# GGP - Golden Gate Petroleum



## shy (12 January 2006)

This is my first post to the forum. I have joined the forum about two months ago and decided it is time to start contributing. 

After reading the MGX thread I understand that it is important to actually own a share when posting to its thread so this is my story with GGP. 
I put GGP in my watchlist on 7/11/2005 when it was 17 cps I bought when it was 24 cps, sold at 35 cps and bought again at 36 cps. 

They got a speeding tick but hey they do have a long list of price sensitive announcements. Any idea how far it will go?


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## yogi-in-oz (13 January 2006)

*Re: GGP (Golden Gate Petroleum Ltd)*



Hi Shy,

Welcome aboard.

GGP ..... has been kind to us in the past and from this
end, it should remain positive for January 06, with two
key dates:

     18012006 ..... spotlight on GGP

20-23012006  ..... minor and positive news???

Technically, it would be good to test support at the
gap, around 32 cents, as well.

Looking ahead ..... looks like some choppy water coming
around  07 February 2006 ..... 

happy days

  yogi


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## SevenFX (13 November 2006)

Hey Shy,

Are you still playing with GGP.... as what are your thoughts since it's recent falls which seems to be all time lows since Feb of this year.

However the trend may have changed, and interested to hear your thoughts...???

Cheers
SevenFX


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## YOUNG_TRADER (17 November 2006)

This stock looks interesting,

Its drilling a deep gas target in GOM so its similar to GDN and ADI/AUT yet it has got no coverage but then neither did GDN until it ran from 20c to 50c to $1.20+ 

Anyway turns out GGP's gas target could be worth up to $1.60according to valuations, now there was only 1 minor gas show so it doesn't look too promising but you never know, well was finished yesterday and they're running Wire Line Logs, so we should know very soon,

Given stock is trading at 30cish and discovery value is worth $1.60 I'd keep this on your RADAR,

Very Spec but I'm on for the ride!


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## YOUNG_TRADER (20 November 2006)

Wireline logs have been delayed due to hole problems,

May take another week before we know,

I reckon there's a 99% chance of a P&A
But a 1% chance of it being the $1.60 per share well that its been touted as


Either way will know soon


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## YOUNG_TRADER (24 November 2006)

I find it interesting that nobody has comented on or added to the GGP thread, 

There are quite a few following GDN and ADI yet nobody seems to care about GGP

GGP has cashflow from its Gulf of Mexio operations and has secured drill rigs for up to 10 follow up wells so its not a one shot wonder,

That being said my interest in GGP for the moment is purely around its Deep Gas well that it has finished drilling, a well which in the UNLIKELY EVENT its a success would add $1.60 per share value


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## Sean K (24 November 2006)

Was watching it this morning when it went up 12% but on small volume. Interesting.


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## YOUNG_TRADER (24 November 2006)

Not enough volume yet to suggest insiders, 1m+ shares = Somethings is definately up!


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## Sean K (24 November 2006)

Yep.


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## Dums (25 November 2006)

YOUNG_TRADER said:
			
		

> Not enough volume yet to suggest insiders, 1m+ shares = Somethings is definately up!




Hi folks
Do you have any views on whether Pantheon's Mohawk, Caddo and Plum Deep wells will be plugged and abandoned, or flow commercial?
I know they're fishing/re-drilling in Plum Deep before being able to run wire-lines, but there has also been a big delay on announcing test results for Mohawk and Caddo - is this a good or bad omen???
My view would be no news is bad news, but have you heard any gossip!
Cheers
Dums (from iii board in UK)


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## YOUNG_TRADER (25 November 2006)

Dums this is what I think,

Slim chance of success but if Plum Deep comes through lookout!!!!!



			
				YOUNG_TRADER said:
			
		

> Wireline logs have been delayed due to hole problems,
> 
> May take another week before we know,
> 
> ...


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## noirua (25 November 2006)

YOUNG_TRADER said:
			
		

> Dums this is what I think,
> 
> Slim chance of success but if Plum Deep comes through lookout!!!!!




Yes, the drill seems to be stuck in the well and the share price has gone up. Looks early days and could prove expensive.


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## Dums (26 November 2006)

Thanks guys

I'll just wait and cross my fingers !!!
Cheers Dums


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## YOUNG_TRADER (27 November 2006)

noirua said:
			
		

> Yes, the drill seems to be stuck in the well and the share price has gone up. Looks early days and could prove expensive.




Noirua, they have finished drilling, its the test logging equipement thats become stuck which they're fishing out of the hole to re-run the test,

This should only take another 5 - 10 days at most and given that a well success (however unlikely) could add $1.60 to the SP this will certainly be one to watch (especially given the kmt interest in ADI and GDN)


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## fflintoff (28 November 2006)

Dums said:
			
		

> Hi folks
> Do you have any views on whether Pantheon's Mohawk, Caddo and Plum Deep wells will be plugged and abandoned, or flow commercial?
> I know they're fishing/re-drilling in Plum Deep before being able to run wire-lines, but there has also been a big delay on announcing test results for Mohawk and Caddo - is this a good or bad omen???
> My view would be no news is bad news, but have you heard any gossip!
> ...


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## YOUNG_TRADER (28 November 2006)

Clost to another half a mil and another 2c up today

Interesting given the pounding the mkt is taking today


Sniffs of gas from the $1.60+ well coming out?

Still not enough vol for insiders, unless they were smart sneaky accumulating insiders


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## YOUNG_TRADER (28 November 2006)

AGM today,

Explains price action of late, more and more peeps being reminded that GGP have a huge well completed and currently being tested and if it fails its not the end of the world as they've got the drilling rig for 12months to drill another 7 deep high reward targets


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## nizar (28 November 2006)

YOUNG_TRADER said:
			
		

> AGM today,
> 
> Explains price action of late, more and more peeps being reminded that GGP have a huge well completed and currently being tested and if it fails its not the end of the world as they've got the drilling rig for 12months to drill another 7 deep high reward targets





YT how do you find all these winning stocks do you just plug in random letters and see if the code exits! LOL   

(nah but seriously)


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## YOUNG_TRADER (28 November 2006)

nizar said:
			
		

> YT how do you find all these winning stocks do you just plug in random letters and see if the code exits! LOL
> 
> (nah but seriously)




Niz the truth is actually alot funnier than that and you won't believe it, 

I was trading GOP Options, Gippsland Offshore Petroleum and put up a buy of 500k @ 0.001 ie a $500 order, I was in and out of GOPO so much that this time I must not have paid attention,

I had accidentally put up GGPO and whats more I got 430k of those opies @ 0.001,

When I was checking through my CommSec position statements etc I saw my error, 

I thought what the heck is GGP, looked it up and wow what an interesting story with little to none mkt coverage of it

In a nut shell the opies are 31st Dec 06 so about 1 month to go, they are 65c so still a bit off being in the money, but when I realised that the Well if successfull would be worth $1.60 (ie opies could be worth $1 each) I thought hmm I better switch em over into one of my Company accounts with Pato's so max tax is 30% on the gain and so I did on Friday I think

Funny huh?

Anyways I reckon that most likely the well will be a dud and opies will expire worthless, but I bought some stock for LT play (low 0.30's) as it really is an interesting US GOM Gas Player


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## YOUNG_TRADER (29 November 2006)

Another day another 2c up,


Kennas I saw a resistance line on the daily Candle Chart at 42c which started all the way back in mid January this year, you see it? 

Now that its through 42c what levels do you see next? I'm not sure I see minors at 48/50/54c and a major at 58c

Anyway tech analysis aside a discovery will see it smash through $1.50
A failure will see it fall back to 30c


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## Sean K (29 November 2006)

YOUNG_TRADER said:
			
		

> Another day another 2c up,
> 
> Kennas I saw a resistance line on the daily Candle Chart at 42c which started all the way back in mid January this year, you see it?
> 
> ...



Yep, I reckon you're on the money there Sam. Breaking $0.43 is very important I think so needs to hold above and maybe test it, although it's having a pretty good run. Might just keep smashing through...Sean


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## noirua (29 November 2006)

YOUNG_TRADER said:
			
		

> Noirua, they have finished drilling, its the test logging equipement thats become stuck which they're fishing out of the hole to re-run the test,
> 
> This should only take another 5 - 10 days at most and given that a well success (however unlikely) could add $1.60 to the SP this will certainly be one to watch (especially given the kmt interest in ADI and GDN)




Sorry about that guys, yes it's the logging equipment which is stuck, hope it all goes well.


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## YOUNG_TRADER (30 November 2006)

Kindee ST 212, Padre Island Texas, Operator 37.5% WI
The Kindee ST 212 #1 well on the Plum Deep Structure was spudded on 1 August 2006 (Texas, USA).
The Board of Golden Gate Petroleum is pleased to advise that electric logging of the well has been successfully completed. *Our preliminary interpretation of the logs has identified 4 zones which are potentially gas bearing and warrant further investigation. Collectively these zones span a gross interval of over 1,000 feet.* As operator, Golden Gate is planning a comprehensive testing programme which it expects to recommend to the Joint Venture. This will be the subject of a future announcement once the programme has been approved by the Joint Venture. The programme will provide the additional information needed to determine the commerciality of each of these zones. Mr. Russotti remarked *“The initial results from the electric logs are encouraging and the gross interval encountered is in line with our pre-drill estimates. * The final outcome is of course dependent on the results of the testing programme.”


The pre drill estimates for this well were between 50BCF of Gas and 250BCF of Gas, where 50BCF of Gas would be worth around $70m AUD or 40c per share and 250BCF of Gas up to $2 per share

Will the SP rocket given the 1000ft Gas Interesection?


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## Sean K (30 November 2006)

YOUNG_TRADER said:
			
		

> The pre drill estimates for this well were between 50BCF of Gas and 250BCF of Gas, where 50BCF of Gas would be worth around $70m AUD or 40c per share and 250BCF of Gas up to $2 per share
> 
> Will the SP rocket given the 1000ft Gas Interesection?



Not many orders put out there yet. Maybe market's still taking it in. Looks like a goer YT.


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## YOUNG_TRADER (30 November 2006)

I know, contrast this to something like ADI or GDN where the Companies have created alot of froth and bubble over 25foot interesections from drilling,


And here we have GGP which has *CONFIRMED OVER 1000FT OF GAS INTERSECTIONS FROM WIRE LINE LOGS* 

Peter Strachan of Stock Analysis refered to GGP's management as those who like to let the drill bit and testing do the talking as opposed to them and their equipment

Still mkt has to take notice of this 1000ft is amazing!

And to top it off they've got cashflows from existing successful wells and they have already moved the drill rig to test the next well which is 

*MANANZO which has pre-drill estimates of again between 50BCF and 250BCF of Gas * 

and the well after that is 

*Murdock which has pre-drill estimates of again between 25BCF and 125BCF of Gas * 

So plenty more high impact wells coming up!


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## YOUNG_TRADER (30 November 2006)

Spoke to the brokers, they reckon 1000ft is amazing, but would need to know exact break up ie 4x 250ft zones and depth ie from 500-750 ft etc as well as actual background readings etc most of them hadn't seen ann and are now checking with analysts re potential etc


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## YOUNG_TRADER (30 November 2006)

Here we go


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## YOUNG_TRADER (30 November 2006)

Hit 56c just then,

All time high was 58c so nearing a breakout!

Mkt starting to digest the implications of 1000ft of gas?


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## YOUNG_TRADER (30 November 2006)

Looks like mkt doesn't believe the 1000ft intersection,


Well if its correct and the well does hold $2 per share in value, the question is how long until the company can prove it up,

I've been in contact with many brokers this morning trying to get a better handle on it,

So far 2 are unsure due to the fact that during drilling they only encountered a 25ft intersection n hence wrote the well off as a P&A but are now in a spin over log results,


1 reckons that its very positive (this ones pretty conservative usually as well) but says the key will be flow testing 

Waiting to hear back from 2 others



Any other thoughts?
I would have thought a 1000ft intersection would have had quite a few posters putting up opinions etc but so far nothing


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## white monkey (30 November 2006)

Agree YT, the 25 vs. 1000 ft results have me a little worried. may just have a little flutter on this one though.
cheers


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## YOUNG_TRADER (1 December 2006)

No real follow up buying today, just sellers being slightly soaked up,


The key will be an update re this 1000ft gas intersection,

A more detailed update preferably, ie zones, readings, depth levels etc etc


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## YOUNG_TRADER (3 December 2006)

Didn't fall too far back on Friday, 

We need an update to keep momentum going, has anyone seen or read any articles on this? I would have thought that a possible 1000ft of gas warrants attention!


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## Sean K (3 December 2006)

$0.50 ish is a bit of a barrier there. The sellers took control the past 2 days unfortunately. Would like to see it finish at a daily high....Not sure if that gap needs to be completely filled before it can head up....

I'm still a bit confused with the reports they've produced claiming the 1000ft of gas, in different zones. Doesn't add up to me. I'm obviously no gas man, or any sort of expert, but it's all Chinese to me.


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## YOUNG_TRADER (4 December 2006)

kennas said:
			
		

> $0.50 ish is a bit of a barrier there. The sellers took control the past 2 days unfortunately. Would like to see it finish at a daily high....Not sure if that gap needs to be completely filled before it can head up....
> 
> I'm still a bit confused with the reports they've produced claiming the 1000ft of gas, in different zones. Doesn't add up to me. I'm obviously no gas man, or any sort of expert, but it's all Chinese to me.





Hi Sean,

Not a Gas man hey? A bit of Srilankan/Indian Curry will fix that : 

The key to the SP is their ann regarding this intersection, if it looks true blue then the SP will just rocket to $1+

But right now the mkt doesn't believe it and so isn't willing to pay up

Still someone paid 2c for those opies today that I picked up at 0.1 c hmmm 2000% appreciation


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## YOUNG_TRADER (5 December 2006)

Our preliminary interpretation of the logs has identified 4 zones which are potentially gas bearing and warrant further investigation. Collectively these zones span a gross interval of over 1,000 feet. The three most attractive zones will be the focus of the testing programme initially. *The deepest zone, spanning over 800 gross feet*, will be accessed through a sidetrack wellbore, including the collection of conventional cores and sampling for fluids and pressures. The shallower two zones will be tested through a drillstem test.

*It is expected that the both tests will be completed within the next 3 weeks. * The results will be released to the market as they become available.

3 Weeks to wait to know whether its a $2 well or a P&A


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## Sham (5 December 2006)

I am amazed that the market has not pushed this one up with the ann today that they have an 800ft section to be tested deep in the well and another 2 sections further up the well. I think you will find that they are testing well over 1000ft altogether even though they have dropped one section. Not sure why the market doesnt like this but in my books this stock is very good value. Chances of plum deep being a PA is very low, chances of the well being highly commercial ...........read the info and decide for yourself. 
These guys are totally understating the potential here. Remember plum deep was worth round $2.60 a share to ggp before the drill bit hit the ground, now they have 1000 odd ft to test and how much higher is the sp in what could be a big commercial find.....

CS


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## YOUNG_TRADER (5 December 2006)

Hey Sham,

Good to know I'm not alone on this one,

All good things come to those who wait and 3 weeks isn't that long to wait

If its a success watch the day traders pile in and take this to the moon and that'll be our time to exit


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## Sham (5 December 2006)

Hi YT I think we will have some results before that 3 week time frame. The drill stem test will not take 3 weeks. I think you will find that the 800 odd feet of side track to test the deep zone is what will take the time. In my opinion expect the results for the upper zones much sooner. Even though the market still thinks this well is a dud I will be very surprised if that 800ft section doesn't flow. Risk here is about 15c downside from present sp on plum deep being PA. Upside we know it could be huge. If sugarloaf had this much zone to test the sp for adi would be multiples of the present.
DYOR but in my opinion this is really worth a look.

Sham


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## Out Too Soon (7 December 2006)

Hey YT at last I might have taken notice of one of your tips in time, this sounds great, I'll do some more research first of cause & it would have been nice to get in @ .20c but I think I'll be joining you for the big upside on this one.  
Cheers!


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## Sham (8 December 2006)

Judging by todays sp the market has written this plum deep well of already. At 42.5c next to nothing is factored into the sp for a successful test program.
Only time will tell who is right with this one

Sham


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## YOUNG_TRADER (8 December 2006)

Sham, the rig has moved to start testing another Deep Gas Well,

Its funny unlike GDN and ADI, GGP has 6 commercial success wells which provide it with good cash flow and has a drill rig for the next 12 months to drill test up to 8 targets

And from what we've seen they may have made a discovery worth $2+

GGP aren't rampers, ie like some other companies, they're playing down Plum Deep until they know for sure


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## Sham (8 December 2006)

Yeah your right YT also GGP don't have the ramping posters that the other stocks have supporting them. Some of the claims for sugar loaf of $20 value a share to certain stocks are fantasy.
I will be holding and waiting for the ann on the well test.


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## Dums (11 December 2006)

Hey Guys.
Just thought i'd post a bit of good news from blighty. Pantheon Res ticked-up quite nicely on Friday afternoon. The bid price moved from 125p to (from memory) about 145p, and then dropped back after a 200,000 share sale at the close to end the day up about 12%.
I don't know if its a 'pump & dump' - Monday's trading will likely tell, but i certainly hope a little news is leaking from the drill stem tests at Plum Deep, as I guess these would be available before they can drill and log the sidetrack in the 800ft play.
Fingers crossed - will be interested to see how GGP open the day, and any (hopefully positive) announcement would be a bonus.
Good luck to all holders!
Cheers
Dums


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## Sean K (11 December 2006)

Trading Halt


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## Bullion (11 December 2006)

Fingers crossed!


