# GOP - Gippsland Offshore Petroleum



## YOUNG_TRADER (17 March 2006)

An Oil and Gas dog, that is dead in the water since its failure in Gippsland, or is it?

Shares:  60m
Options: 55m 30/11/06 20c

Cash: $2m+ 

Has 2 new projects one is very very interesting.

1. JAMAICAN 50:50 JV
Currently doing seismic and 2d data interpretation in order to indentify where best to do a 3D survey, drill targets should be ready by October

2. European Venture, (This is the one I think has alot of potential) 50:50 JV with GGX, Currently evaluating prospects etc and is applying for exploration acerage, is being tight lipped about details, but has disclosed the area it is applying for has reserves of 13TCF + 500mmbls oil surrounding it,

Think EPG people!!!! remember what happened to that, anyone else follow this?


----------



## BraceFace (20 March 2006)

Hi there YT,

I bought in to GOP as a punt prior to their poor drilling results late last year.
I vaguely seem to remember there were a few other punters on this forum (in the stock tipping contest) who were also talking it up at the time.

Unfortunately, I took a hit on the crappy results but I have maintained my position (albeit a small one). 

It only takes a few speculators to move in, particularly with those interesting points you have made, and bang, up she goes again..... I hope....  

I'll keep watching with interest.

A chart anyone?


----------



## YOUNG_TRADER (20 March 2006)

Bas was my prefered exposure (12c-24c 100% gain   ) for the Gippsland drilling, sold pre-spud as chances of succes were way too low,


But I think GOP maybe onto something with its move to Europe, 

I'm glad its not joinging the band wagon and going to USA, thats been done and done, too many Aussie specs in USA now not enough in Europe, 

Hopefully once permits are awarded and details released stock will follow EPG although it doesn't need to replicate it 7.2c - 75c in a few months after announcing change o focus to European Gas targets, thats 1000%   

I'd be happy with 9c - 20c but then again you never know


----------



## BraceFace (21 March 2006)

Back up to 9c today but still pretty low volumes.
Anything above 10c would almost count as a breakout!


----------



## YOUNG_TRADER (22 March 2006)

A bit of interest today?


----------



## laurie (22 March 2006)

Yeh on the same horse as you guys so lets see if we can ride it up   

cheers laurie


----------



## YOUNG_TRADER (24 March 2006)

650k seller at 10c dissappeared? ? ? ?


----------



## YOUNG_TRADER (30 March 2006)

Gippsland Offshore Petroleum and BHP Billiton execute technology
agreement
• GOP to apply FALCON ® technology for oil and gas exploration on a global
basis
• BHP Billiton retains the right to become GOP’s partner in any FALCON ®
exploration play
• FALCON ® to be applied in prospective basins where surface access or difficult
geology limits the application of traditional methods
• GOP’s first FALCON ® survey to be flown in Jamaica commencing in April 2006




Not bad, get to use BHP's technology and if they find something BHP get to be a partner, well thats the funding side taken care of if they come up with drill targets,

I want to know whats going on with GOP's European Gas exploration permits, I think thats where the real value is, like EPG


----------



## YOUNG_TRADER (31 March 2006)

GOP looks to have broken above 5 month trending of 9c - 11c

Although it was on some very very low volumes, 

Be interesting to see what the next few weeks have in store for it


----------



## YOUNG_TRADER (3 April 2006)

Again very low volumes, but chart looks to be in uptrend,

News about Jamacian Gas interests with BHP?

Or the European Gas Interests?

Time will tell


----------



## YOUNG_TRADER (3 April 2006)

Although low volume, GOP looks very interesting, why the buying?

Anyone have any views apart from the European and Jamaican Gas interests?


----------



## YOUNG_TRADER (4 April 2006)

YOUNG_TRADER said:
			
		

> Again very low volumes, but chart looks to be in uptrend,
> 
> News about Jamacian Gas interests with BHP?
> 
> ...





Jamaican JV with BHP it was,

So little depth, its moved about 80% from 8.5c to 15c in 2 weeks, looks interesting


----------



## YOUNG_TRADER (9 May 2006)

Moving up towards 6 month high of 15c,

Keep an eye on this peeps


----------



## lbaz9 (9 May 2006)

I was lucky enough to buy these on the float and get out at 24c and the options at 8c, so i made a small profit.  Management were talking up their chances of finding oil in Gippsland the first time and their stock had a run, and of course they had nothing.  I wouldn't touch them.


