GBP 0.00% 1.4¢ global petroleum limited

rationale for upward movement??

  1. 2,631 Posts.
    lightbulb Created with Sketch. 17
    Can someone enlighten me as to the probable reason for the current strength in the share price?

    Given that there is not expected to be any developments that could provide anything else than a blue sky value for this stock, I am at a loss to explain it. I reason that the most likely source of long term value will come from the decision to drill wells on its JV blocks offshore Kenya. That decision is unlikely for at least 6 months. Even then it will be many more months before any wells are drilled. I guess one coudl also attribute some "value" to the Falklands JV, but I see that as even more remote in terms of tangible results.

    So what is going on? I think the short term direction on this has to be down from here unless I am missing something.

arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.