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## Sham (11 December 2006)

This is going to be big in my opinion.
Good luck all

Sham


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## YOUNG_TRADER (11 December 2006)

It says the company is in discussions?

Sounds to me like someone has approached em with a T/O offer,

As long as its above 65c I'm happy, 75c would be nice, then my 430k opies I paid 0.001 would be worth 10c   

I feel like this is going to round off a very very profitable year for me


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## Sean K (11 December 2006)

YOUNG_TRADER said:
			
		

> It says the company is in discussions?
> 
> Sounds to me like someone has approached em with a T/O offer,
> 
> ...



Good work YT. 

Perhaps you can get a new M3 instead of the crappy Porche. 

cheers!

(ps, hope it IS good news!)


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## Sean K (11 December 2006)

kennas said:
			
		

> Good work YT.
> 
> Perhaps you can get a new M3 instead of the crappy Porche.
> 
> ...




And I might be able to update the Vespa. If I'm lucky!


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## Sham (11 December 2006)

Hi YT You could be right about the take over bid. In my excitement I didn't schroll down the page far enough to see that   

Sham


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## the corsican (11 December 2006)

Anything on the aussie internet explaining the suspension


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## YOUNG_TRADER (12 December 2006)

Dums said:
			
		

> Hey Guys.
> Just thought i'd post a bit of good news from blighty. Pantheon Res ticked-up quite nicely on Friday afternoon. The bid price moved from 125p to (from memory) about 145p, and then dropped back after a 200,000 share sale at the close to end the day up about 12%.
> I don't know if its a 'pump & dump' - Monday's trading will likely tell, but i certainly hope a little news is leaking from the drill stem tests at Plum Deep, as I guess these would be available before they can drill and log the sidetrack in the 800ft play.
> Fingers crossed - will be interested to see how GGP open the day, and any (hopefully positive) announcement would be a bonus.
> ...




Hey Dums,

Any update re Pantheon Resources?

Might give us a cluse as to whats going on with GGP

Thanks


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## Dums (12 December 2006)

Hi Guys.
Pantheon were a little disappointing today. They were up before the mkt opened (150p bid/155p offer), but then drifted back to end the day unchanged (140p bid/145p offer) on a traded volume of 290,000 shares. 193,000 shares bought, 96,000 shares sold - so a bit unlucky not to have held the early gains - but certainly more trading than the norm.
Interestingly, two trades just after the close were for an aggregate value of £114,000. (50,000 [T Trade] and 29,000 shares respectively) - somebody with more money than me !!!

Is Golden Gate still suspended down there - If it's a take-over approach, I wonder if they know something about Plum Deep !!!!!
Also, did Golden Gate drill Caddo and Mohawk wells prior to Plum Deep? Pantheon haven't announced the test results yet so any idea how they're testing and any insight into the delay in announcing results?

Be lucky
Dums


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## Alien (13 December 2006)

Well are we expecting the ann to be forthcoming this morning before open?? Surely some news re: the companies discussions will come before 10am...

Any info on this one guys???


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## Bullion (13 December 2006)

Just out...

A placement at 41c... sigh...


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## Alien (13 December 2006)

Bullion said:
			
		

> Just out...
> 
> A placement at 41c... sigh...




"Company is in discussions" yeah right...with Institutional Investors. 

Management has not won any favours from investors by wording their request to the ASX like that....


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## Out Too Soon (13 December 2006)

What a let down!  
So do us shareholders get any benefit? or just a watered down share value?


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## Bullion (13 December 2006)

Well they were in discussions... with other people to give them cheap shares...


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## YOUNG_TRADER (13 December 2006)

Agree with all comments,

Why place shares at 41c? Especially when your testing a well that could be worth $2 a share and you've got over $30m worth of opies up for exercise in about 3 weeks?

Someones allowing Insto's a free ride! 


As previously advised to the Market the Company identified 4 zones from log analysis in the Kindee ST212 #1 well (on the Plum Deep Prospect) which collectively spanned a gross interval of over 1,000 feet. A comprehensive evaluation and testing programme has been commenced. The well is being
sidetracked to enable the cutting of cores in these prospective zones followed by an open hole flow test.
Once all the cores have been cut and logs and samples have been collected, a production liner will be run. The cores obtained will be subjected to detailed petrophysical and mechanical analysis and the information obtained will be used to construct a fracture stimulation programme that has the optimum
chances of success. So far the results have been in line with the Company’s pre-drill expectations.

*The Company expects the results of the open hole flow test to be available by early next week.*

Aghhhhhh cutting it kinda close aren't they, the opies cease on Wednesday!

Still imagine that Monday or Tuesday they ann the huge commercial flow rates and SP goes woosh! (   Wishful thinking)


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## YOUNG_TRADER (14 December 2006)

Stock should find support at 40c and resistance at 50c,

A break in either Direction would suggest the results of flow testing to be released,

To be a 250BCF Field I'm guessing flow rates would have to be 50Million CF of gas a day +


Anyone know?


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## YOUNG_TRADER (14 December 2006)

Did a bit of snooping,

NXS's 438BCF Longtom/Crux Field Flowed at 77MMCF a day,

So if GGP's field is 250BCF I'd expect flow rates of 35-40MMCF a day,

Can't wait to see what the test flow rates are


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## Tomahawk (14 December 2006)

Hi Youngtrader, I could be wrong but I don't think it works that way.
Longtom is a well with a significant horizontal portion whereas Plum is largely vertical. You can't really extrapolate longtom's rates and apply to plum for the purpose of working out flow rate.
Flow rates depend on several factors with the most major ones probably being porosity and how much pressure there is at the target depth.
Commercial in this case would mean... enough to make it worthwhile in a er... commercial sense. i.e. payback in x months as oppose to x decades.
So in this case, several million cubic feet would be considered good enuf.
That's my 2 cents anyway.


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## YOUNG_TRADER (15 December 2006)

Thanks heaps Tomahawk,

I had no idea


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## Sean K (15 December 2006)

Tomahawk said:
			
		

> Hi Youngtrader, I could be wrong but I don't think it works that way.
> Longtom is a well with a significant horizontal portion whereas Plum is largely vertical. You can't really extrapolate longtom's rates and apply to plum for the purpose of working out flow rate.
> Flow rates depend on several factors with the most major ones probably being porosity and how much pressure there is at the target depth.
> Commercial in this case would mean... enough to make it worthwhile in a er... commercial sense. i.e. payback in x months as oppose to x decades.
> ...



Good   Tomohawk. You must work in the industry?


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## YOUNG_TRADER (15 December 2006)

Tomahawk,

Following up on your post,

How good is a 1000ft of possible Vertical Gas intersections?

Can you please take a look at their last ann re Padre Deep Drilling and tell me your thoughts on the well

Pre-drill estimates were between 50BCF of Gas and 250BCF of Gas, where 50BCF of Gas would be worth around $70m AUD or 40c per share and 250BCF of Gas up to $2 per share, so far they've kept saying results are inline with pre-drill estimates 


Thanks in advance


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## Tomahawk (15 December 2006)

No Kennas, lol... I don't work in the industry... but I have been following oilers for several years now.

Young Trader, 1000 ft of possible gas bearing sands, while definitely a positive, does not really tell us how much gas there is. I think the amount of gas there depends on the size of the closure or trap, and also several other factors i.e. porosity, what the formation is made up of, pressure, etc. 

For example, if we compare the 1000 ft here with the 90 odd ft the sugarloaf (ADI) has encountered, it may seem that we have more gas here. But in reality, the 90 off ft in the sugarloaf well stretches over a very large area (20 or 40km²... can't remember exactly how much). So Sugarloaf is still very much in the play for its 800+ bcf target although there was an initial sell-off when the only 90ft was announced.

If GGP are saying results are inline with expectations, then i guess that there might be anything between 50 to 250 BCF. At the end of the day, we will only have a much clearer idea of the size of the field after extended flow testing. We will just have to be patient. 

On the bright side, GGP mgmt have been known to be conservative and this drill (and following drills) has had virtually zero hype. Also GGP has a risked valuation a lot higher than what its current SP.

disclosure: hold adi and ggp


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## Dums (16 December 2006)

Tomahawk said:
			
		

> No Kennas, lol... I don't work in the industry... but I have been following oilers for several years now.
> 
> Young Trader, 1000 ft of possible gas bearing sands, while definitely a positive, does not really tell us how much gas there is. I think the amount of gas there depends on the size of the closure or trap, and also several other factors i.e. porosity, what the formation is made up of, pressure, etc.
> 
> ...




Guys
Just FYI Pantheon finished the day up just over 7%, adding 11p to the share price in afternoon trading - ending at 152 bid, 157p offer .... I guess this was due to people getting in before monday, recognising that Plum Deep flow test results are due early next week.
Have a good weekend - and look out for England's Ashes come-back .... the Dunkirk spirit will be re-kindled !!!!
Well - maybe, if we're lucky, on a good day, with a blue moon
Cheers
Dums


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## YOUNG_TRADER (18 December 2006)

Hey Guys,

Sick as a dog with the flu    (do dogs get sick?)

Anyway, hoping GGP will make me have a Merry Christmas

Holding 25k in shares and 800k in opies which finish in 2 days, 65c opies, c'mom Plum Deep Flow Rates, where the heck are you?


Dums any info re Pantheon?

Anyone heard anything re Plum Deep?


----------



## Dums (19 December 2006)

Folks
Pantheon having a good day in UK ahead of flow results, they were trading at 170bid/175offer, but just dropped off a little, so in the order of 9-12% up at just B4 2pm on Monday.
PCI (nothing to do with Pantheon or Golden Gate) just announced 14mmcfg from its 2nd Algeria well and the share price is down 5% so hopefully be don't suffer a similar fate !!!
Congratulation on your Ashes success .... it hurts me to say that the better team won!!!
Cheers Dums


----------



## YOUNG_TRADER (19 December 2006)

Very low volume given that results are expected very very shortly,

Suggests that even insiders don't know yet, so may have to wait until tomorrow for results,

Watching, waiting hoping here


----------



## fma007 (19 December 2006)

Are results expected today?


----------



## YOUNG_TRADER (19 December 2006)

Last Wednesday, they said results are expected early next week,

I would presume early would mean Monday or Tuesday, given options finish tomorrow you'd think the company would try and get them out by today at the latest since Opie Exercise is 65c and this well could be worth close to $2.60


Will have to wait and see, watch for buying/selling on volume to give an early indication how the results went


----------



## Dums (20 December 2006)

Hi Guys - PANR down a modest 4p today - everybody waiting for Plum Deep results. If they are released on your Wednesday morning could I ask that you post it on this site for me to pick-up before hitting the sack tonite !!!
The view is that anything around about 14mmcfgpd would be spot on - and anything over this towards the 30mmcfgpd would be fantastic.
The porosity is always a worry though at these depths ...
What's you thoughts?
Cheers all
Happy holiday
Dums


----------



## Sean K (20 December 2006)

YOUNG_TRADER said:
			
		

> Last Wednesday, they said results are expected early next week,
> 
> I would presume early would mean Monday or Tuesday, given options finish tomorrow you'd think the company would try and get them out by today at the latest since Opie Exercise is 65c and this well could be worth close to $2.60
> 
> Will have to wait and see, watch for buying/selling on volume to give an early indication how the results went



Good luck YT. Hope these results come out this am. Could be a very good Christmas, although I think you've made enough this year!!!!   Not sure if you'll get your $2.60......


----------



## YOUNG_TRADER (20 December 2006)

Well today is the day the opies finish trading,

With every minute that passes I lose hope that GGP will release flow rates in time, early next week my foot!

It just doesn't make sense, the company could use some moe funds for its aggressive growth plans and the opies if exercised would net them $30m+ why wouldn't you try and get the results out in time?


----------



## YOUNG_TRADER (20 December 2006)

Well only 3.5 hrs to go till close of trade, looks like no results today, such a shame


Complete lack of volume = no insiders know anything yet which means no results today

Oh well


----------



## Sean K (20 December 2006)

YOUNG_TRADER said:
			
		

> Well only 3.5 hrs to go till close of trade, looks like no results today, such a shame
> 
> Complete lack of volume = no insiders know anything yet which means no results today
> 
> Oh well



YT, didn't the company tell you 'early in the week'?   That must be disappointing?


----------



## YOUNG_TRADER (20 December 2006)

Very disappointing Kennas,

Sold 400k of my 800k opies at 0.003 so got $1200 back, paid probably $2000 or so for them all

What a waste, I tell you, I'll be really pissed if tomorrow or Friday they come out with amazing flow rates, like really pissed


----------



## fma007 (21 December 2006)

Results are out


----------



## Caliente (21 December 2006)

ok, I'm no oil tycoon, but that announcement doesn't sound pretty. Could be a s***estorm this morning for GGP holders.


----------



## YOUNG_TRADER (21 December 2006)

Yep, zone 1 was a complete dud


But there's still the deeper zone 2, probably a P&A too


----------



## nizar (21 December 2006)

YOUNG_TRADER said:
			
		

> Yep, zone 1 was a complete dud
> 
> 
> But there's still the deeper zone 2, probably a P&A too




Sorry to hear YT.
Of course we all knew this was a high risk/return play.

Is it your first experience of losing money this year YT? 
Or maybe not even a loss for you coz you bought at 0.05!

Keep up the good work champ.


----------



## noobs (21 December 2006)

I got out of this one at 3.55pm yesterday and am thanking my lucky stars they didn't put this announcement out to market yesterday! Do you think they may have done this to benefit the option holders? Anyway chalk this one to experience for a unexperienced trader


----------



## Tomahawk (21 December 2006)

Doubled my holding today at 34. The well is not done yet besides there is still Manzano and Murdoch, both which are worth several times more than the current sharerprice.


----------



## Gurgler (7 January 2007)

Tomahawk said:
			
		

> Doubled my holding today at 34. The well is not done yet besides there is still Manzano and Murdoch, both which are worth several times more than the current sharerprice.





Tomahawk

Any idea what timeframes we are looking at in terms of this well - and the other two in the future? Are we looking at Feb, March or beyond? Would appreciate your valued input.

Currently holding GGP - at a loss!


----------



## Bush Trader (8 January 2007)

G'Day 

I'm only new to this caper my brother on just out me onto the site before Xma. You guys have a great site packed with info, which I think it is a great advantage when used wisely.

Anyway, I'm averaged at 39c do date, purchased GGP Aug-Sept, only a stomach ache at this stage, however see a lot of have exited by the volumes.

Sympathise with you Young Trader, I thought we were destined for the moon when the insiders and volumes stated to move, 58c wasn't it?

GGP is beginning to look and feel like smaller version of TAP.  Everyone thinks its worth more, however this slightest tremor in Oil price or or poor news will cause the SP to go all shaky.  

At what price do you guys see the job settling out at?  I know that Tomahawk sees the val at 50-70 c, with that in mind then we should all probably average them.  (I know that this goes against the 10 golden rules of investment)   290 volume and buyers diminishing, there are not even bottom feeders in at 0.001c.  How will the next bought of news effect the stock if it is negative?


----------



## Sean K (8 January 2007)

Bush Trader said:
			
		

> At what price do you guys see the job settling out at?  I know that Tomahawk sees the val at 50-70 c, with that in mind then we should all probably average them.  (I know that this goes against the 10 golden rules of investment)   290 volume and buyers diminishing, there are not even bottom feeders in at 0.001c.  How will the next bought of news effect the stock if it is negative?



Chart wise it's looking a tad shakey to me. Probably qualifies as a potential breakdown alert. There's a bit of support here at $0.30 ish, but then it's a hard run to $0.20. I'd only be buying or holding right this minute if I was a long term holder and there's some definite fundamental value in it. I think that has been discussed here, so if the value is still there, or the reason you bought it is still valid, good luck.


----------



## Bush Trader (8 January 2007)

Thanks Very much Kennas

I think I stay long and look forward need be at averaging my holding below 30c, I do not believe that these guys are cowboys, even if the exits are filling.

All the best for 2007


----------



## Bush Trader (9 January 2007)

Check out the spread on GGP today, gone up to 35c on opening trade, Single parcel 80,000. Buy position at 10:04am at 31c with no volume, obviously a sign of impatience.  Bid now at 32c  Could be insider activity?


----------



## Tomahawk (9 January 2007)

Gurgler said:
			
		

> Tomahawk
> 
> Any idea what timeframes we are looking at in terms of this well - and the other two in the future? Are we looking at Feb, March or beyond? Would appreciate your valued input.
> 
> Currently holding GGP - at a loss!




Hi Gurgler,
From the company's last presentation. Figures in brackets are estimated reserves (non net) in bcf p50/p10 from annual report:
Plum Deep (293/952)- Evaluation of logging underway
Manzano (337/816) - December 2006
Wilson (5/21) - First Half 2007
2 LaPlaya Shallow Wells (6/12) - First Half 2007
Murdock South (232/463) - Second Half 2007
Lemonseed (67/239) - Second Half 2007

I think the Manzano site has been prepared and is awaiting the rig from Plum Deep so I guess it will spud right after the testing is done at Plum Deep.