----------



## YOUNG_TRADER (11 May 2006)

lbaz9 said:
			
		

> I was lucky enough to buy these on the float and get out at 24c and the options at 8c, so i made a small profit.  Management were talking up their chances of finding oil in Gippsland the first time and their stock had a run, and of course they had nothing.  I wouldn't touch them.




Mate read my starting post on this stock

_An Oil and Gas dog, that is dead in the water since its failure in Gippsland, or is it?

Shares: 60m
Options: 55m 30/11/06 20c

Cash: $2m+ 

Has 2 new projects one is very very interesting.

1. JAMAICAN 50:50 JV
Currently doing seismic and 2d data interpretation in order to indentify where best to do a 3D survey, drill targets should be ready by October

2. European Venture, (This is the one I think has alot of potential) 50:50 JV with GGX, Currently evaluating prospects etc and is applying for exploration acerage, is being tight lipped about details, but has disclosed the area it is applying for has reserves of 13TCF + 500mmbls oil surrounding it,

Think EPG people!!!! remember what happened to that, anyone else follow this?_


You have to have an open mind, OEX was and Oil and Gas dog dead in the water after its failure @ Rockwood, take a look at its chart and see what some new projects has done for it,

GOP was a dog dead in the water, but it had cash and 2 new projects, with BHP's backing the Jamican project looks very interesting,

Anyway its gone into a trading halt be interested to see what it is, I doubt finance cause they have enough cash but you never know


----------



## YOUNG_TRADER (11 May 2006)

Hmmm, didn't see the second ann released this morning for some reason, 'it is a finance/placement based trading halt'

Still it may take until Sept but results of survey should be very interesting


----------



## YOUNG_TRADER (17 July 2006)

On an otherwise dog red of a day, this stock seems to have broken out above its 15c 6 month resistance level of large volumes (for this stock avg vol is 250k so today is 4x avg)

Could it be that first results of the BHP/GOP JV Survey for giant oil targets in Jamaica are flowing to insiders?


----------



## YOUNG_TRADER (24 July 2006)

Stock has held above previous breakout of 15c to move up and test next resistance at 18c,

Interestingly on no news flow,

Me thinks the insiders are getting bits and pieces of info,

I look at it like this, the GOM holds some of the largest oil fields in the world and offshore Jamaica isn't too far away, and it has never been properly explored, however there are some reports from the 70's 80's and 90's which highlight the geological possibility of huge multi billion barrel fields, which at an oil price of $25US Bl were not worth pursuing due to the high cost of offshore drilling,

If GOP finds anything, its JV with BHP would ensure adequate funding for development

Definately one to watch as a discovery could quickly send this stock to the moon


----------



## YOUNG_TRADER (25 July 2006)

Has gaped open above 18c resistance level and moved up as high as 20c, 

Has anyone heard any rumours here to explain recent price action?

My only thoughts are insiders,


----------



## YOUNG_TRADER (17 August 2006)

Faces resistance at 20c, but stock seems to want to break it,

Definately something going on here, take a look at chart, survey info must be trickling back and insiders are buying,

I think drill targets will be ready by Oct/Nov, 

Have been on this stock since 9c level in March, was not at all effected by May sell off, does not get effected by daily sentiment etc which shows there is something at work behind the scenes


----------



## YOUNG_TRADER (18 August 2006)

Someone just bought a 500k parcel @ 19c, No news for so long, whats going on


----------



## Doctor Dave (21 September 2006)

Does anyone understand the recent reports from Jamaica JV? 
Are they expect to be able to tell us good news or bad news from Oct/Nov?


----------



## YOUNG_TRADER (22 September 2006)

Haven't posted on GOP for a bit, but I sold my stock @ 19c (bought at 8-9c) and I sold my opies @ 3c (bought @ 0.7c) so I made a killing on this spec, will look to re-enter

They should release results fot Jamiacan Exploration between now and Dec,

Also of interest is their European Gas Permit Applications, keep an eye out for these, expected early 07


----------



## YOUNG_TRADER (16 October 2006)

I have a feeling that theJamaica survey interpretation is due out soon,

Given current mkt sentiment if they ann something along the lines of 

"Jamaica potential to host up to 1 Billion Barrels of Oil" (You get the idea)

The stock will rocket

Day traders keep this on your watchlist,

Investors stay away or you may get burnt!


