Stockanalysis has made a good call on the GBP twin well plays of 80-100mmbbloe recoverable plays . Since the call , it has moved from 20c to a Volume Weighted Average Price = 28.72c today on Monday ASX trading . This is from Stockanalysis which feels like it has still more to go in the next 10 days .
"StockAnalysis calculates a total risk adjusted target value for Global of 42 cps and recommends it as a speculative buy."
and as posted previously ,
"Recommendation: Global appears
to have caught an up-draft and
could move towards 55 cps once
it clears 25 cents, as Ugandan
drilling commences. The stock is
underpinned by cash and
reserves with a value of 20 cps."
Strachan writes "Since selling out of the Falkland Islands, Global Petroleum’s canny, London-based
management has been marshalling cash for a couple of years and working towards
finding a company-making opportunity. Global is so invisible that it does not even
run a web page. Outside of a small foray into the successful Leighton oilfield
discovery with Texon, the company has been quiet on the drilling front. However,
Global is now emerging from a period of virtual hibernation, to have a big swing at
an oil play in Uganda, just north of a region where Hardman Resources began
finding large qualities of oil, just before it was taken over by UK based Tullow. The
company hopes to end up with 50% of a couple of hundred million barrels of oil,
which would be worth over $5 per share.
Global is now using a large chunk of its $34 million to pay for the drilling of two
wells, with the first well at the Lti prospect capped at US$7.5 million and the
second well at Samba not capped in cost. Both wells are shallow, with Lti targeting
800 metres depth and Samba to just 500 metres." ---Peter Strachan ,of Stockanalysis last week .
I like that $5 possible odds applied , which makes this a 17 bagger play at today's prices . Don't think many traders have realised what this stock is on to ?????????
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