----------



## Tomahawk (9 January 2007)

Bush Trader said:
			
		

> G'Day
> At what price do you guys see the job settling out at?  I know that Tomahawk sees the val at 50-70 c, with that in mind then we should all probably average them.  (I know that this goes against the 10 golden rules of investment)   290 volume and buyers diminishing, there are not even bottom feeders in at 0.001c.  How will the next bought of news effect the stock if it is negative?




Er.. actually I based my decision on the risked valuation. There are a couple around and the company has even kindly provided one as attached. All point to a risked valuation upwards of 1 dollar. Moreover, if we assume plum deep is not commercial, then the risk valuation decreases to around 94c which is still much higher than what the current sp is now.


----------



## Gurgler (9 January 2007)

TMHK

Thanks for this - I'll digest it. How accurate do you rate the company info - given that it is that, i.e info re their own company?

I guess I'm asking your view on the calibre and quality of GGP's management  - particularly insofar as the authenticity of their estimates.

G


----------



## Tomahawk (10 January 2007)

Gurgler said:
			
		

> TMHK
> 
> Thanks for this - I'll digest it. How accurate do you rate the company info - given that it is that, i.e info re their own company?
> 
> ...




Hi Gurgler,

Most of the information in the table provided by the company is public domain knowledge. The variables that we probably have to scrutinise the most are the price of gas used and the probability of success in the calcs. Typical figures used for in ground gas in the Gulf of Mexico range from US3.40 to US3.50. The probability used is higher than for normal exploration wells but that reflects the fact that the entire area is known to be gas charged and that they already have producing wells in the same area.

On a side note, the company has also done the right thing and used both p50 and p90 figures in their presentations. I have seen some unscrupulous companies use only p90 in their presentations in the past to generate more hype.


----------



## Alien (10 January 2007)

Bad news on Padre Island as expected   

Perhaps an opportunity to buy back in on selling today?


----------



## Bush Trader (10 January 2007)

Alien said:
			
		

> Bad news on Padre Island as expected
> 
> Perhaps an opportunity to buy back in on selling today?





Buy positions and volume are very shallow

Buyers	 	Sellers	 	
Number	Quantity	Price
2	27200	0.260
2	25000	0.250
1	18000	0.235
1	20000	0.230
1	13000	0.220
1	70000	0.200
1	13000	0.175
	#

	Number	Quantity	Price
1	12000	0.285
2	55009	0.290
1	20000	0.310
1	29000	0.315
2	61000	0.330
2	44672	0.350
1	7462	0.355
1	9332	0.360
1	20000	0.370
2	32000	0.375

Last 10 Trades
   Time	            Price	Quantity
12:23:02 PM	0.290	25000
12:23:02 PM	0.290	20000
12:21:30 PM	0.300	3491
12:20:40 PM	0.300	8000
12:20:16 PM	0.300	18509
12:20:16 PM	0.300	50000
12:20:16 PM	0.300	10000
12:20:16 PM	0.300	4500
12:20:16 PM	0.300	10000
12:20:16 PM	0.300	6991


 I thing we could see supports for this puppy erode quickly especially if 25c is breached.  Take note of the reduced number of buyers on each position, if they begin to withdraw bid, it may be hard for volume sellers to get set (I know I’m stating the obvious).  Remember not all of the punters have had an opportunity to read the news and digest it today. The average man on the street is also reading a lot of press about energy prices falling and the warmer than average US winter.  (All very bearish.)  

Stop losses will certainly kick into gear for those that are holding on a cost basis of greater that 40c. Patience may be the key here if you are looking to re-enter or average a long position. That’s certainly only my gut feeling anyway. Take note of Tomahawk’s valuation post it is the only thing keeping me interested.


----------



## Bush Trader (10 January 2007)

Getting worse by the look of.  Bottom feeders will be here shortly


Last Action: 10 January, 2007 1:09:48 PM	OPEN
Last Trade	Price Change	Percent Change	Volume	Trades	Open	High	Previous Close	Low	Bid	Ask	Trading Basis	Data Mode
0.2600	-0.0550	-17.4603	466121	38	0.3200	0.3200	0.3150	0.2300	0.2450	0.2500	NR	Real-time

Buyers	 	Sellers	 	
Number	Quantity	Price
1	20000	0.245
2	30000	0.240
1	50000	0.235
2	54300	0.230
1	13000	0.220
1	4000	0.210
1	70000	0.200
1	13000	0.175
1	100000	0.100

Number	Quantity	Price
1	40000	0.250
1	29070	0.260
1	30000	0.270
1	12000	0.280
2	55009	0.290
1	15000	0.295
1	20000	0.310
1	29000	0.315
2	61000	0.330
2	44672	0.350


Last 10 Trades
Time	Price	Quantity
1:07:14 PM	0.260	930
1:05:50 PM	0.260	24070
1:05:02 PM	0.260	930
1:02:35 PM	0.260	24070
1:02:18 PM	0.260	5930
1:01:54 PM	0.260	2800
12:59:43 PM	0.240	25000
12:59:43 PM	0.250	5000
12:59:23 PM	0.250	5000
12:59:22 PM	0.250	10000


I'm sorry for the untidy cut and paste work.


----------



## Tomahawk (10 January 2007)

Bush Trader said:
			
		

> ...
> Stop losses will certainly kick into gear for those that are holding on a cost basis of greater that 40c. Patience may be the key here if you are looking to re-enter or average a long position. That’s certainly only my gut feeling anyway. Take note of Tomahawk’s valuation post it is the only thing keeping me interested.




Bummer with plum deep.
Hope you guys are not basing all decisions entirely on my posts...
GGP remains a high reward speculative play and you shouldn't put in what you aren't comfortable to lose.

On the other hand, I more than doubled my holdings again today. Had 3 orders filled all the way down (one partially) and managed to pick 15700 @ 23c. Hoping that is the bottom. 

Now it will just be a case of patience. I expect to hold for 12-18 months.


----------



## Alien (10 January 2007)

I managed to buy 18000 @ 23.5c today. 

They have about $10m cash on hand after the placement @41c recently. 

Market cap @ .24c = $38m - $10m cash = $28m with current production of Gas and Oil and a whole lot of upside. 

I am holding on too Tomahawk... 

Good luck!


----------



## Bush Trader (10 January 2007)

I like your confidence Boys

Anyway that why I joined the site, making hard decisions like this can be difficult on your own, so it looks like I'll be a sheep this time and join the flock.

Cheers

I wished I had more up my sleeve for tommorrow.


----------



## Gurgler (10 January 2007)

Bush Trader said:
			
		

> I like your confidence Boys
> 
> Anyway that why I joined the site, making hard decisions like this can be difficult on your own, so it looks like I'll be a sheep this time and join the flock.
> 
> ...






baaaaaaaaaaaaaa!

Just doubled holding at 23.5 also.


----------



## Tomahawk (10 January 2007)

Good luck guys!
It has been said that the best time to buy into an oiler is way way before a drill or right after a dry hole. I hope it proves correct this time!


----------



## Dums (16 January 2007)

Hi Folks
I guess its all over bar the shouting for Plum Deep (given that they have only one last zone to test, and that this was the 'least promising') - however, what impact do you think this will have on the other 'deep' wells scheduled for drilling on padre island. 
Is it possible that all of these wells share largely similar geology - hence most or all may be wet and tight and non-commercial - or - are the wells are separated so each can only be judged on its own individual merit.
Do you folks know of any wells in close proximity that are producing from the greater depths despite the impact of the pressure impacting upon the porosity, and if so, do you know how many mmcfgpd .. what would be the equivilent of a 'gusher' in the area?
Appreciate your input as ever ... wish I had sold my Pantheon shares at 170 pence - could have bought them back at  60 pence or so !!!!
Cheers 
Dums (from UK)


----------



## Tomahawk (16 January 2007)

I think they have had one successful deep well which is producing (LaPlaya Deep –1 ). The other one (Homerun-1) was abandoned due to mechanical problems. If we consider the failure at Plum Deep as well, that gives them a 1 in 3 success rate for deep wells, which coincidentally, is the probability they have assigned to the deep targets Plum, Manzano and Murdoch in the risked valuation calcs.

Also, it looks as if the company is taking the precaution of going through the Plum Deep data thoroughly before sending the rig to Manzano. They have elected to drill Wilson in the mean time. I am not an expert in these things but I believe Plum and Manzano are adjacent fault blocks which is why they are scrutinizing the data now. It may not necessarily mean anything though since they are, after all, in different blocks. I am not sure if Murdoch is affected at all but I very much doubt it.

On the brighter side, it seems that the sp has found a floor and is slowly going back up as more and more people realise that it has been way oversold.


----------



## Bush Trader (16 January 2007)

Gentlemen

A great day, volume over 700,000 and strong close @ 28c. Solid buy supports forming at 27c

Happy Days


----------



## Bush Trader (5 February 2007)

Any Updates?


----------



## Out Too Soon (9 February 2007)

"Once bitten twice shy"? no not me. I'm thinking it's time to jump back on. 
 I lost bad on this when it was so successfully ramped early december.  HOpe no one here's still holding from then, if you r then keep holding, patience is only good if you're *very* patient.  
That stupid trading halt ann' in dec doesn't give me confidence in the managements honesty, any comments?


----------



## Gurgler (11 February 2007)

Still hanging in there - and being very patient.

Wilson well (the second one of this group) has started and results will be due lateMarch/early April. Lets wait til then.


----------



## TheAbyss (11 February 2007)

I am still in. Oil is black gold as they say. Just gotta find it and cash in...Sooner rather than later would be good.


----------



## Out Too Soon (22 February 2007)

Gurgler said:
			
		

> Still hanging in there - and being very patient.
> 
> Wilson well (the second one of this group) has started and results will be due lateMarch/early April. Lets wait til then.



Hope it's worth the wait, sp starting to drift down again with no news. 
The Wilson well is spudded aaaannnd! 
Why do I have this romantic picture in my head of black oil flying up out of a well with oil covered but happy workers dancing in the oil rain singing out Eureka!   Too many movies/ TV.


----------



## Gurgler (7 March 2007)

Does the 8.9% 'surge' in sp to 0.245 have anything to do with Michael Bell's departure?


----------



## TheAbyss (7 March 2007)

Some surge, $12k purchase is the cause of the 8% increase. A surge may be an over statement.


----------



## Gurgler (7 March 2007)

That's why I used parenthesis! I guess we will have to wait on results for a more meaningful rise.


----------



## TheAbyss (7 March 2007)

Sorry Gurgler. I was letting my disappointment show. I saw the % swing and checked, then deflation on seeing the volume which is the key to everything... GGP's time will come.


----------



## Gurgler (7 March 2007)

Hey, finished on 26c. (go BushTrader in the Tipping comp.)


----------



## Bush Trader (12 March 2007)

Mexican Standoff! Waiting for news

Quotes  
 Market Depth 
Golden Gate Petroleum Ltd (GGP) 
(Trading Status: OPEN) 
As at 12/03/2007 10:36:57 AM 

Last Trade	Today's Change	Volume	Trades	Open	Today's High	Previous Close	Today's Low	Trading Basis	Data Mode	
0.265	0.000(0.000%)	0	0	0.265	0.265	0.265	0.265	Normal	Real-Time	

BuyersNumber	Quantity	Price
1	20000	0.265
1	13609	0.260
2	50000	0.255
1	30000	0.250
1	40000	0.235
2	95000	0.225
1	45450	0.220
2	28231	0.205
4	114500	0.200
1	100000	0.195
	 #

0.300	5000	1
0.305	7637	1
0.310	47000	2
0.320	10100	2
0.330	14000	2
0.335	7462	1
0.340	12000	1
0.345	17000	1
0.350	3800	1
0.380	25000	1


----------



## Gurgler (13 March 2007)

Looked good for a moment there (4th place!) but now back to 0.28 - very low volumes.

Did someone hear a rumour to buy at 30?


----------



## Bush Trader (14 March 2007)

Gurgler said:
			
		

> Looked good for a moment there (4th place!) but now back to 0.28 - very low volumes.
> 
> Did someone hear a rumour to buy at 30?





Low volumes have resulted because the sellers have already been flushed out, not counting the day traders.  There could be some resistance at around 31c.  Long Punters will hold until news arrives of Wilson Drilling (Good or Bad).  Any increase in buying will anticipate the quality of the news as has always occurred with this stock.

Good luck to all holders


----------



## TheAbyss (15 March 2007)

Has anyone had a look at the announcement? drilling to 8700 of the 12,400 feet and a Kick was experienced and Gas flowed to the surface. They are casing and running wire logs. Must be a good thing if they have found gas and logging it?

Obviously i am not a gas man.


----------



## Bush Trader (15 March 2007)

TheAbyss said:
			
		

> Has anyone had a look at the announcement? drilling to 8700 of the 12,400 feet and a Kick was experienced and Gas flowed to the surface. They are casing and running wire logs. Must be a good thing if they have found gas and logging it?
> 
> Obviously i am not a gas man.





Saw the news this morning. Too busy today, if you think the share market has issues then you should try fertiliser ATM.

The key fragment that many may have missed "Wilson has an unrisked potential of 21 bcf."  GGP has a 58.23% WI share.


This results in an aprox increase of 26% of the companies production using the % share of all P50 figures( See below ).  I am not sure how this is adjusted once the risk potential is confirmed. (I hope that this calculation and assumptions are correct, no doubt I will be told if it is not)

The company's Risked valuation prior to Plum Deep disaster was around 94c, per Tomahawk's earlier calculation on GGP's share of 46.7 bcf @ P50.  Tell me this puppy has no upside?


Happy investing


----------



## TheAbyss (15 March 2007)

BT, The GGP Val document is blank. Thanks for your interpretation on tpodays announcement also. Looking good.


----------



## Bush Trader (15 March 2007)

TheAbyss said:
			
		

> BT, The GGP Val document is blank. Thanks for your interpretation on tpodays announcement also. Looking good.





I've got no idea why the doc won't post properly.  It's plagiarised from Tomahawk on the previous page anyway.

Cheers


----------



## junmonkey (26 April 2007)

GGP was put on a trading halt. Anyone know why? Big news coming up?


----------



## TheAbyss (26 April 2007)

Not sure. Their SP was going up nicely in March then retreated again without any announcements. It went back to .20 from .29. I hope that retreat is not related to this trading halt. With some luck it will be relating to the increase in the SP in March which wasnt based around any market release.

In short no idea and best of luck to all holders as this could go either way.


----------



## Gurgler (26 April 2007)

Yes, my hopes were rising in March. A glimpse at the past 6 months indicates we're due for some good news! But who knows - we will know by Monday.

BTW they are only 2 wells into an eight-well drilling program, with neighbours in the immediate area like experienced industry players Shell, Exxon/Mobil, El Paso, Woodside, Houston Oil & Gas, Santos and Spinnaker Oil.

What are the chances of a takeover?


----------



## Gurgler (30 April 2007)

So it's some fund-raising - $3mill convertible notes at face value of 26.5c.

Although this represents a dilution (introduction of 11.3 mil ordinary shares), I guess we can see this as a positive progression.


----------



## somesortoftrader (10 May 2007)

Does anyone have a comment on GGP's resistance around the 18.5c or 19c mark? 
Volumes seem have been ok over the last week, will this be a good base when some positive news comes through?


----------



## TheAbyss (21 May 2007)

Any conjecture on the trading halt?  Information re the fundraising? They dont usually call a halt for well updates do they?


----------



## Disco Stu (21 May 2007)

TheAbyss said:


> Any conjecture on the trading halt?  Information re the fundraising? They dont usually call a halt for well updates do they?




It should be interesting to see what happens. Shares were up about 27% on decent volume when trading was halted around midday. Wonder if there was a leak they had to plug!


----------



## junmonkey (21 May 2007)

Up 27%? that's huge. maybe its a takeover? would be nice. I bought at 0.2and its been hovering there for awhile now.


----------



## somesortoftrader (22 May 2007)

Gas flowed into the well shutting down drilling.  Is this a normal reason to halt trading? 

http://www.asx.com.au/asx/statistics/getAnnPdf('/asx/statistics/showAnnouncementPDF.do?idsID=', '00723109', 'Announcement');return false;


----------



## TheAbyss (29 May 2007)

Might see some action on the strength of todays announcement?

Kindee ST 949 #1 (Wilson Prospect), Padre Island Texas, Operator 58.23% WI 

The Kindee ST 949 #1 well on the Wilson Structure was spudded on 7 February 2007 (Texas, USA). 

The well has reached a depth of 11,975 feet (measured depth). After the gas kick taken at 11,850 feet, 
the well was successfully controlled and the lost circulation cured. Upon reaching the depth of 11,975 
feet it was determined that primary and secondary objectives had been completely intersected and 
drilling could be stopped and electric logs run. 

Electric logs were run and show indications of at least two potential gas zones which have a combined 
gross interval of over 100 feet. The logs do not conclusively prove commercial gas accumulations 
because of the adverse mechanical conditions in the well bore. A 4 ½ inch production liner has been run 
and cemented in preparation for an extensive testing program. 

The forward plan is to set up flow testing equipment over the next two days and then begin several 
weeks of testing.


----------



## Gurgler (4 June 2007)

Certainly a response to the gas flow at Wilson. Whether this breaks through the resistance at 0.30 is another matter.


----------



## junmonkey (5 June 2007)

Gurgler said:


> Certainly a response to the gas flow at Wilson. Whether this breaks through the resistance at 0.30 is another matter.




well, it looks like 0.35 is the new barrier. depending on the prospects of further announcements, it looks to move even higher.


----------



## Bush Trader (5 July 2007)

Did anyone see this little beauty today?

