Encouraging support today

Peter Blakely adds a few at 8.75p (approx.) to take overall position to 16.3%.

http://www.investegate.co.uk/article.aspx?id=201006221115240188O&fe=1

Reo

Happy to pick more up at around 8p.

http://www.investegate.co.uk/article.aspx?id=201006100721173799N&fe=1

And again lets have a few more at 7.5p when you have cash of approx. 10p !

http://www.investegate.co.uk/article.aspx?id=201006031006390028N&fe=1

A few more for Mark Savage.

http://www.investegate.co.uk/Article.aspx?id=201005270736296293M

Worth being minded sterling is struggling against the A$ - after the court case I assume they have a cash balance of approx. A$28.7 million.  Probably not earth shattering during these volatile times, but some comfort.

Reo

Yet another director buy, this time Mark Savage - with his first purchase??

http://www.investegate.co.uk/article.aspx?id=201005070723175172L&fe=1

...........600,000 ordinary shares were acquired between 5 May 2010 and 6 May 2010 by Mountainside Investments Pty Ltd, a company associated with Mr Mark Savage, on market at an average price of A$0.13 (approximately 7.9p). Mr Savage has an overall interest in the issued ordinary shares of Global Petroleum Limited of 600,000 (0.34 per cent.).

Director dealings again, this time Shane Cranswick.......

http://www.investegate.co.uk/article.aspx?id=201005060747234341L&fe=1

.................390,000 ordinary shares were acquired on 30 April 2010 by Black Swan Superannuation Pty Ltd, a company associated with Mr Shane Cranswick, on market at an average price of A$0.13 (approximately 7.8p). Mr Cranswick has an overall interest in the fully issued ordinary shares of Global Petroleum Limited of 500,000 (0.3 per cent.

Director dealings. Sell some, buy some....... Must be confident to sell from the holding company (tax bill to pay?) and get the wife to buy some!?!? ;-)

http://www.investegate.co.uk/Article.aspx?id=201001190746387620F

........400,000 ordinary shares were sold between 12 January 2010 and 15 January 2010 by TM Services Limited, a company controlled jointly by Messrs Peter Blakey and Peter Taylor.........

........92,233 ordinary shares were acquired by Mr Taylor's spouse on 15 January 2010 on market at an average price of A$0.195 (approximately 11p) and 24,271 ordinary shares were acquired by Mr Blakey on 13 January 2010 on market at an average price of $0.215 (approximately 12.3p).

If anyone is interested, this is how buyers & sellers stack up in Oz right now (market closed, prices in A$):

BUYERS SELLERS
Orders Quantity Price Price Quantity Orders
4 303,210 0.210 1 0.215 156 1
5 140,000 0.205 2 0.220 242,143 4
5 140,000 0.200 3 0.225 180,000 5
1 300,000 0.195 4 0.230 155,000 5
5 128,200 0.190 5 0.235 95,000 1
2 42,000 0.185 6 0.240 75,000 2
8 341,544 0.180 7 0.245 90,000 2
3 79,800 0.175 8 0.250 70,000 2
2 60,000 0.170 9 0.255 50,000 1
1 31,000 0.165 10 0.260 73,000 2

A general down day across all sectors in Oz, yet GBP went up ~16% on very large volume (3.5M)

http://www.asx.com.au/asx/research/companyInfo.do?by=asxCode&asxCode=GBP

~12.3pps to buy.

In reply to REO100 (post #9)

No idea what they will do with the cash, but here's confirmation of the balance at year end.

A$24.99M or ~£14.4M

Nice to see product sales this quarter at A$213k, which is just over double the previous quarter and getting close to covering admin costs which were A$262k for the quarter. Of course Tyler Ranch 4 was not in production until late November, so all going well the admin costs should be covered next reporting quarter.

And while they sit on the cash, the interest alone is A$210k.......

http://www.asx.com.au/asx/statistics/displayAnnouncement.do?display=pdf&idsId=01027874

Pretty much what I said above but GBP's SP has now made positive steady progress for the last 4-5 weeks, I suppose it is in relation to the pre spud/ second Uguandan drill, but from what I can see volume has been low.  Whilst TRP 'our excitable cousin' has had significant daily movements and discussion GBP has been moving up gradually in the background with limited discussion.  The relative valuations of GBP and TRP have been discussed many times but perhaps quietly some are aligning their position with GBP or something else is potentially happening for GBP with a  not insignificant cash pile ?

Does anyway have a more informed view ?

Reo

It is noticeable that Aus with reference to the SP are leading the way.  It's as if the UK price is being dragged along with minimal volume.

I would be surprised if it is to do with securing a rig, but I suppose news on that matter is looming.  Court case is likely to be a 2010 issue , so I cannot help thinking just maybe management have decided to utilise some of the company's funds, the question which has been posed many times is where.

Trying not to get too excitable but GBP in the UK seem to be very much under the radar it would be interesting if perhaps some company activity were to catch the imagination of the crowd.

Came on to make a bit of a 'joke' that Woodside will have plenty of cash for that out of court settlement ;-)

Raising A$2.5 billion.

http://www.asx.com.au/asx/statistics/displayAnnouncement.do?display=pdf&idsId=01022045

But then noticed that GBP are up 15% overnight (going by the offer price of 19c). Not likely to be connected, but nice to see, especially when the overall energy index on ASX was off slightly, so does not look like a sector backed move.

Just reactivating this old thread re the share price to point out that, at the 15.5 cents close today in Aussie trading, this is equivalent to 8.625p. Currently the shares are 8.00-8.25p in London.
These differences though are not too uncommon.

I must admit that the extent of the Sterling devaluation against the AUD in recent months is something I had missed. Last time I looked, the FX rate was over 2.00....now it is under 1.80!

ee

I've found the stars, thanks for that, I remember seeing them when I first looked at the site but couldn't see when I was looking to rec, but have that sorted now.

Hi, salty64 - at present, recs on this site are using the Star Rater to the right of the post. If you hover over the number of stars, you can click how many to allocate to a given post (it only works if you are logged in). We are actually looking at switching to a "thumbs up, thumbs down" type system quite soon as people seems to find the Star Rater a bit confusing (e.g. it's not 100% clear if 1 star is ok in that it is better than none or bad in that it is the lowest number out of 5). Any comments on this of course welcome. 

[Just seen that EmptyEnd addressed this question while I was posting so apologies for duplicating - cheers!]

  I would give you a rec but I am not sure how to.

If you look at the top right hand corner of each post Salty, you'll find four FAINT stars......click on the first for a 1 star rec etc etc.

I've pointed out how faint they are - I didn't spot them either for some while, but they are changing the rec system anyway so won't be a problem soon.

As to "pondering" GBP, the well is due to spud early next week (perhaps before London opens on Tuesday) so anyone pondering for very long will miss their chance (though of course who yet knows whether that will turn out to be a "good miss" or not? ;-))

ee

Thanks for the link Betasurfer.  I am very keen on GBP and bought a few this morning on the dip.  There will be plenty to ponder about in the next few months.  I would give you a rec but I am not sure how to.

Agree with your assessment. Along broadly similar lines, there's an interesting writeup here on Global Petroleum  - http://www.cambridge-news.co.uk/cn_business_columnists_punter/displayarticle.asp?id=404013