----------



## YOUNG_TRADER (30 October 2006)

YOUNG_TRADER said:
			
		

> I have a feeling that theJamaica survey interpretation is due out soon,
> 
> Given current mkt sentiment if they ann something along the lines of
> 
> ...





Stock has moved back up to 12month high resistance of 20c on no news which suggests Jamacian survey interpretation is finished and they have a large target identified,

The 20c opies are interesting, they expire in 3-4weeks, however if the stock moves up 5% to 21c then they are in the money as opies are currently trading under 1c, if stock moves up 10% to 22c they are well in the money and if stock shoots up to say 25c well then opies are worth 4-5c so I've re-entered opies as a leveraged play on Jamaican results

Day traders and spec punters keep an eye on this


----------



## YOUNG_TRADER (30 October 2006)

So here's why the stock moved up to 20c on no news
Article in the Age today!



*Market eyes GOP as next big thing*

October 30, 2006
THE friendly takeover of Hardman Resources by London's Tullow Oil has many of Hardman's supporters casting around for a replacement stock.

Hardman made its name by heading off to parts of the world where it could gain access to large parts of hydrocarbon basins that had been spurned by the mainstream industry.

That was the recipe for the Mauritanian oil play that turned tiddler explorer Hardman into the $1.47 billion oil producer that Tullow is now swallowing.

Finding a local replacement stock is not easy. Most of the juniors chase small oil pools in the Cooper/Eromanga basins or play second fiddle to bigger partners in the offshore Perth Basin and Carnarvon Basin.

There isn't the leverage in those sort of plays for the juniors to have a crack at the big time, as Hardman did when it secured the oil fairway offshore Mauritania and brought Woodside in to make it happen.

That's why the search for a Hardman replacement has led many to run their eye over the Melbourne-based junior, Gippsland Offshore Petroleum.

*GOP last traded at 17.5 ¢ a share for a market capitalisation of $20 million and, at last count, was holding $8.6 million cash*. It came to market in January 2005 after raising $12 million and was involved in drilling three wells on the margin of the Gippsland Basin that tested for oil migrating from the prolific central deep area to the so-called Northern platform area.

Its entry to the industry was courtesy of its access to BHP Billiton's whizz-bang Falcon airborne gravity surveying system, which allows rapid remote measurement of sub-surface rock density.

Falcon threw up structural ideas that were worth chasing, and while there was some technical success with the drilling program, GOP realised there would be little sharemarket joy if it rested on its laurels.

*Since then an agreement has been struck with BHP Billiton that allows GOP to seek Falcon-driven opportunities for oil and gas exploration globally.*

Any new application of Falcon for oil exploration developed under the agreement will be available for the independent use of either party. *BHP Billiton gets the option to buy in to projects GOP generates or it can match any farm-in proposal that GOP receives.*

*It has been working a treat, with GOP using Falcon's capabilities to secure exploration acreage positions in Jamaica, Kenya and southern France.*

Of the three, Woodside and its joint-venture partner, Repsol, are close to putting Kenya's offshore oil potential to the test in a $70-million exploration well. Oil explorers don't spend that sort of money unless there's the potential for discoveries of several hundred million barrels.

Woodside confirmed last week the well would be spudded before the end of the year by Chikyu, a Japanese drill ship that can drill in water depths of more than 2000 metres.

Like the Woodside/Hardman joint venture before it, success for the Woodside/Repsol joint venture will mean it will be game on for all of the permit holders in the region.

GOP's entry was through a farm-in deal on Block L-6 in the Lamu Basin with Pancontinental Oil & Gas. Block L-6 straddles the northern coast of Kenya and traditional seismic work has identified four offshore leads. More seismic work is planned, as is the flying of Falcon to enable the offshore understanding to be extrapolated to the onshore area.

*But it will be what comes from the Woodside/Repsol drilling that will drive local market interest in GOP's footprint.*

*GOP's Jamaican play is also expected to interest the local market. GOP doesn't just have the odd permit ”” it's picked up a big chunk of the Walton Basin offshore Jamaica.*

In the first exploration licensing round in the country for more than 20 years, GOP teamed with Perth-based Finder Exploration in a successful bid for four exploration blocks covering 11,500 square kilometres in a joint venture with Petroleum Corporation of Jamaica.