Cheers


BT

ACQUIRES NET 48.75% WORKING INTEREST IN BULLSEYE PROSPECT IN SOUTH LOUSIANNA WITH POTENTIAL RESERVES OF 12.5 MILLION BARRELS OF OIL AND 33 BCF GAS  


• Golden Gate expands activities in the U.S. Gulf Coast region
• Entering Louisiana through farm-in to an oil and natural gas venture over Bullseye Prospect
• Gross potential P50 is estimated at 12.5 million barrels of oil and 33 BCF of gas
• First well is expected to be drilled in the November 2007
• The Company as a result of the farm-in and pending farm-outs to third parties will earn a 48.75% working interest
• After all royalties Golden Gate’s net revenue interest will be approximately 35%
• This acquisition adds another low-risk, high impact project to the Golden Gate portfolio
• This new project is consistent with Golden Gate’s stated strategy to focus on hydrocarbon exploration onshore in the Gulf Coast region of the U.S.


The Board of Golden Gate (ASX Code: GGP) is pleased to advise the acquisition of the Bullseye Prospect, South Louisiana as operator (Figure 1). The first exploration well is planned to commence in November 2007. Total reserves are estimated (P50) to be 12.5 million barrels of oil and 33 BCF of gas.

This is the first in a series of new venture acquisitions that the Company is pursuing to bring diversity and growth to its asset portfolio in the onshore Gulf Coast region. The Company’s focus is on low-risk exploration ventures, with high production rate potential and a significant oil component in reserves. The development of informal strategic partnerships with local experts is an important component of this effort.


----------



## Gurgler (5 July 2007)

Yes, with glee, although it will take a little more interest (in terms of volume) to move this one back into favourable territory (sp-wise).

However, take whatever good news is available - there hasn't been a lot of late for GGP. Will watch with interest. Hope a wider market climbs onboard.


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## TheAbyss (5 July 2007)

Sure did BT, up 8% today on the strength of the announcement. The chart would have looked a lot better if it closed at .28.


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## Gurgler (13 July 2007)

Another announcement that GGP acquires 18% working interest in South East Texas Project - this on top of the ann last week (Acquires a Working Interest in Bullseye Prospect) shows this company may be on the move.

They say they are a non-operating participant in a project that starts exploration in Sept 2007 with estimated reserves of 65 BCF of gas and 2.5 mill barrels of oil.

Can anyone with oil industry knowledge/experience give some insight into the potential value of these two acquisitions?

SP up 6% so far - not exactly leaping out of the gates.

*Source: http://www.asx.com.au/asxpdf/20070712/pdf/313dsgf37y8pvt.pdf*


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## Bush Trader (24 July 2007)

What did you all think about the announcement post the Trading Hault?


Further dilution with another placement of 35,000,000 shares.  Just can't take a trick with this puppy, I wondered why the price did not ralley on the new prospect announcements.The prospects look good long term provided they don't find too many dry holes in the new ventures.  Looks like long term will be the only satisfaction, with he exploration upside.  It worked with TAP and OSH


Cheers


BT


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## Gurgler (25 July 2007)

BT

Well there is enough interest today for GGP to be the only *green *in my watchlist (currently trading at .27) on a day where the ASX is down 80 points.

As to the investor presentation, I've looked it over but don't have the industry knowledge to tell whether this is positive company fluff OR valuable information on which to make investment choices.

Anyone with such background knowledge is welcome to post.

Link: [B]http://www.asx.com.au/asxpdf/20070724/pdf/313kz287wvvkmt.pdf[/B]


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## Lachlan6 (25 July 2007)

(GGP) tracing out an interseting pattern currently. Looks like a broad head and shoulders reversal pattern to my naked eye. Nicely supported by bullish divergence in the MACD and the volume since the beginnings of this years run up, looks strong. Key resistance now $0.34 being the June highs and from there the 50% level from 06 highs to April lows this year.

Looks like one from a good sector and may have the fortunes of it eventually turning around.


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## Bush Trader (25 July 2007)

Hi All

My understanding of the placement is that it was for institutional investors as well as for E-trade customers, does this give any existing shareholders an opportunity in relation to their existing holdings?

I have seen this type of activity before in order for an institution to justify their investment in a placement they then tend to ramp the stock by taking out small volume sellers, the next thing you no sell offers are pulled and the stock price jumps, any thoughts?  However I missed the acion today as I was in the paddock, is this how it panned out Gurgler?


Cheers


BT


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## Gurgler (25 July 2007)

BT

Interesting theory - not sure if it's borne out by today's 5-minute chart. Seems from the volume bar, that activity was scattered through the day but most of the volume was attached to the afternoon. The first hour is made up of small parcels, but the price jumps occured just before 2pm and the close (look at the volatility indicators). 

However, I'm a chart novice so can't really interpret - just conjecture!

Good luck, yourself!


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## Bush Trader (25 July 2007)

Gurgler

Market Depth Action would tell the true story I think, however thanks for the chart.  I Note Volume Jumps prior to 28c & then 29c rises.

Cheers


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## Bush Trader (26 July 2007)

Firm again today!

Mabey the market was expecting more Capital raising than actually occured?

Cheers


BT


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## Gurgler (1 August 2007)

This is what we like to see. A sustained bout of volume plus upwards movement for once. All the pointers (recent acquisitions/ongoing exploration underway) are for this to progress positively. Let's hope it continues on its merry way.


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## Gurgler (31 August 2007)

Somethings on here - three 100k orders in the past hour moving the SP up 17%.

Anyone heard anything? They must have some more Padre Island results due soon.


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## Gurgler (21 September 2007)

It's been quite a month so not surprising to see the SP move through into the 40's for the first time in yonks. Firstly two projects heading into production (Wilson/Kindee and Dunn Deep) and then the acquisition of oil and gas prospects in Iberville and Ascension Parish, Louisiana. 
But now the Park Avenue (NY) boys have come to the party!

Today's ann relates to Eastern Advisors Offshore Fund coming onboard, tripling their holding to 27.75 mill shares. Does this mean anything - or just a group of US retirees investing in US oil? Anyone know anything about them?

Ann's in September: 21/09/2007 Becoming a substantial holder  
19/09/2007 Dunn Deep 2 Flows at 3.8 mmcfd  
17/09/2007 New Project Acquisition and Spudding Commenced
12/09/2007 Wilson Production Commenced at 2.5mmcfd
7/09/2007 Dunn Deep Drilling Success
6/09/2007 Wilson Tie In Completed

Good luck to those still holding.


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## pan (13 January 2008)

Hello, been looking at this stock recently as it fell back into the 20 cent area where it hasn't been for quite some time.

I was also reading through some broker reports on their website by strachan.
http://www.ggpl.com.au/documents/StrachanCorpGGPReport29July2007.pdf

It may be 6 months old but they are giving recommendations of $1.20, given this was 6 months ago and the oil prices were not as high as they are at the moment you would think that any oil that is hit in their new wells bullseye, west texas and willcox could be worth a bit depending on the amount?
This could could be one to watch in the coming months are their new ventures come on board. 


cheers pan


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## Trader Paul (13 January 2008)

pan said:


> Hello, been looking at this stock recently as it fell back into the 20 cent area where it hasn't been for quite some time.
> 
> I was also reading through some broker reports on their website by strachan.
> http://www.ggpl.com.au/documents/StrachanCorpGGPReport29July2007.pdf
> ...






Hi pan,

GGP ... using some simple Gann analysis, the GGP chart below, shows
the current price sitting on the 50% retracement level, down from 
27042006 high .....

..... with a significant and positive cycle due to come into play
this week, around 17-18012008, we will be alert for a rally off
this critical Gann retracement level.

have a great day

   paul

P.S. ... other stocks, that use the same time cycles as GGP are:

                                 PPP - GPG - GGY



=====


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## pan (13 January 2008)

thanks again paul,

we just have to wait now but with current oil prices and looking at that analysis report it could be a good month.

cheers


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## pan (5 February 2008)

Ann.

1) Appointment of Managing Director

2) New well spudded- ST991 No1 Well Spudded on Manzano Structure (350 BCF)

3) Golden Gate’s production increased substantially over past six months
51 per cent.

News starting to happen.

Anyone got any info on the new director? 
Mr Stephen Graves? All i know is he has worked for Mobil.

cheers


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## Spec-Invest (12 February 2008)

Hey all,
i have been a long time follower of GGP, recently over the past few weeks we have seen a fall in it's share price, currently residing at .24c, hopefully with the completion on the menzano shellow well we will see the share price rise, hopefully if GGP does continue to drill deeper into the high risk zones the share price will rise even more, although it is a high risk. remember what happened to Plum Deep. although the company has came along way since then and the risk is definitely alot lower.

it definitely has been a roller coaster ride for the long term investors but hopefully we will see enhanced results shorty.


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## Trader Paul (16 February 2008)

Hi folks,

GGP ... conflicting time cycles right now, as Friday saw a positive
cycle lift this one, marginally ..... but, expecting *2 negative cycles
to come into play on Monday - 18012008:*

              22-26022008 ... positive cycle to lift GGP off lows.

              11-13032008 ... negative news expected here - finances ???

                   18032008 ... minor and positive light on GGP

There's also an underlying negative cycle in effect, from now until 27032008,
 which may keep prices flat, even with positive announcements.

                   01042008 ... minor and positive news expected

                   04042008 ... minor and positive cycle ... finances???

              16-17042008 ... 2 minor cycles and news expected here

have a great weekend

      paul

P.S. ... other stocks, that use the same time cycles as GGP are:

PPP - GPG - GGY



=====


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## pan (18 February 2008)

You might be right paul its starting to come off a bit hopefully I can get in at 20 cents can you work out how low its going?


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## Trader Paul (22 February 2008)

Trader Paul said:


> Posted 16022008:
> 
> Hi folks,
> 
> ...






Hi folks,

GGP ... not much volume as yet, but news comes in, right on time !~!

have a great weekend

   paul



=====


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## pan (28 April 2008)

There has been some nice annoucements lately, especially for the modena side. Paul haven't heard from you for a while, you got an astro update its coming to the end of you predictions? cheers


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## pan (22 May 2008)

Strachan report posted on the website

interesting read

values how much each well is worth to the company

http://www.ggpl.com.au/documents/GGPStrachanFinalMay08.pdf

pan


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## pan (27 May 2008)

I have recently done some PE ratios for GGP

Seems relatively undervalued for a producing junior at these oil prices,

It would be good if people could correct me if i am wrong.

Monthly net revenue to GGP (after royalty and costs) is
estimated at over A$900,000*12 10800000/242384160 shares

=.044

.28/0.044 = 6.28


current PE of 6.28, and price of 28c and EPS of .044

So PE = price / earnings.
Therefore Price = PE * earnings
So a sector average of PE 20 gives:
Price = 20 * .044
Price = 88c

20(sector PE)/6.28 (stock PE) = 3.2 approx, so 3 times current price.

Thoughts?

cheers


----------



## strayda11 (27 May 2008)

Thoughts.. 

Look up what a PE ratio is? 

earnings not revenue... 

Do think GGP is undervalued but on its exploration prospects... not on its current *earnings*.


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## Spec-Invest (27 June 2008)

ggp's going through a down at the moment, the end of the financial year is also not helping, hopefully we will get some good news in the next few weeks which is needed


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## Spec-Invest (1 July 2008)

1 July 2008

GAS DISCOVERY - LAPLAYA #2 FLOWS AT 1.3 MMCFD

La Playa #2 (La Playa Prospect), Padre Island, Tx, Golden Gate has 20% WI, BNP is the Operator

The Board of Golden Gate Petroleum (ASX Code: “GGP”) is pleased to announce successful test results from the La
Playa #2 exploration well.

La Playa #2 was drilled in October 2007 and testing has been delayed due to extensive analysis and other well
commitments. 

Following the successful test, the well has been tied directly into the sales grid along with GGP’s
other producing wells in the area and has been producing at a rate of more than 1.3 million cubic feet per day of
gas from a perforated 2 ft interval over an extended production testing period.

The current thin producing zone is the lowest of a series of apparent gas productive reservoirs, across a 300 foot
gross interval in the Cib Haz, which is a prolific producing section in the area. This initial production test is very
encouraging, as it upgrades the remaining potential reservoirs higher in the borehole as well as the larger-scale
trap of the prospect.

Above the current producing interval is a potential larger reservoir (~ >30 ft of net gas pay) with low calculated
water saturation and direct indications of gas in the cement bond log. This interval will be tested when the current
zone has been fully produced. 

A successful test in this zone would be expected to lead to significantly higher flow
rates.

 The Company is carefully evaluating the potential extent of this newly discovered reservoir.
The addition of La Playa #2 presents a high value proposition at current gas prices at $12.50 mcf and hence
significantly improves GGP’s cash flow. GGP has several high impact wells planned over coming months of which
Jumonville #1 is currently drilling.


good to see some promising news. excelent gas flow + high gas prices = better profit.


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## Spec-Invest (8 July 2008)

Jumonville #1 Bullseye Prospect, Iberville Parish, Louisiana, Operator 43.33% WI
The Jumonville #1 well has successfully had a 5 ½” liner set at 12,050ft, which is approximately 300ft above
the primary target. In order to more effectively drill and test the primary objectives, it has been decided to
continue drilling with a smaller workover rig. As a consequence we have released the existing drilling rig and
will continue drilling with an already contracted smaller rig.
The forward plan is to drill out with 4  ½” bit using the smaller rig which provides a more effective platform to
finish drilling operations and facilitate testing. The current Helmrich & Payne rig 72 is estimated to be off
location by Thursday and Key Drilling will have their rig 88 on location ready to drill by Saturday.
The Company anticipates 3 days to drill the next 500ft to below the primary objective in the Miogyp also
penetrating the Camerina reservoirs above. With a workover rig on location, the testing program can begin
immediately.
In drilling the last ~1,000ft of borehole numerous minor gas shows were observed. This provides
encouragement that the primary Miogyp objective is contained in a working hydrocarbon trap.
Our primary objective remains the Miogyp interval. Depending on initial Miogyp testing results and borehole
constraints, a determination will be made whether to drill deeper and test the Cib Haz interval (~12,900ft).
Partners in the Jumonville #1 well* are:
Golden Gate Petroleum Ltd (ASX code: GGP) 43.33% WI
Modena Resources Limited (ASX code: MDA) 15.00% WI
Pantheon Resources PLC 15.00% WI
Eastern Advisors 20.00% WI
Nuenco NL (ASX code: NEO) 6.67% WI
* Working Interests are reflected prior to back-in rights of project vend

great news well almost complete - GGP has a substantial working interest which should see the share price move up in the next coming weeks given more positive announcements.


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## pan (15 August 2008)

Good annoucement out hopefully we will see some oil next week! Other news is due concerning other wells in the near future as well..

Jumonville #1 Bullseye Prospect, Iberville Parish, Louisiana, Operator 43.33% WI

The Company advises that activity on Jumonville #1 well has resumed drilling operations to test the Bullseye
prospect. The Key #88 rig has been moved in over the last several days. Prior to suspending operations a 5
 ½” drilling liner was set to 12,050ft TVD.
Since re-entering the well bore, the cement plugs have been drilled out. A successful formation integrity test
in excess of required mud weight expected in the reservoir sections of our objectives has been established.
Currently, the well is drilling ahead.
The projected total depth of the well is estimated at 12,550ft TVD which will test a secondary objective in the
Camerina (~12,100ft TVD) and the primary objective in the Miogyp (~12,350ft TVD). *The 500ft of final
borehole is expected to be completed in 2-3 days*, at which point open hole logs will be run. As part of the
formation evaluation it is expected that a 3  ½” liner will be run to TD in order to obtain fluid samples from
each objective for confirmation of electric log interpretations.


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## pan (18 August 2008)

Excellent annoucement out for GGP.

Peter Strachan stated in relation to Bullseye: "Strachan Corporate estimates that discovery of a targeted 12 million barrels of oil and 33 Bcf of gas would deliver an un-risked value of 66 cents per share to the company but recent re- evaluation by the company indicates significantly larger discovery potential"


Jumonville #1 Bullseye Prospect, Iberville Parish, Louisiana, Operator 43.33% WI
The Company advises that during drilling operations on Friday (15/08/08), North America time, the Jumonville #1
topped the primary objective in the Miogyp sands as expected at 12,330ft MD and *observed a strong flow into the
wellbore.* After circulating the drilling mud to the surface significant amounts of light oil were observed in the mud
pits and highly elevated gas readings were recorded. The well was shut-in, a few feet below the top of the Miogyp,
to allow the removal of oil contaminated mud prior to continued drilling. This operation is being completed at the
present time.
*It is expected to take approximately 18 hours to reach total depth once drilling resumes*. Formation evaluation logs
will be run at that time after which production casing will be installed.
While encouraged by the oil and gas shows, it is too early to assess the significance of these shows and the
Company remains cautious. A full set of evaluation logs, completion and testing are required before the significance
of these recent events can be determined.


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## pan (22 August 2008)

GGP has moved into an upward trend in the last week from .195 to .30 cents today.. Logging is due anyday now.. Has anyone got a chart of today's close? Just wondering whether the moving red moving average has crossed over??


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## pan (29 August 2008)

Good Sign is the media coverage after the annoucement of the the logging of the Bullseye well, which so far looks to be successful..

