t commit , you lose it…

Spitfire 14 Jun 2018

Ocean Rig drillship mobilized to Tullow’s well off Namibia Hi Coland, yes I realise the licence obligation and I know this was a very close fiscal decision for tullow, I believe the drill commitment from tullow was only given at the very last minute after a number of extensions… they farmed in here in 2014 I believe. They obviously see it as a bigger strategic picture I would say. What I should have actually quantified was the partnering interest this block has seen with only a 15% cos… vs as of yet very little on Chariots 29% play…

preciousmaj 14 Jun 2018

Ocean Rig drillship mobilized to Tullow’s well off Namibia coland: If they don’t drill they have to pay a penalty that is probably greater than the cost cost of drilling the well, or close enough that it makes drilling a worthwhile gamble. Do you have any evidence to back up that there is a penalty to pay and this would be greater than the cost of drilling the well?

coland 14 Jun 2018

Ocean Rig drillship mobilized to Tullow’s well off Namibia You’re say gobsmacked Tullow is drilling a 15% play, but are you aware that Tullow has a legal obligation to drill a well as part of the license terms (a commitment well). If they don’t drill they have to pay a penalty that is probably greater than the cost cost of drilling the well, or close enough that it makes drilling a worthwhile gamble.