Global Petroleum (Ln:GBP)

Good Morning,

Today we hear that Global have confirmed the sale of the Eagle ford asset for $510,000 which is further cash into the coffers which sit at around £15m cash which means the company is trading below cash value!!!

Global Petroleum appear completely unloved as they are charted into frontier operations in Namibia however the risk of the E&P sector for an Oil and Gas smallcap is significantly de-risked by its cash and tangible value.

Marketcap £12.7m

Net Assets £19.5m

Cash £13-14m

(Exchange rate £1=$1.65)

Share Issue 199.45m

Must see news coverage below

Nambia News One Channel:

New presentation out – here. Count the source rocks (Courtesy of the helios website)

The focus on HRT follows a simple principle of reflective material value to Global and its interest in Namibia, The company are looking to broker a high value deal with its data room open and considering all options tabled.

Some previous thoughts here: review is here: review here:

This shows the potential of the region. Any drilling success by HRT will see Global’s shares rocket.
I regard it as a matter of when and not if the region is pegged on the map. Given Global’s mammoth cash backing it appears a low risk play on this potential.

The arguement why not position in another operator in Namibia? frankly I don’t see another company with more cash in the bank than its marketcap, Low cash burn, acute tangible value of over £15m with Intangible value of £21m before completing any further joint venture/s

I suggest signing up to the and site for a pragmatic and diverse source of information as a private investor, a valuable tool to help circumnavigate the markets.

All the best /Doc

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(These are but opinions derived from my own experiences and thoughts and do not adopted as statement of fact)

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