Source The Age
http://news.theage.com.au/business/golden-gate-petroleum-shares-soar-20080828-44t2.html

Shares in junior oil and gas explorer and producer Golden Gate Petroleum Ltd have surged after encouraging results from early drilling at its Bullseye prospect in South Lousianna, United States.

Golden Gate's stock leapt 10 cents, or 33.33 per cent, to close at 40 cents.

"During drilling operations, significant amounts of light oil were observed in the mud pits and highly elevated gas readings were recorded," the company said.

"While this information is preliminary, it does provide a strong indication of a commercial discovery.

"Expectations should be tempered based on the information to date as it needs further confirmation."

"The company remains cautious until a full evaluation can be completed."

Golden Gate has a 43.33 per cent interest in the prospect.


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## Undertow (30 August 2008)

hi pan

Not a lot of coments for this stock but it has risen sharply in recent weeks. They may have around 20 million barrels of oil, even more if the deeper trap tests positive (maybe 40 million barrels) . I hope the flow test proves very sucessful. If it is then this stock should rise even more and be a good long term investment as they have more follow up targets, probably more wells at Jumonville to tap higher rates of production, and they'll start to earm serious money out of Jumonville and perhaps the new wells.


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## Trader Paul (14 September 2008)

Hi folks,

GGP ... we will be alert for results of a flow test
on Jimonville #1 well, this week ... a positive time 
cycle is due to slot into place for GGP, later this week ..... 

have a great day

  paul

P.S. ... and be watching NEO, MDA and PRE about the same time, too ...!~!



=====


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## Spec-Invest (15 September 2008)

i woludn't bother looking at neo its an absolute dog stay away!! but for the others... thats a differnt ball game!! very interesting week or two ahead.. there could be a possible take over roumor has it..


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## pan (29 September 2008)

Successful announcement today for GGP:

Jumonville #1 Bullseye Well

Quoting announcement



> tremendous success for Golden Gate Petroleum.




Also starting a new well- A drilling rig has been located
and is expected to start drilling Jumonville #2 within 6 to 8 weeks. As production facilities will be completed, this well will be put on-line immediately after completion.

Trader Paul you got an update?


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## pan (23 January 2009)

Anyone who is interested in GGP may want to check out-

http://sonris-www.dnr.state.la.us/www_root/sonris_portal_1.htm

its a well database updated every monday by a scout.

cheers


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## pan (2 June 2009)

From Last Ann.
The Company advises that production testing operations at the Jumonville #2 exploration/appraisal
well are moving ahead accordingly to plan. Actual perforation of the Cib Haz interval is expected
around the middle of the week with initial test results by end of this week.

Could be the reason why the share price has increased recently..


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## rabbit59 (19 August 2009)

Hey all, GGP is in a trading halt, any ideas on whats happening there? and whether or not it may be a runner over the next few weeks...???

any inside knowledge greatly appreciated


----------



## Real1ty (19 August 2009)

rabbit59 said:


> Hey all, GGP is in a trading halt, any ideas on whats happening there?



All the details you need are contained within the companies release to the market today at 9.22am..............................


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## Undertow (23 August 2009)

hello

The company is trying to raise funds. They have requested a temporary suspension untill what they are doing has been finalised. It appears that there may be something going on between GGP and RFE (Red Fork Energy) and even AOK may be involved.


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## Peanut (23 August 2009)

Hey folks, my maiden post here on ASF so hopefully not a Barry Crocker.

I think there is one further target to be drilled within the Jumonville 2 well?  Fund raising potentially related to this?


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## Undertow (27 August 2009)

Bit of action today, up over 50 % on good volume.

Speculator article in the Bulletin magazine would have helped.
Maybe something else is brewing also that is bringing  in some punters.


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## Miner (2 September 2009)

Undertow said:


> Bit of action today, up over 50 % on good volume.
> 
> Speculator article in the Bulletin magazine would have helped.
> Maybe something else is brewing also that is bringing  in some punters.




Speculator article in Eureka Report today has recommended GGP . 
He actually sold part of his holding  at 6.5 cents and exercised rights at 3.5 cents too.


----------



## Undertow (13 September 2009)

Miner said:


> Speculator article in Eureka Report today has recommended GGP .
> He actually sold part of his holding  at 6.5 cents and exercised rights at 3.5 cents too.




Hi Miner
Can't see how he could have exercised rights at that time considering the rights ex-date was 9 Sept.


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## dan-o (15 September 2009)

Anyone going to apply for extras in the shortfall offer on this one??
i reckon it looks pretty attractive...


----------



## prawn_86 (15 September 2009)

dan-o said:


> i reckon it looks pretty attractive...




Why? What specifically makes this stock so attractive? Some analysis is needed, be it TA or FA.

thanks

Prawn


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## Miner (16 September 2009)

Undertow said:


> Hi Miner
> Can't see how he could have exercised rights at that time considering the rights ex-date was 9 Sept.




Sorry I missed your posting.
You have raised the same point which I did . But Eureka report is becoming no difference than Rikvin Report now a days. On the same edition of ER one writer recommends a direction and on another article another writer contradicts it. Either way the investor loses if they are wrong and the ER claims victory because they have the pen (and not Pain).

I noticed Speculator recommends or says something and market reacts very quickly. But some of the shares he recommended are not moving at all.

So bottom line I can not say why David H wrote that article - sorry as I was only extracting information. DNH hold GGP.


----------



## Miner (16 September 2009)

Miner said:


> Sorry I missed your posting.
> You have raised the same point which I did . But Eureka report is becoming no difference than Rikvin Report now a days. On the same edition of ER one writer recommends a direction and on another article another writer contradicts it. Either way the investor loses if they are wrong and the ER claims victory because they have the pen (and not Pain).
> 
> I noticed Speculator recommends or says something and market reacts very quickly. But some of the shares he recommended are not moving at all.
> ...




I have extracted David H note here:
Dave bought Golden Gate Petroleum	GGP bought 40,000 on 25th August 09 at 4.4 cents
As per Company record the ex date was 9th Sept 09. Please refer http://asx.com.au/asxpdf/20090908/pdf/31km555pmc6kw3.pdf from ASX webiste 
So technically David was right to get entitlement.

I should have read thoroughly his artcile and bought GGP at that time too 

Any hope I have explained

Disclaimer DNH


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## dan-o (9 October 2009)

It has been announced that the share issue was 46% subscribed, and there are 99 million shares to be allocated in the shortfall. If you applied for the shortfall there's a good chance you'll get the shares you applied for.


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## Albi (27 October 2009)

Hi All
Is there any news about GGP. Is it going to improve or furter price down fall. I have been holding since a long time. I am little bit worried as its chart is not improving while the others have made significant movement in sp.


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## dan-o (29 October 2009)

hi albi, i dont know whats going to happen but they have issued a lot of new stock at 3.5c recently, including an announcement yesterday. i imagine some of these are being sold down and that is keeping the price down. i havent heard any negative news...


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## BESBS Player (18 November 2009)

G'day all.

I have been looking around for a potential BESBS (Buy Early Sell Before Spud) Play and think that GGP might be offering value since the recent delay in drilling. I have bought in over the last week.

* Golden Gate (GGP) had recently looked like an unloved dog (not dissimilar to LKO before its July action). Production is now up again from the Company’s Bullseye prospect. GGP now produces an average of 241 bopd (barrels per day) and 764 mcf (million cubic feet) of gas a day. 

* The latest report showed revenues in the September quarter over $2m. This is going in a positive direction. 

*GGP has recently raised funds at $0.035 so the chance of another capital raising in the immediate future before upcoming drilling is lower than before. This lessens the risk of a potential SP stopper. This is sometimes a barrier for many traders and in GGP, this shouldn't eventuate making it more appealing.

*GGP was to drill a well on a new prospect at Fausse Point onshore Louisiana (aiming for 24 Bcf and 7.4mmbl) by mid November. GGP has a 20% interest in the drilling. Drilling has been delayed until late Nov- early Dec (this is only a few weeks away) and many traders dumped out on the delay. 

* Currently the SP is close to its annual low (within 20% range). The recent capital raising at 3.5c puts a platform under the SP so it should not dip much (at worst probably between 3.8c and 4.1c) assuming no further delays. 
Given the SP has risen way beyond 4 c before and is at historically lower levels now, the scope for a SP rise is high.

* Given OEX and MMR to name a couple, there appears to be still good support for some BESBS plays.

* Drilling is linked to VIL. After watching VIL spike over 3c a couple of times before the delay, this type of momentum can also help GGP as a partner as it is likely that many punters will return when the drilling starts.

As usual, it is simply my opinion and may well prove to be totally wrong. DYOR.

Holding GGP at 4c


----------



## bigt (22 November 2009)

Agree with BESBS, this should run prior to spud in next month. Technically oversold and yet to bounce back from pre GFC highs (45c). Looks to have bottomed?


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## BESBS Player (22 November 2009)

Hi Bigt,

Agree. Also interesting that VIL Has moved yet GGP has not really moved as yet. I realise that they are separate companies and have differing circumstances but you would expect GGP to make some BESBS gains soon given VIL's movement.


Holding both VIL and GGP


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## BESBS Player (25 November 2009)

GGP is going well so far. 

The late buying at 4.5c also sends a strong signal that someone is not willing to risk a further SP march forward tomorrow. Given the recent run of VIL, BCC and BKP to mention a few, I suspect (no proof) that some funds might have been transferred here as a cheaper new entry point to drilling action.

Enjoying the ride


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## BESBS Player (30 November 2009)

Ouch...what a week.
Looks like GGP is experiencing some big selling from one or more institutions/substantial holders (IMHO). If this backlog can clear, $$$ still can be made as drilling approaches. The market is a little gittery so that complicates things but the same happened with LKO in July when Pattersons flogged off shares for nearly 10 days and kept price to .008c. After this, the SP lifted. Hopefully the timing of the drill will allow this to happen.
Rightly or wrongly, I sold out to lock in profits in VIL as a safeguard.


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## swm79 (1 December 2009)

that would be TIG sell i'd  suggest since they were issued 40mil shares (at 3.5c) at the last AGM to extinguish some of the debts GGP were carrying

once they finish trying to get their quick few % points this will start to move more appropriately IMO


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## condog (2 December 2009)

Agreed it has huge upside potential and seems held down relative to ppers for no apparent reason...

Dis - I own GGP and may or may not own it at anytime.


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## swm79 (2 December 2009)

BESBS et al

GGP got the notice today that Tiedemann have sold down about 40mil of their shares and cease to be a substantial holder.... caused the SP to fall to 3.5c and a lucky LUCKY few picked it up for that price 

BIG volumes today... plus an update on FP... should be ineteresting tomorrow!!!


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## condog (2 December 2009)

swm79 said:


> BESBS et al
> 
> GGP got the notice today that Tiedemann have sold down about 40mil of their shares and cease to be a substantial holder.... caused the SP to fall to 3.5c and a lucky LUCKY few picked it up for that price
> 
> BIG volumes today... plus an update on FP... should be interesting tomorrow!!!




Ta for the heads up...should be an interesting ride for a while....

Im also in AOK which bounced 17% today, finally starting to move.....both these have huge upside, but market is presently over looking GGP....perhaps now volumes will stabilise and supply demand back in balance.....

Grab some popcorn and lets see...


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## BESBS Player (3 December 2009)

Yes, by my calculations most of the big institutional selling should be cleared. 
Suspect that we saw the impact of that, timed nicely with the announcement of upcoming spudding . 

Hopefully we will see GGP push further northward without the burden of the big sell-off...

Holding at 4c.


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## condog (6 December 2009)

I was lucky enough to get a heap at 3.7c based on this sell off....

So pretty easy gains on this one...


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## BESBS Player (13 December 2009)

Also managed to get some cheapies to lower my entry and have now sold off the lot over the last few days. Given the way it got hammered by the institutional selling, I can't feel certain that GGP will rise significantly (probably famous last words as it will rocket now!) in this market. Didn't make a cracker on this one - lost $200 - but won overall through exposure to VIL. Unless I feel confident on a stock at present, I'm focusing on preserving capital.

Good luck to all holders.


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## Ruprect (16 December 2009)

Anybody out there have any thoughts on why GGP keeps getting hammered? Ive picked up some more at these prices...but..im still curious why the sell side is so large. Or is it just that pre Christmas sell off for small caps?

Regardless, i still like GGP. Steady revenue stream and ongoing drilling. Just my thoughts.


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## blues (16 December 2009)

It is my understanding that their largest shareholder, Tiedemanns, has been selling down their holding. They did have 66 million shares and how many they have left is anyone's guess.

Cheers


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## Ruprect (16 December 2009)

Ahh, excellent. Good find, thanks for that. I picked up in the mid 3's which i thought was a good buy and have added a few today as well as some options. Still liking them. I'll put them away for a little while and see where we are in the new year.


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## condog (22 December 2009)

Bloody GGP doing a capital raising by diluting us privat holders to purchase 9% of Bullseye....

Selling shares at 3.5c, but has a free 1 for 1 share attached to institutional investors only....  so effective sale price = 1.75 c 

Dont expect upside for a few weeks after this while the institutions punish us for diluting our holding..............damn some managment are dumb........


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## Ruprect (22 December 2009)

Hi Condog, agreed not great to be diluting, but in the scheme of things with shares on offer, thats not too bad.

And the buy of Bullseye is actually very good. Last quarter it produced over 65,000 barrels of oil and close to 60,000 mcf of gas. GGP now have over 42% of that. Not a bad cash flow at all. 

In other words, the revenue from that should pay for the aquisition in the first year. Thats not counting the potential from other wells to be drilled there. 

Just my thoughts of course.


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## condog (28 December 2009)

Ruprect said:


> Hi Condog, agreed not great to be diluting, but in the scheme of things with shares on offer, thats not too bad.
> 
> And the buy of Bullseye is actually very good. Last quarter it produced over 65,000 barrels of oil and close to 60,000 mcf of gas. GGP now have over 42% of that. Not a bad cash flow at all.
> 
> ...




Yeh but smart managment can do a cap raising to all holders on an equal basis, it costs slightly more but it saves diluting all the private holders like this..... They are new to the game, but I ususally give em about two chances with this crap....I urge a few private investors to drop them an email so they dont pull this crap again....its lazy managment....


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## Pimping (4 January 2010)

Hey all, been watching this one closely, two significant gas shows in the last week, up 8% today and moving along nicely. Should have reached target depth of 9000ft by Friday, drilling for Oil and Gas 20% working Interest in fausse Point. Worht a look, but DYOR


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## condog (6 January 2010)

Pimping said:


> Hey all, been watching this one closely, two significant gas shows in the last week, up 8% today and moving along nicely. Should have reached target depth of 9000ft by Friday, drilling for Oil and Gas 20% working Interest in fausse Point. Worht a look, but DYOR




New announcment out today with signiificant gas pressure stopping and slowing drilling...tow mentions of significnat gas eluded to in two reports....on mentioning the secondary target and one th eprimary target.....

They cased to 7000ft due to pressure in the secondary target and have tyaken over 24 hours to drill 1000ft due to significant gas pressure stopping drilling....drilling piece modified to de=pressurise gas filled sands....and now drilling is continueing...drill speed has slowed and is now due to be completed in 6-8days from today.

Still lots of grey areas but hugely positive news for now....

SEE VIL thread for more details or ASX announcment dated 4th and 6th of Jan 2010....

Note VIL has a 50% interest in this project....


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## rabbit59 (8 January 2010)

New announcement just out...more gas!

The Board of Golden Gate Petroleum Ltd (ASX:GGP) is pleased to advise the T.G.R. Land Company, Inc #1
well at Fausse Point is presently at a depth of 8,450 ft and drilling ahead.
The well has recorded its third significant gas interval starting at 8,175 ft and continuing through 8,400 ft.
This appears to be our largest gas interval and is believed to be our primary objective.
Mudlogging has reported good quality sandstone with hydrocarbon fluorescence in many of the sampled
cuttings and in the drilling mud. The sampled and tested drilling mud contained up to 2% oil. There have
been occurrences of up to 5,000 unit gas shows in this interval, although most of the gas indicators are likely
suppressed due to the heavy drilling mud.
The well spudded on Saturday 5 December 2009. The well is expected to take up to another 1 to 2 days to
reach its targeted depth and run electric logs over the recently drilled open hole.
The first gas show recorded and logged at 7,000 ft is now safely behind 7 inch casing set at 7,671 feet. The
second gas show was recorded and logged at 8,010 ft.
Comments
While this third gas show is again very encouraging, the significance cannot be determined until a full electric
logging operation is completed over the interval once the well reaches targeted depth, and if warranted, a
production testing operation is conducted.
Partners in the Fausse Point Project are:
Golden Gate Petroleum Ltd (ASX code: GGP) 20.00% WI
Verus Investments Limited (ASX code: VIL) 50.00% WI
Pass Petroleum L.L.C. 30.00% WI


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## condog (9 January 2010)

I have recieved no response re request for promised electronic data on secondary target....

The subsequent results seem to say it all, and superceed the first announcment....

Many mentions of significant gas....but no exact quantities or confirmations of commercial viability. I expect monday will be  full announcment of primary target, with full data a couple of days later....

Seems in my opinion only, that find is more then likely to be commercially viable....the multiple references to "significant" would certainly be misleading at least ......

Obviously electronic data is needed before directors can go making decisions or announcements on commercial nature ....likely that a meeting will be necesary as well.....for decision of that nature to be made....

All looks very promising for next week....crossed fingers and toes...


