1. Most Discussed
  2. Gainers & Losers
GBP 3.3¢

hard to figure for oilleak

  1. Mangrove

    1,747 Posts.

    Hi oilleak

    I'm afraid to say that I became involved in GBP in the heady days of Hardman when Alan Burns used Apollo as a vehicle to create GBP.

    After a 10 to 1 consolidation, I lost a fortune, but the story is not so much about my dissapointment as to remember the history and the fact that most Apollo holders are waiting to jump ship. The float almost failed leaving Taylor, Burn, and Burns with a far larger proportion of GBP than they wanted. Also, GBP did not get the working capital they required and have been operating on a shoestring for two years. More credit to John Armstrong and his small dedicated staff.

    They have pulled a few rabits from a very difficult hat and the company may yet have a future. WPL have just about completed seismics over their leases in Kenya and, all being well, will drill two wells to complete their farm in. Success here will give GBP the shot in the arm it needs.

    But GBP has no money. Last I saw was $30k. So GBP won't be undertaking any drilling on it's other prosoects.

    A capital raising is needed but this would weigh very heavily on the Taylor Byrne Burns camp so I think they are hoping for a miracle. As they have all put far more money into GBP than they intended, I think they (TBB) will be sellers into any success.

    I see that Alan Burns retired as a Director. The reasons for this are beyond my understanding.

    Basically, I think that GBP is struggling at the moment and the share price is a little high for what they have to offer but things change.

    This is just my opinion. I would welcome others adding their thoughts. I have some GBP shares but I doubt that I will ever see my money back let alone a profit.

    Regards M.

DISCLAIMER:
Before making any financial decisions based on what you read, always consult an advisor or expert.

The HotCopper website is operated by Report Card Pty Ltd. Any information posted on the website has been prepared without taking into account your objectives, financial situation or needs and as such, you should before acting on the information or advice, consider the appropriateness of the information or advice in relation to your objectives, financial situation or needs. Please be aware that any information posted on this site should not be considered to be financial product advice.

From time to time comments aimed at manipulating other investors may appear on these forums. Posters may post overly optimistic or pessimistic comments on particular stocks, in an attempt to influence other investors. It is not possible for management to moderate all posts so some misleading and inaccurate posts may still appear on these forums. If you do have serious concerns with a post or posts you should report a Terms of Use Violation (TOU) on the link above. Unless specifically stated persons posting on this site are NOT investment advisors and do NOT hold the necessary licence, or have any formal training, to give investment advice.

Top

Thank you for visiting HotCopper

We have detected that you are running ad blocking software.


HotCopper relies on revenue generated from advertisers. Kindly disable your ad blocking software to return to the HotCopper website.

I understand, I have disabled my ad blocker. Let me in!

Need help? Click here for support.