Global Petroleum (LON:GBP) Trading 12.9% Higher – Still a Buy?

Global Petroleum Limited (LON:GBP)’s share price was up 12.9% during mid-day trading on Wednesday . The company traded as high as GBX 0.20 ($0.00) and last traded at GBX 0.19 ($0.00). Approximately 22,002,719 shares changed hands during mid-day trading, a decline of 74% from the average daily volume of 84,954,656 shares. The stock had previously closed at GBX 0.17 ($0.00).

Global Petroleum Stock Down 3.8 %

The company has a 50 day simple moving average of GBX 0.21 and a 200 day simple moving average of GBX 0.12. The stock has a market cap of £9.78 million, a price-to-earnings ratio of -1.57 and a beta of 0.75.

Global Petroleum Company Profile

Global Petroleum Limited, together with its subsidiaries, explores for oil and gas properties in Africa. It primarily owns an 78% participating interest in the Namibian project consisting of offshore blocks 1910B and 2010A covering an area of 5,798 square kilometers located in Walvis Basin, Namibia. The company was incorporated in 1994 and is based in Melbourne, Australia.