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## condog (12 January 2010)

Two day trading halt on GGP and VIL for announcment of third significnat gas show size and data, plus drilling has reached terminal depth.....

A positive announcment is possibly imminent...

Announcment was for both to re-open wed morning or on announcment whichever is earlier....

One wonders why when drilling finished sat AEST approx why they needed all day sunday plus mon and tue.....  there could possibly be a commercial gas announcment being tested or better still possible some oil flows as well....

Its all speculation at this stage but all will be revealed .....

Disc - I have signifcant holdings of VIL and small holdings of GGP


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## rabbit59 (12 January 2010)

condog said:


> Two day trading halt on GGP and VIL for announcment of third significnat gas show size and data, plus drilling has reached terminal depth.....
> 
> A positive announcment is possibly imminent...
> 
> ...






BOTH GGP and VIL in pre open now, all set with good news about significant gas and oil prospects as well as now begining to case the well... this is very positive and will begin to see the SP set to a better standard... DYOR


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## Albi (12 January 2010)

It opened at good but then fall down, hope to rise again.  Now at .044cent. Still holding ggp at .052. Waiting waiting and waiting for sp rise.


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## condog (13 January 2010)

rabbit59 said:


> BOTH GGP and VIL in pre open now, all set with good news about significant gas and oil prospects as well as now begining to case the well... this is very positive and will begin to see the SP set to a better standard... DYOR




See the VIL thread for far more detail on this issue...

I read it extremely positively as you will see in the VIL thread..


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## condog (13 January 2010)

IMO the announcment from GGP and VIL yesterday where extremely contradictory of each other and ambiguous and need clarrification to the market...

For further info see page 6 of the VIL thread...

I feel and this is only opinion that the sever ambiguity and contradiction of each others reports indicates may possibley unintenionally indicate they have more information then the market knows about....

I suggest GGP share holders contact GGP and demand they release exactly what they know and what there likely intentions and estimated find is....

SEE VIL thread for how different the two announcments where...

Heres GGP contact info 

Key Contacts
Head Office:
Level 21, Allendale Square
77 St Geroges Terrace
Perth WA 6000

Mailing Address:
PO Box Z5184
Perth WA 6831
Australia

Telephone:
+61 8 9324 1177

Fax:
+61 8 9324 2171

Email:
info@ggpl.com.au

I want to assure you i am not accusing either managment of intentionally mislleading or holding back information.... but in light of the way the two announcments seem so very contradictory of each other , it would appear there is significant information possibly not released till its data validated and if thats the case im suggesting they should make a statement to clear up this confusion...

In the Verus report there where many many statements that indicated this was a hugely positive find, including a sentence which stated "this is the best possible outcome Versu investors could have wished for"....most VIL investors realisticly wished for the best outcome indicated in the VErus presentation dated 16th oct which indicated best case scenario was a 40c per share find.....  Now thats opinion, but thats the way i took it....

And yet the GGP announcment was completely flat, dull and gave away nothing....

We demand to know why a 2 day halt to know nothing more then what we knew and for release of any indicative estimate or likely outcomes.......


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## Pimping (28 January 2010)

Hey Condog, did you see todays action? up closed up 10% even went to 5.1c today, speeding ticket, things are happening here. Just awaiting flow testing results and the next step to production hopefully


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## ubtheboss (28 January 2010)

Pretty sure that was mainly because the Speculator bought 100k shares.  I've got my fingers crossed though especially after all the OBJ lemmings just jumped off the cliff.


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## condog (28 January 2010)

Yeh lots of anticipation and rightly so....

Those OBJ lemmings where / are a classic......  all the mega short term traders.... they did the same thing when VIL changed its timeframe....

On persons loss is another persons gain.... but i guess the lead lemmings get to grin and rebuy, its just the late lemmings that get hurt the most....

That rig has to be on site tonight IMO, but have no evidence..... 1st day of testing should be occurring tonight while we sleep... but dont forget its a terrible winter over there and weather could be affecting timelines...

Sleep tight dont let the pesimists bite...


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## dan-o (28 January 2010)

Interesting to see the speculator get back on board this one, no doubt todays action was largely influenced by that, but he must have good reason, just gotta sit tight


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## kenny (28 January 2010)

You would think there might be more legs with this compared to VIL who has a 50% interest over GGP's 20%.

Any ideas on how long testing should take?

Cheers,

Kenny

Disc. I don't hold.


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## condog (28 January 2010)

Testing could take up to 7 days or so, however they have made it very clear that if they make a decent find down low where the testing starts they will flow straight to sales and hault testing...

VIL has 2.5 times the exposure to Fausse Point, however GGP has income from other projects..


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## Miner (29 January 2010)

Is it a black letter day for GGP holder ?

It therefore does not surprise me that there was no posting on GGP today to avoid any salt on the wound.

I am however confused to see why GGP slumped by only 2.7 % so far whereas the options slumped by more than 11 %.

I forgot that there was a buy order of GGPO at 1.5 cents and shocked to see the price fall and my order to be executed.

I thought the decline for Option  will follow the same trend of the share


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## Miner (29 January 2010)

Since I posted last the ASX published this report. 
Now the comment came my message was too short.
I am thinking of writing a poem now


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## Albi (8 February 2010)

Inspite of today's announcement there is not big change in SP, it opened at .056 and then slip, now it is at .052 while VIL is in good move. 
Holding ggp


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## McCoy Pauley (8 February 2010)

May have something to do with the fact that VIL has 50% stake in Fausse Point, compared to the 20% stake of GGP.


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## condog (8 February 2010)

Exactly Paully VIL has 250% the interest in the fause point that GGP has....
I wouldnt fret though with GGP nearby acquisition and its cash flow from Bullseye it looks fantastic...
In fact when i do sell some VIL...part proceeds will be going into GGP if it stays at these prices - relatively...


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## dan-o (9 February 2010)

huge volume of shares changing hands, 89 million so far today... i like the direction this is heading...


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## subasurf (10 February 2010)

A fairly large dump today, back down below 30million.

*post to short*
*post to short*
*post to short*
*post to short*


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## KMW (11 February 2010)

Positive signs in this one, 10 day Moving Average crossed the 30 Day MA on an uptrend, and both of them crossing the 200 day MA. Not holding any but thinking of them as a short term trade. 
This time would obey the get out signals properly, came out of my first stock with $9.00 profit through holding 4 days to long  Talking small $ trades here but one has to start somewhere


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## KMW (11 February 2010)

VIL looks interesting as well as GGP's partner in crime, seen your comments soooo, went and checked it out, a breakout on an uptrend.

sorry if my post seems amateurish but then of course I am ^_^


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## condog (1 March 2010)

GGP severely oversold on negative sentiment towards GGP. I suggest you dYOR and look into GGP's other projects. As well as upside potential for FP which GGP has the cash flow to sustain proper exploration in.


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## rabbit59 (4 March 2010)

Nice simple announcement to let everyone know the EXACT facts of what is currently going on at Fausse Point

FAUSSE POINT and VERUS UPDATE
Key Points:
ϒ Fausse Point #1 Well - commercial production declared.
ϒ Flow testing to recommence as soon as production facilities commissioned.
ϒ Current test interval was not an anticipated target in the planned drilling.
ϒ The discovery is potentially part of a very large regional accumulation.
ϒ Additional adjacent land acquisition being reviewed.
Verus Investments Ltd (“Verus”) is pleased to provide this update and upcoming plans for its
activities at the recently drilled Fausse Point (FP) Well in Louisiana, USA.
As reported in an ASX announcement on 8 February, 2010, the joint venture (JV) partners in FP,
Golden Gate Petroleum Ltd (GGP) and Pass Petroleum, have declared commercial production of
the FP #1 Well.
While the reported flow rates from this 10’ section of the lower interval


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## rabbit59 (4 March 2010)

Second ANNOUNCEMENT for the day...a little more detail this time... 

The Board of Golden Gate Petroleum Ltd (ASX:GGP) is pleased to provide the following update on the T.G.R.
Land Company, Inc #1 well at Fausse Point.
The T.G.R. # 1 well has concluded initial production testing from the lowest zone (8,370 feet) of six intervals
of interest across three separate gas and oil formations starting at 7,000 feet. The well has established a
commercial flow rate from a potentially very large hydrocarbon accumulation which could represent a new
play type not an original target in this well. Work continues on evaluating this potentially tremendous
accumulation and preparing the well for production.
Further analysis of the zone at 8,370 feet indicates that it could possibly be connected to a much larger
hydrocarbon accumulation, and that this well has only just penetrated the edge of this larger accumulation.
This zone was not an original target of this well and hence represents a significant new play type that will
need to be carefully evaluated with further analysis.
The following graph depicts the multiple hydrocarbon intervals penetrated by the T.R.G. # 1 well next to the
Fausse Point Salt Dome. Reservoir sandstones are shown thinning to zero onto the flank of the salt dome
truncated at the top by unconformity. These reservoir sandstones expand as you move away from the salt
dome and provide potential for large hydrocarbon accumulations.
~ 2 ~
The graph also shows the two primary target objectives of the well which include multiple zones of interest of
over 110 feet intercepted at the shallower depths and where hydrocarbon bearing. Given the significance of
the lowest zone and the very large potential upside consequences of a possible large discovery, the partners
agreed that the current focus must be on the lowest interval even though we still have primary target
objectives to test.
Moving up the well bore to test the primary objectives at this time could preclude us from returning to the
lowest interval. In the meantime, by bringing this deep zone into commercial production, the Joint Venture
will be able to generate early cash flow, as well as have more time to evaluate all the data from this zone as
well as the other zones located higher in the well bore
Fully understanding all these zones of interest across 120 feet and potentially other zones continues in order
to more precisely determine the geologic and petrophysics to assist with a full scale development of the
prospect. More acreage has been leased to comprehend the significant of the discovery.
A decision on the timing of testing of the shallower zones will be influenced by the production performance of
the deeper zone. Once all available data has been fully evaluated, the Joint Venture will decide to either test
the shallower zones from within this well bore or drill a new well as soon as possible.


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## Atlas79 (4 March 2010)

Words like "could possibly" & "potential" as opposed to actual measurable facts don't look like detail to me.


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## rabbit59 (4 March 2010)

Atlas79 said:


> Words like "could possibly" & "potential" as opposed to actual measurable facts don't look like detail to me.




I agree, but that at the end of the day is 'the way it is' in the resource game isn't it atlas 

but in saying that, these little announcements are all just to stimulate the punters in the market.... that's my guess anyway...


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## condog (5 March 2010)

Check out the announcment on GGP today. 

Steve has gone and bought a 15% progressive interest in an entire salt dome with an initial cost of only $180,000 due to spud in may. Most the inital targets are Proven undeveloped resources. Loving it. The siesmics are all done and payed for.

GGP now has 5 low cost high upside projects for 2010. 4 are potential company makers. 2 are producing. Its now they will begin to be taken seriously. FP is only one aspect of GGP.


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## condog (9 March 2010)

New investor presentation out today. 

highlights all 6 projects, well worth a read for those interested or newbies.


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## Miner (16 March 2010)

About one week - no sign of posting since condog last posted in this thread

any way GGP has followed the path by allocating shares at 3.5 cents each to sophisticated and institutional investors alongwith some options attached

They had a right issue in Oct 09

See attached


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## Tommo_Aus (17 March 2010)

Miner said:


> About one week - no sign of posting since condog last posted in this thread




Not a large amount happening as of late, some minor updates but nothing substantial enough to move the SP. However, interesting to see how Mr Graves has been positioning his finger in many pies 

Not too much of a hit today with the SPP @ 3.1c being announced last night, though tomorrow could see more of a downwards trend. Have to say its not what I was expecting as I thought GGP did its CR's before drilling FP to avoid further CR's. SG knows what he's doing so hopefully this CR is in our best interests, perhaps an acquisition? May need cash in advance.

I'm expecting to see something solid come from this CR, there has to be a good reason for one at this time with ~$4 million in the bank. Otherwise I can't see it being anything more than 'mates rates'.


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## condog (18 March 2010)

1 well every month for the next 5 months is what novus capital are saying.

hmm sounds good to me. Cashed ap and ready to drill. Rediculously low sp. 

LEts go from here the direction seems pretty clear.


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## condog (19 March 2010)

From: http://www.finnewsnetwork.com.au/archives/finance_news_network14105.html
ASF and i take no responsibility for external links.

Discovery program, Golden Gate Petroleum
March 18, 2010 02:44 PM



TRANSCRIPTION OF FINANCE NEWS NETWORK INTERVIEW WITH GOLDEN GATE PETROLEUM LIMITED (ASX:GGP) MANAGING DIRECTOR, STEPHEN GRAVES

Clive Tompkins: Hello Clive Tompkins reporting for the Finance News Network. Joining me for the first time from Golden Gate Petroleum is Managing Director, Stephen Graves. Stephen welcome to FNN, can you start by introducing the Company.

Stephen Graves: Golden Gate’s a company that’s been around eight years. It’s been focused in the Gulf Coast of North America, specifically in Texas and Louisiana. All the drilling activity has been there, it’s been onshore, it’s been primarily in shallow oil and gas of course, and projects that vary quite a bit. 
All those projects, there’s six of them and those projects have tremendous upside potential for our share price in each one of them. And in most of them we are the operator and we control our project and the destiny that we have.

Clive Tompkins: Could you tell us about your announcement today, the Investor Presentation. What are the highlights?

Stephen Graves: Well the real emphasis of today’s Presentation is the fact that this Company now has got six major projects under development. Three of them are discoveries. We just recently announced the discovery at Fausse Point. We have production at our project called Bullseye and we also have some production still at Padre Island, which is the original project that the Company started eight years ago.
We’ve just announced two new projects, one called Silverwood and the other one called Napoleonville. Both of those are just fantastic upside projects for us and we’ve also got a project called Bowtie West. 
The difference now for Golden Gate as in the past, is that we’re going to be drilling six wells or participating in at least six wells and the testing of two other wells that have already been drilled, over the next six months. So we have a tremendous amount of activity and all those projects have a significant upside potential to our share price. 

Clive Tompkins: So where are your projects?

Stephen Graves: Well the good thing is that we’ve been able to again, stay focused in one area of the country but also be diversified across these projects. We have no more than 30 to 35% of any one project, some of them as low as 15%. That gives us a chance to have more projects and lower risk, and that’s what we’re doing with this type of strategy that we’re moving ahead with. It is different than most companies that have one or two projects and a much larger working interest position.

Clive Tompkins: Stephen, why have you chosen to focus on six projects when other companies focus on just one or two?

Stephen Graves: I think it’s because we’re an operator in the United States. We operate, we are the ones that develop the prospects, we’re the ones that drill the wells, we’re the ones that actually put the pipelines in and produce the oil and gas. That means that we have a better understanding of that particular area of the country and we’re not just an investment vehicle that invests in the projects. 
So we’re staying focused, yet at the same time we’re developing those projects across a range of different type of geologic structures, again. But at the same time, we’re not getting too far ahead of ourselves, we’re trying to keep our working interest positions at a manageable level and also drill wells that are relatively shallow and stay again, focused on oil.

Clive Tompkins: Okay so how many barrels do you currently produce?

Stephen Graves: Well we have one well that has been producing for the last year and it’s accumed about 240,000 barrels of oil since the project started and that’s our primary producer. We’ve been producing gas from Padre Island for the last four or five years, so we’ve had numerous billion cubic feet of gas produce in Padre Island. Last week - two weeks ago I’m sorry - we announced a discovery at Fausse Point and that well is going to go on production, probably in about six weeks.

Clive Tompkins: So are you cash flow positive?

Stephen Graves: No we’re not positive yet because we’re still in development mode. We have all these opportunities to develop these projects that are coming up. They’re exciting projects and we want to take advantage of those projects, and that means we’re spending our equity capital to do that now. But we’ve got again, six wells to drill in the next six months, a couple of wells to test – with success in two or three of those, we will be cash positive - big time.

Clive Tompkins: Stephen last question, where’s your share price today and what’s your market cap?

Stephen Graves: Our share price is around the 4 cent mark per share and we have a market cap of about $26 million. A lot of the share price has been dictated by the most recent well we’ve just announced a discovery in. The discovery that we’ve announced is extremely exciting and has tremendous upside, but we don’t know the order of magnitude of how big it is at the moment, and the market’s pretty much discounted us a bit because of this one discovery. The good news is the discovery. 
The further good news is that we’ve got five other projects that we’re still working on that have just as much or more upside potential. So we’re pleased about that but I don’t think the market’s reflecting that one - our total portfolio. As a consequence we’ve come out with this new Investor Presentation to remind the market that we’re not just a one project company, we’ve got six projects. And we think that will provide an opportunity over the next few months for the investor to come in and take a look at us at this stage, and take advantage and see if they want to participate as we go forward.

Clive Tompkins: Stephen Graves thanks for introducing Golden Gate Petroleum.

Stephen Graves: You’re welcome.


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## dan6169 (24 March 2010)

currently hold shares. 
Think this is a good punt, low price 6 wells to drill and only have to hit  2 or 3 of them to have a huge impact on share price. 
Drill away.


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## Tommo_Aus (24 March 2010)

Has anyone received notice of SPP in the mail? Should probably be arriving at some stage this week. I'm guessing it'll offer several placement levels such as $2 500, $7 500 and $15 000.


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## dan-o (25 March 2010)

the current SP is 3.9c, but we have the opportunity to buy shares again at 3.1c
am i correct in assuming we can sell now at this price and then re-buy at 
3.1c? or does it depend on what the levels of subscription are at, and whether we infact will get the shares we want that would prevent people from doing this??


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## Tommo_Aus (25 March 2010)

The SPP will be available to all holders on the registry as at 19/03/2010, so if everyone was to go for the maximum allocation of $15 000 there would be far too much money raised. Most likely for GGP to allow holders to express interest in the SPP and some method of distribution will be used amongst holders (probably not the full requested allocation).

For example if you request $15 000 you might receive an allocation of 'up to' $8000. As I understand it you could sell your entire holding now (lets say 384 615 shares @ 3.9c, giving you exactly $15 000) then hope to receive the full allocation of $15 000 @ 3.1c, giving you 483 870 shares. Each holder should have equal weighting, so those with millions of shares shouldn't have extra pull over those with tens of thousands. Same goes for maximum allocation, even if you have 10 million shares you can still only buy a maximum of $15 000.

That's my understanding, but then again I could be wrong so don't take this as gospel!

Anyone care to extrapolate or clarify?


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## Miner (26 March 2010)

Hi Folks

Just a stupid question and seeking intelligent answer,

If one holds GGPO while the rights are declared what rights that cofer to the option holder ? Is it nil because the option holder should have converted its option into shares before the record date ?

Hypothetically that is so then should the option holders will have any right on the  diluted shares ? 

Cheers


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## Tommo_Aus (27 March 2010)

Correct, its nil. An option is simply a privilege to buy an ordinary share at a set price, you don't actually own any of the company.


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## Tommo_Aus (27 March 2010)

Reading through the SPP details there's a correction I should make to my previous post regarding scaling.



> The Company reserves the right to
> allot fewer Shares than an eligible shareholder applies for under the Offer, or no Shares and any determination by
> the Directors in respect of any scaling back will be final. If a scale back occurs, the Company will refund any excess
> application money to eligible shareholders (without interest).




So those with more shares may in fact receive a larger allocation than those with fewer shares.

Important to note that this SPP will be within the 30% maximum shares issued per year for GGP so with the 'sophisticated investors' cap raising included this gives ~$3.9 million max for this SPP. With 4600 shareholders on the registry if everyone was to apply for the SPP that would mean ~$850 worth of shares per shareholder. It seems likely the full allocation will be reached.


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## Miner (27 March 2010)

Tommo_Aus said:


> Correct, its nil. An option is simply a privilege to buy an ordinary share at a set price, you don't actually own any of the company.




Thanks a lot Tommo_Aus for the clarificaiton.
Now please do not read the following as I am going to write a poem to complete the 100 character restriction.

Topaz = 1 and Diamond = 10 in the Mohr's scale of hardness. 100 completed.


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## condog (30 March 2010)

SPP letters should have arrived. Intelligently GGP have reminded investors today they have 6 projects, 5 identified, the 6th is a guess, that are to be done in the next 6 months. 4 of which are potential company makers. 

GGP is set to take off now with CR behind it and ready to rock and roll imo. 
DYOR.


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## dan-o (22 April 2010)

A successful capital raising, oversubscribed by nearly 50%, a big increase in trade volumes the last 2 days.. the speculator continuing to show this stock plenty of love. 
All has gone quiet on here.. Everyone just biding their time until we get some announcements?


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## Tommo_Aus (22 April 2010)

With the current pipeline we should be seeing more movement in the coming months as the drilling plan swings into action and development advances at Fausse Point. Yes, I think its fair to say many of us are waiting quietly for next month to begin.


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## late_start (4 May 2010)

on the asx website yesterday, ggp is looking into merging with pass petroleum?  if it is, this should be good, isn't it?   any comment?


----------



## dan6169 (6 May 2010)

would love to know when the so called drilling is ment to start on those wells.
I thought they were ment to be starting at the start of this month no news on this at all yet. the merger is interesting dont know much about   pass petroleum.


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## condog (6 May 2010)

Fp should be connected to sales by mid may, other drilling commences towards late may.

Plenty of news will be flowing in coming weeks.


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## nunthewiser (28 May 2010)

FWIW.

I have taken a position in this penny doggy dreadful purely on a technical basis only .

I could not care for the spiel that goes with it , it is merely a position trade based on MY view of the chart at the present time.

Bring on the rampers


----------



## nunthewiser (10 June 2010)

A couple of nice annnouncements, a nice technical pattern, and still no comments from previous holders or rampers..

whats goin on people? 

sold out?


----------



## J&M (10 June 2010)

In have a small holding in this and have brought a few more with the share price lower 

reading this i gather there is still some upside with this stock 

Below is from the David H 


PORTFOLIO POINT: Two of our offshore gold stocks deliver encouraging reports which should be reflected in their share prices, now heavily discounted from their 12-month highs … plus more success for Golden Gate Petroleum.


Two weeks ago (May 26) this column predicted Golden Gate Petroleum (GGP) and many other “small cap” stocks would see lower prices as punters realised tax losses before June 30.

Last week, another 25.68 million GGP shares were dumped at prices down to 2.3 ¢ a share. That matches their year’s low and represents a 34% discount to a placement completed in April to “sophisticated and professional” investors at 3.5 ¢ a share.

The selloff continues, although a few bargain hunters moved in to lift prices to 2.6–2.7 ¢ in early trades today after the company announced some positive news on Tuesday: that commercial production had begun from its Fausse Point #1 well in Louisiana.

Initial gas production over the first 24 hours was 750,000 cubic feet a day plus about 20 barrels of condensate coming out of the “rich gas” as pressures were reduced at surface.

Gas is worth about $US4 per 1000 cubic feet and condensate around the premium end of the oil price. Through its various interests in projects in both Louisiana and Texas, GGP reported its total gross share of production in the last March quarter was 10,600 barrels of oil and 8 million cubic feet of gas.

No water was being produced during the testing phase of Fausse Point #1and flow rates are yet to stabilise. For the rest of this week, various choke sizes and flow rates will be tested to determine optimal production levels from this lowest of six potential hydrocarbon-bearing zones identified in the well.

GGP is the operator with a 20% working interesting the well. Another listed Australian company, Verus Investments (VIL), has a 50% working interest in the well.

Yesterday’s announcement confirmed further geoscience work was being conducted on the Fausse Point salt dome to provide a better indication of the potential size of the discovery. The company added: “Analysis to date indicates that the lowest zone (8,370 feet) is possibly connected to a much larger hydrocarbon accumulation and that this well has only just penetrated the edge of this larger accumulation. 

“While this zone now being completed for production was not an initial target of the well, it has the potential to represent a new play type. The two primary target objectives of the well that were intersected at shallower depths were both hydrocarbon bearing and will also be evaluated from added seismic data and tested in due course.”

GGP’s managing director, Steve Graves, confirmed yesterday the company was about to spud wells “in the next couple of weeks” on both: 

•The Napoleonville salt dome (GGP’s working interest 39% and operator) to test two strata targeting 1.2 million barrels of oil plus 3 billion cubic feet of gas; and 
•The Silverwood oil and gas project (30% working interest and operator) with potential to contain 7.4 million barrels of oil and 13 billion cubic feet of gas.

At Napoleonville, GGP’s share of drill hole and completion costs are estimated at $US465,000 and $US320,000 respectively. At Silverwood, GGP’s share of total dry hole costs is estimated at $US110,000.

At the end of April, GGP had almost $10 million in cash after raising a gross $8.5 million in share issues and is now debt free. At 2.7 ¢, the company’s 975.8 million shares carry a market capitalisation of $26.4 million.


  James 



--------------------------------------------------------------------------------


----------



## nunthewiser (18 June 2010)

Looks like its just you and me mr hendrix.

Amazing really tho . for such an active thread not so long ago here it sure has gone quiet 

Hit any chartists radars yet ?


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## manyon22 (25 July 2010)

I expect, dear Nun, that interest will increase fairly soon.

We should have some good news in the beginning of August.

Also by that stage the quarterly will be out, so we will hopefully be better informed about all GGP's projects.


----------



## nunthewiser (25 July 2010)

manyon22 said:


> I expect, dear Nun, that interest will increase fairly soon.
> 
> We should have some good news in the beginning of August.
> 
> Also by that stage the quarterly will be out, so we will hopefully be better informed about all GGP's projects.




currently only holding a small parcel left over from keeping stock instead of $ profits.

been trading the ranges a bit and also had longer term trades on it which have been rather eventful.

will be looking at another re- entry parcel fairly shortly just watching the 2.7 line at present.

Great lil trading stock and always at top of watch for trade/position hold opportunities.


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## J&M (25 July 2010)

nunthewiser said:


> Looks like its just you and me mr hendrix.
> 
> Amazing really tho . for such an active thread not so long ago here it sure has gone quiet
> 
> Hit any chartists radars yet ?




well jimi & the nun what a combination ???/

I am no chartist but the ones I have looked show sideways
I buy more with cap raising at .031 

from the company updates 

Following the announcement dated 9 July 2010 the Board
advises that the Dugas & Leblanc #1 well has been completed
to 7,802 ft, the Rig has been released and a completion rig is
expected to arrive on Monday, 26 July 2010.
Following detailed interpretation of the Paleo results of the well it
has been confirmed that the 3 zones of interest that were
identified whilst logging the well were Big Hum sands.
The Joint Venture has decided to deepen the well to determine
the presence of Operc sands. The Completion Rig will be able to
conduct this deepening exercise and it is expected to take 4 days to complete.
Once the well has reached its final depth electric logging will be undertaken to determine the commerciality of any
Operc sands identified. If these sands are determined to be commercial a development well will be required to
commercialise these lower sands as the reduced well bore size will be inadequate in this well.
Following this exercise testing of the identified 3 sands will commence. Electric Log results of the Dugas & Leblanc
#1 indicated over 120ft of net pay (both oil and gas) over three sands.
The Company has received right of way access for a pipeline and is in the process of completing a gas sales
agreement with Gulf South to commercialise this discovery.
The Big Hum and Operc Sands are an amplitude anomaly targeting 1.2 MMBO and 3 BCF gas. If the well is
successful initial flow rates are expected to be around the 200+ barrels of oil per day and 1,000 MCF per day.
Partners in the Dugas & Leblanc #1 Well are:
Grand Gulf Energy Ltd (ASX: GGE) 39.50% WI
Golden Gate Petroleum Ltd (ASX: GGP) 15.00% WI
Other partners 45.50% WI


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## rabbit59 (30 July 2010)

is this the start of some good news? 

announcement out this morning, big purchase, looks enticing...

Lets hope some interest brews early for big august month


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## J&M (30 July 2010)

Copied from GGP 

Golden Gate Petroleum (ASX: GGP) is pleased to announce that it has entered into a binding agreement with
Arturus Capital Ltd (ASX: AKW) for the purchase of 100% of the assets held by Arturus through its whollyowned
subsidiary Arturus Energy LLC in a producing oil and gas field plus nearby leased acreage totalling
8,806 gross acres. The Assets are located in the prolific hydrocarbon producing Permian Basin in Reagan and
Irion County, Texas.
The primary benefits of this Asset purchase to GGP shareholders include:
• GGP will be reporting oil and gas proven reserves (P1). Based on a recent reserve report of the asset,
there are reserves of 4.358 million barrels of proven oil reserves (mostly proven undeveloped) and
11.542 billion cubic feet of proven gas reserves.
• The Oil and Gas Assets present low risk development wells and will provide a balanced portfolio
offsetting GGP’s current higher risk exploration projects. Ultimately this new Asset will provide an
ideal funding source for continuing high reward exploration plays and reducing the dependence on
share equity.
• The Asset’s reserve study identified 48 producing wells (not all presently on production) with potential
to increase production in an upper zone by re-completing each well. Currently, there is approximately
40 barrels per day of oil production and there is the potential to significantly increase production at
low cost from the existing well bores.
• In addition to the existing producing wells, the reserve study identified 69 new potential well
locations. Each well would cost approximately $1.5 million to drill and complete and is estimated to
recover over 100,000 barrels of oil equivalent. The oil is high quality and includes very rich gas that
also contains valuable gas liquids.
• By acquiring a 100% working interest with a 75% net revenue interest in the very large 8,806 acre
leasehold position, there is significant upside from probable resource recoveries well beyond the
reserve study. Estimates from existing drilling programs in the region indicate that each 640 acre
section (there are approximately 14 sections in the leaseholding) has the potential to recover up to
1.5 million barrels of oil equivalent.
• Each well bore is likely to exhibit multi-pay intervals already producing in and around the leasehold
position from 6 primary and secondary oil and gas bearing zones at shallow depths from 5,500 feet to
10,000 feet. Success rates from drilling in the area are over 99%.
• The onshore Permian Basin has a long history of oil and development and has received a renewed
interest from both capital providers and industry participants due to the current offshore drilling ban
in America. Holding a 100% working interest position provides GGP the opportunity to partner with
companies looking onshore for new reserves to offset the long expected delays in permitting newwells particularly in the Gulf of Mexico. Discussions have already begun with one potential industry
partner.
Transaction


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## noie (2 August 2010)

Realized today this and *GGE *- Grand Gulf Energy
are linked in their Dugas & Leblanc #1 Well


```
Partners in the Dugas & Leblanc #1 Well are:
Grand Gulf Energy Ltd (ASX: GGE)	39.50% WI
Golden Gate Petroleum Ltd (ASX: GGP)	15.00% WI
Other partners				45.50% WI
```

today they announced

Napoleonville-- Dugas & Leblanc #1 Well, Assumption Parish,
Louisiana, Operator 39.5% WI
Following the announcement dated 22 July 2010 the Board
advises that the Dugas & Leblanc #1 well has been deepened to
8,080 ft and has logged an additional 6ft of sand below the shoe
and an additional interval of a further 28ft of pay in the Operc
Sand.
This increases the total logged pay to over 160ft of pay over 4 pay
sands.
During the initial deepening and circulating, the well produced
significant oil to surface into the mud tank.

oh and GGE SP up 5%
and    GGP SP up 3%


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## cupnoodle (6 September 2010)

*Oil Discovery at Silverwood*

The Board of Golden Gate Petroleum Ltd (ASX: GGP) advises that the Richardson #1 Well has completed testing and analysis of the primary Vicksburg Sand target interval. Based on the mudlogs, electric logs, sidewalls cores and additional analysis from Schlumberger and others, it has been determined that there is approximately 18 feet of potential net oil pay. As a consequence, the partners have elected to complete the well for production testing and determine the commercial significance of the interval. Completion work has begun and a testing program will be developed over the next week in preparation for perforating and possibly stimulating the objective. 

The Richardson # 1 Well was drilled to a depth of 9,500 feet. The mud log recorded a gas show in the primary Vicksburg Sand target interval covering approximately 26 feet which is slightly larger than original projections. The electric log responses in the Richardson # 1 well were very similar to an adjacent well that reached the Vicksburg Sand and flowed oil and gas to surface but mechanically was not prepared for the unique geo-pressured environment known to be found in the Vicksburg Sand at Silverwood. Some of the sidewall cores contained oil, although the retrieval rate was low due to the nature of the formation. A second logging run was performed by Schlumberger who recommended completion and testing.


----------



## adam.francki (20 October 2010)

GGP have shat themselves  from what i've read the majority of the projects they were on have failed? Does anyone else have an opinion or information I may have missed?


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## Albi (20 October 2010)

It  was very difficult for me to come out from this stock. I bought it at .052 and hold it for 6 months. Than I read a recommandadtion and valuaion of stock and came out at .030. It was a big loss but thanks god not that with BBI.I read that the share value of ggp is arround .010 two two months back. At present what it is dont know. DYOR


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## ubtheboss (21 October 2010)

GGP has had a string of duds because of this Napoleanville Salt Dome property.  Salt domes can often be good indicators of hydrocarbons but so far it's been a big zero:

- Clifton lands #1: dud
- Sagers #1: dud
- Dugas & Leblanc #1: dud

Having said GGP has had some small successes.  Going back a few months I see these wells in production:

- Richardson #1
- Fausse Point
- Jumonville #1

Coming up I could only find three wells mentioned by name:

- Sugar Valley #1
- Jumonville #2
- Dugas & Leblanc #2

Their annual report is a real nightmare:

As of EOFY 2010 they had 

- $7.5 mill cash
- resource (non-current) assets of $9.96 mill

- No loan debt but total liabilities of $4.7 mill

They had a total loss of $8.7 mill for 2009
They had a total loss of $15.4 for 2010

The only reason they have any equity therefore is because they keep raising capital/ issuing shares and diluting everyone's holdings.  Issued shares went from:

2009- 272.8 mill
2010- 975.83 mill

Unfortunately I only just recently started learning how to interpret annual reports to determine intrinsic value.  I bought GGP on a tip from The Speculator in the Eureka Report before I knew what the hell I was doing in the market.  It's going to be an expensive lesson because I'm stuck back at 4.6c

If you're like me (albi, you're luck you're not) then you can only hope and pray that Fausse Point does turn out much bigger as they kinda of suspect it will.

No point in getting out now.  I might wait to see if GGP consolidates for a few months then buy a little to lower my average and hope for the best.

Then again if I sell now... a little of something is better than a lot of nothing...


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## King EU (23 November 2010)

Someone please tell me that i'm reading something wrong from that prospectus that was released this afternoon... are they seriously offering up a singular option at $0.08?


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## Chesty (1 December 2010)

King EU said:


> Someone please tell me that i'm reading something wrong from that prospectus that was released this afternoon... are they seriously offering up a singular option at $0.08?




They are obviously expecting big things to happen once that well starts pumping oil onshore. Might be time to jump in ?


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## Chesty (1 December 2010)

Anybody wanna weigh in here seeing as I'm holding 500,000 shares at .013. I wanna feel better about them, where are all the exploration experts ?


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## buffalo66 (4 March 2011)

GGP Announcement today...

_GGP has acquired a proven, high quality oil and gas development opportunity with over a 100 well
potential which provides an estimated 14 million barrels of oil equivalent in potential recoverables.
This low risk hydrocarbon producing leasehold is part of the Permian Basin, Texas and is now owned
100% by GGP.
● Based on an earlier reserve report which will need to be updated, there are estimated reserves of
over 4.0 million barrels of proven undeveloped oil reserves and over 10.0 billion cubic feet of proven
undeveloped gas reserves. Development of the newly acquired leasehold is to begin as soon as practical. Newly proven fracture
stimulation technologies already providing good economic results in the surrounding areas will be
used in each well’s completion. Eight wells will initially be permitted.
● Each well is expected to cost approximately $1.5 million to drill and complete and is estimated to
recover over 100,000 barrels of oil equivalent over a 30 year production life. The oil is high quality
and includes very rich gas that also contains valuable gas liquids, both providing a premium to WTI
and Henry Hub pricing._

Anyone know of any well results from other plays in the Permian Basin - Texas?


----------



## buffalo66 (8 March 2011)

100M shares traded yesterday, ten times normal activity & almost 10% of total...clearly renewed interest in this stock 

Permian Basin is massive - http://www.oilshalegas.com/permianbasinoil.html - puts GGP's acquisiton of 9k acreas in perspective! Still, 14m probable reserves make for a promising spec play...


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## buffalo66 (8 March 2011)

Up 13% today on second day of strong buying...sp increase reflects the spread reversing in 3 days from 1:2 to 2:1 buyers to sellers...


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## J&M (8 March 2011)

This looks like a wake up call I was gonna sell at a loss 
but decided to let it ride as its only a small amount I have 
The stock was buy in the Eureka report last year by David H 
I do have a few at 031 and just got in at .015 

thanks for your posts buffalo66


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## buffalo66 (9 March 2011)

Ahh..some company on this thread at last! Bet you are a pleased holder J&M this morning (as am I)..a lot of action here - 22m shares traded already, dble last weeks normal daily activity in half an hour. 

Already up 18% today, that's a 33% gain in 2 days...55% in a week...need to run the numbers on this as that's a huge change of fortunes for a stock that's been sliding into the gutter for 6 months..


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## binginbarrel (10 March 2011)

Today doesn`t look as good with GGP, I thought there was someone trying to trigger some stoplosses on the oppies yesterday.

Maybe this is the case on the fully paids today? Just don`t know, but the buyers at .016 are gradually increasing and it could do with a little pull back.

What are peoples thoughts on the sellers on the ggpoa`s? Seems extra loaded today, traders wanting out?

Overall I can`t see any downside considering the others in the Permian basin. See TEX of late.


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## binginbarrel (17 March 2011)

Looks like there`s drilling in May this year.
The dusters have been canned, forward from here i`d reckon.
Big red day and GGP holding.


----------



## buffalo66 (17 March 2011)

binginbarrel said:


> Looks like there`s drilling in May this year.
> The dusters have been canned, forward from here i`d reckon.
> Big red day and GGP holding.




Quite impressive numbers- $87M raised in equity, 90% of that ($77M) since written off as accumulated losses  

Bingin I do agree tho...Wolfberry Fairway acquisiton sounds positive, if they can get the gear & drill come mid year, 2nd half of 2011 could be big for GGP.


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## oilmad (17 March 2011)

binginbarrel said:


> Looks like there`s drilling in May this year.
> The dusters have been canned, forward from here i`d reckon.
> Big red day and GGP holding.




GGP looks the goods at this level. IMO its a screaming buy. SP will run hard once overrall market sentiment settles


----------



## rabbit59 (21 April 2011)

I have been a follower of Golden Gate for some time now, Jumped in earlier this year at 1.2c... seems to have been some heavy interest in the past few days... and looks like its going to be an eventful day today! 

Sit back......

(anyone know anything i dont?)


----------



## rcm617 (21 April 2011)

Eureka Report mentioned it in the Speculator last night, they usually have quite a bit of a following.


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## rabbit59 (21 April 2011)

rcm617 said:


> Eureka Report mentioned it in the Speculator last night, they usually have quite a bit of a following.




as you typed, i read my report  thanks usually has a bit of an impact, im sure some of those punters would like to get some money back from when is was last advised, at around 4.2c from memory...


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## Assasin (23 May 2011)

My thoughts on this company is that it has huge potential, especially in the Permium Basin which is the reason I bought in.
Everything else GGP is currently involved with, you could take it or leave it but the presentation on the PB sold me.
Once drilling commences, look out.


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## Assasin (8 September 2011)

For a 1c share, this must really be rated with huge upside.
Drilling program announced with good income already coming in. 2 great announcements today.Dilution is a problem but at 1c, I doubt there are better for a short term win.
Any thoughts?


----------



## alexc2005 (20 October 2011)

Another wrap in the Eureka report that came out last night.

Followed by a small jump in share price.

Tried to fill an order at 1.1c yesterday but the momentum got the better of me.

To those who picked it up at .8c, good job! I got gunshy


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## Assasin (25 October 2011)

I think this is primed for a great short term trading period. Previous mismanagement means that dillution will hold it back from full potential so will never be another AUT however results from well 1 in the Permian Basin look extremely exciting.
Would love to get someone with some technicals opinion on this.  Techa?? anyone ??


----------



## Assasin (17 November 2011)

Now up to 2c and looks like it will keep going with impending news on the first 2 successful wells.
Positive announcements regarding next wells to drill will further push this up.
Very positive short term future.


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## Assasin (29 November 2011)

I expect a very positive announcement tomorrow morning regarding first 2 wells numbers.

Also coming shortly should be news on the next 2 drills.

Dillution is a massive problem with this company, but surely there's a nice bonus for christmas for all investors. Has more than doubled it's sp in the last 8weeks with a long way to go imo.

Anyone out there??


----------



## alexc2005 (29 November 2011)

Assasin said:


> I expect a very positive announcement tomorrow morning regarding first 2 wells numbers.
> 
> Also coming shortly should be news on the next 2 drills.
> 
> ...




I'm here mate, watching, waiting.

Supposed to have an announcement out by now. This price can only hold so long without any news.

But i also suspect it will be very good news and we will see a surge in price. How much, who knows. But if its anything like last time it could be a doubling again?

Sitting, waiting, wishing.


----------



## PinguPingu (29 November 2011)

Us small-mid cap oil hopefuls are around  

Nice new 1yr high today on that imminent announcement. 

Alex, are you me? I swear we must hold very similar portfolios because I see you in a lot of the share threads I hold :


Assasin, do you think there's any chance of some sought of share repurchasing or some other reduction of dilution?


----------



## Assasin (29 November 2011)

PinguPingu said:


> Us small-mid cap oil hopefuls are around
> 
> Nice new 1yr high today on that imminent announcement.
> 
> ...




That's a very good question. If they sold some of their massive Permian Basin acreage it should go towards a buy-back but without sounding negative, this management is very good at dishing out shares like candy.
IMO this is a very good short term stock.


----------



## alexc2005 (29 November 2011)

PinguPingu said:


> Us small-mid cap oil hopefuls are around
> 
> Nice new 1yr high today on that imminent announcement.
> 
> ...




Yeah 9% increase on an imminent announcement, can't wait till it's actually announced!

Haha, maybe I am you, when i first started trading I read thread after thread on here to get ideas of what stocks to look at. Perhaps we just like the same stocks .

Although, ggp and gcn are the only ones keeping my portfolio alive atm.


----------



## pavilion103 (29 November 2011)

I wonder if this announcement will come tomorrow?

Buy-stop entry at 0.024? or will it gap up?

Not sure where to put my protective stop!


----------



## erichmj (30 November 2011)




----------



## PinguPingu (30 November 2011)

Announcements are out! Permian as well as other projects.



> ...Oil and gas have been flowing to surface with the frac fluid, well in advance of any expected hydrocarbon returns.


----------



## alexc2005 (30 November 2011)

PinguPingu said:


> Announcements are out! Permian as well as other projects.




yet we are down 8%??


----------



## PinguPingu (30 November 2011)

13% by end of trade, looks like some profit taking after almost getting into the mid 2c range. GGP is also not completely de-risked, but the AGM seems to paint a pretty picture of some nice production starting in early 2012.


----------



## pavilion103 (30 November 2011)

Smart money selling off on good news.


----------



## Assasin (1 December 2011)

Well it's a bit early yet to say that smart money is selling but today's sp result is certainly dissapointing. I don't know what more a 2c company has to report to hold it's sp position. To drop that much astounds me.
Maybe the past mis-management and amount of shares (1.7b) is coming home to bite.
I still believe it will shoot very shortly when flow rates are reported.
I only have a couple of mill bought at 1.4 and .009 and plan to be out by Christmas and estimating 3c.
Do not have any faith in management or their ability to control dilution. Not saying that the SP won't go any higher and this may be a great trading stock in 2012 but it sure aint no AUT.
Happy to here what others think.


----------



## PinguPingu (1 December 2011)

Yep, looks like more dilution in the near future... holding 2c though so good flow rates should hopefully push it back up to the mid 2c range.

I'm also short term as well having bought in at 0.016/7 but so far GGP has nicely paid for some HECS.


----------



## alexc2005 (8 December 2011)

Nice announcement followed by a full dedication of this weeks speculator report to GGP.

Yet negative price movement?

I don't understand these things some times. But on all accounts GGP is set to soar imo, future results may fuel more of a price movement.


----------



## PinguPingu (8 December 2011)

Can be anything really, profit taking, selling because of Euro worries, day traders (10k of GGP moving one tick is ~550 profit/loss), doubts because of the capital raising. But if they keep on track with their drilling of a well a month (approx) and time the CR right it should move up as they keep adding value and they will be adding quite a lot in the next few months.


----------



## TMC93 (18 December 2011)

Have been doing a bit of research on this company,  prospects look good, the big factor i like is their tenement in the Permian Basin, just went through their annual report and will go through the rest of their announcements tomorrow. I like look of their chart though:


----------



## Assasin (19 December 2011)

I'd be interested to hear what you decide TCM.

Sold most of mine last week at 2.1c.  Based on experience with other small cap oilers, I feel this will retrace back to or close to CR price (1.7).
I also feel that the announcement of further dillution has just killed any chance of Oppies reaching their destination which will also keep the SP down while holders of Oppies try and bail out early next year. Can't see SP reaching 8c by August next year.
However, IMO the Permian Basin acreage GGP opperate in is the real deal and will be a company changer if management can step up. And I an confident 2012 may show a good return.
Merry Christmas All.


----------



## TMC93 (20 December 2011)

I am trying to build a group of speccies to hold for a few years rather than try to pick the ups and downs. I find that all my success has been in picking the right companies but i often lose track of my long term goals by watching the market short term. I will keep a look out for this company to get to an attractive price, IMO the market depth is still pretty strong so i think it will stay up around the 2c mark for a little while longer. My entry, unless circumstances change, would be around the 1.5-1.6 c mark. Still have to go through their drilling results but i really like the 3 year + outlook for this company. Just a newbies thoughts, DYOR.


----------



## PinguPingu (4 January 2012)

Nice jump today, as usual I sold too early at 0.024 but may look to reenter after the CR if they continue to drill successfully.


----------



## alexc2005 (4 January 2012)

It may be a stupid question,

But how do we participate in the CR?

I couldn't see any dates or anything.. or is it just "coming soon"?


----------



## Dump it (4 January 2012)

No record date has been announced for CR, so when they announce the date just hold stock before then and your in.


----------



## rivi (5 April 2012)

Can anyone give me their thoughts on this stock?

I see it as a good long term hold, given their acreage in the Permian Basin.


----------



## Nortorious (5 April 2012)

Hi Rivi,

I'm very much still learning this caper so take what I say with a grain a salt and do your own research to figure out what you think about GGP.

Depending on which school of thought you are from will determine what you think about this stock.

Fundamentally, I think the right base is being built for a strong company and long term share price appreciation. How far can it go up?? Well that is dependent on what comes out of the ground. One issue with the fundamentals is the cash position. GGP has just completed a capital raising to fund operations in the short term. I would think that they need a JV partner to embark on their aggressive drilling campaign, but this is a strong possibility in the short term (in my opinion). Plenty of other fundamental things to consider but I've headed away from the fundamental approach to investing (personal choice of what works for me).

Technically, I think this stock will probably head down a little bit before it goes up. This is based on the new supply that came in at 1.7c. I would expect that profit taking will happen (or is happening) and if it breaks through the 2c barrier we may see a mass exodus and locking in of profits. Don't forget that this could be driven down by larger holders to soak up this supply at cheap prices.

I'm waiting on an entry to open up before re-entering this stock.

Personally I like it for a long termer, but would like to profit take along the way and try and get my entry and exits as efficient as possible (based on the indicators I am now using).

Anyway, everything above are only my thoughts. I can't claim to have any expertise in this field as I still consider myself a newbie. 

What do you think of GGP?

All the best for your investing.......


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## TMC93 (16 June 2012)

Been having a bit of a rough time the last few months, placed in a trading halt until tuesday sometime. Good news in the permian basin?


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## Vader (16 June 2012)

TMC93 said:


> Been having a bit of a rough time the last few months, placed in a trading halt until tuesday sometime. Good news in the permian basin?




The announcement says 'pending a further announcement concerning a potential capital raising'.


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## TMC93 (16 June 2012)

Serves me right for speed reading


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## berbouy (16 October 2012)

*golden gate petroleum*

having held some of these for a while now, as an entry into the permian -has anybody had experience with golden gate -i was not around when this company was involved with verus (vil) when trying to get something from the fausse point project.i understand that the fausse point drilling/testing has come to nothing. is that all over now?looking at the verus share price, it looks catastrophic from the vil perspective- and ggp is not getting any closer to 1000 boepd by the looks of the share price at 008-any views/optimism/pessimism to add to any discussion on ggp?


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## Assasin (16 October 2012)

Hi Berbouy,

I believe GGP has been very dissapointing of late and it has just been confirmed that legal action is holding up PB proceedings. I still believe once this is sorted out and drilling begins things may turn around however, as posted before, still have concerns regarding managment capabilities.
I also believe that the PB and EFS projects that GGP are involved with are the only ones worth hanging your hat on.
I've got a few mill of these currently well in the red so hoping for a turn around in fortunes but I think it will take some time.
Good luck.


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## berbouy (16 October 2012)

thanks assasin.the joint venture that was expected, but now (shelved?)didnt eventuate, which has obviously put the brakes on-and i do not think you are alone in questioning the business style of management-i bought a few despite management,as i think that if they ever get it together, and stop the dilution that is  evident, then the success rate of the permian wells is irresistable-looks like a horrifying chart over a few years, capital raisings do not seem to have done much for shareholder value?
but as seen with maverick (mad) and sirius (sir) sometimes we can be suprised to the upside.bottom drawer for now, hopefully get back into the green sometime soon- like most others , well underwater here.


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## EddieRobinson (17 October 2012)

berbouy said:


> thanks assasin.the joint venture that was expected, but now (shelved?)didnt eventuate, which has obviously put the brakes on-and i do not think you are alone in questioning the business style of management-i bought a few despite management,as i think that if they ever get it together, and stop the dilution that is  evident, then the success rate of the permian wells is irresistable-looks like a horrifying chart over a few years, capital raisings do not seem to have done much for shareholder value?
> but as seen with maverick (mad) and sirius (sir) sometimes we can be suprised to the upside.bottom drawer for now, hopefully get back into the green sometime soon- like most others , well underwater here.




I certainly agree with the dilution effects and happily voted against the remuneration package for the AGM. Highly unlikely to pour anymore into the CR's


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## Assasin (19 October 2012)

For those not fully aware of GGP's last 10 months, todays announcement reads really well for a penny dreadful. With a current sp of .08, if they can complete half of what they have going then a positive sentiment should be gained and a rising sp the reward.
Or am I dreaming.


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## berbouy (26 October 2012)

assasin- looks like us mushrooms may have a voice, a 249 is being digested (check asx release after hours)as we speak- the investorgroup that has been building of late may well execute a few changes, and hopefully get investors refocussed on the potential of the permian- good luck


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## toptips (30 October 2012)

*OPEN QUESTIONS TO GGP REBELS*

Sighting the following article regarding the recently issued S249D notice to GGP:

_http://www.smh.com.au/business/birds-eye-view-on-proceedings-20121029-28fq3.html_
(bottom of article)

Please answer the following questions:

1. If the group is successful in gaining a seat on the board, how will they propose the company funds the next 12 months of exploration/development, knowing that the legal case has prevented the company from accessing traditional debt finance.

2. Based on the GGP board position candidates skill set, how will this enable them to take this company forward, and do they have a plan that can achieve that?

3. How do the potential GGP board position candidates plan to enable the company to maximise the potential of our Permian Basin assets?


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## toptips (1 November 2012)

"_Graves told The Speculator that a move to replace just two of the three existing directors could indicate a takeover by stealth._"

Read more at EurekaReport: http://www.eurekareport.com.au/article/2012/10/31/mining-stocks/speculator#ixzz2Axz3Tnzo


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