Ten of the 11 wells previously drilled in the Walton Basin encountered hydrocarbons but the target selection was hampered by poor seismic data quality because of obstruction by sea-floor carbonates. A Falcon survey has been flown and drill targets will be generated by the end of the year.

*It's not just the GOP/Finder joint venture that wants to give Jamaica's offshore oil potential a work over. Brazilian giant Petrobras said recently it was interested in taking up some acreage. Under its Falcon agreement with GOP, our own giant, BHP Billiton, is already there.*

Garimpeiro holds Hardman and BHP Billiton shares.


----------



## juddy (10 November 2006)

Chart is starting to look good. Ascending triangle with resistance at 20c. Keep an eye out for the break.


----------



## juddy (10 November 2006)

20c resistance being nibbled away at now. You holding this YT?


----------



## YOUNG_TRADER (10 November 2006)

juddy said:
			
		

> 20c resistance being nibbled away at now. You holding this YT?





Just the opies, have traded in and out of them 4 times now, did my last buying about a week back at 0.006, 

I know this companies management, they are far to savvy to let all those 20c opies go un-exercised, instead they'll wait till just before expiry, ie now to release their well targets in Jamaica boosting the share price above 20c so people will exercise their opies


----------



## juddy (10 November 2006)

YOUNG_TRADER said:
			
		

> Just the opies, have traded in and out of them 4 times now, did my last buying about a week back at 0.006,
> 
> I know this companies management, they are far to savvy to let all those 20c opies go un-exercised, instead they'll wait till just before expiry, ie now to release their well targets in Jamaica boosting the share price above 20c so people will exercise their opies





top stuff.


----------



## juddy (10 November 2006)

at 21.5c now, looks to be going on with it.


----------



## dubiousinfo (10 November 2006)

YOUNG_TRADER said:
			
		

> I know this companies management, they are far to savvy to let all those 20c opies go un-exercised, instead they'll wait till just before expiry, ie now to release their well targets in Jamaica boosting the share price above 20c so people will exercise their opies





Any chance we can get them to take over the running of JMS.


----------



## juddy (13 November 2006)

a bit of historical resistance around these low 20c levels.  would expect it to retest 20c to determine support.


----------



## YOUNG_TRADER (20 November 2006)

Opies finish very soon, Thursday this week in fact,

With last chance to exercise Thursday next week,

If GOP are the operators I think they are I reckon they'll release an ann either Tues or Wed re Well Targets in Jamaica to boost SP to get as many of their opies exercised as possible,

If they don't I'll be surprised and disappointed n the company, but I've made so much in the stock + opies I can't complain


----------



## YOUNG_TRADER (22 November 2006)

Well its now or never for GOPO

Options finish tomorrow,

Stock at 21c = options worth 1c right now 

But to get maximum exercise of options they really need to get the stock price up to 25c or so and the Jamaican Ann should do it,

C'mon GOP less than 36hrs to go lets see that Ann


----------



## YOUNG_TRADER (23 November 2006)

Very surprised at GOP management,


They have 50m 20c opies = $10m (finished today) expiring in 1 week and they made little to no attempt to update market re Jamaica and Kenya,


All they had to do was create a wee bit of interest over this last week and get the SP up to 25c or so and alot of the opies would have got exercised

Oh well I made a few G trading the opies so I should be content


----------



## white monkey (24 November 2006)

I'm with you YT -- i'd have thought they'd have made at least SOME comment!


----------



## juddy (6 December 2006)

looks to be off and running now.


----------



## Ants (29 December 2006)

GOP continuing to climb slowly and steadily. Does anyone have any knowledge on updated info for this company?


----------



## Ants (2 January 2007)

> GOP continuing to climb slowly and steadily. Does anyone have any knowledge on updated info for this company?



  bumped. ok my guess it is just people accumulating before a possble positive statement with a little bit of chasing going on mostly small trades.


----------



## yogi-in-oz (30 April 2007)

Hi folks,

GOP ... cashed up and still exploring ... will be alert for some positive
news/moves, over the next few weeks, as at least 5 significant and
positive time cycles come into play:

30042007 ... may start the rally here ... ???

04-07052007 ... alert for positive news here ... may be some news
about new hi-tech stuff being used ... ???

08052007 ... positive spotlight on GOP ...

16052007 ... minor and positive (intraday) move expected here.

21052007 ... minor news ???

24052007 ... minor and positive ... finance-related ... ???

08062007 ... 2 minor cycles here ... could still bring positive news ???

25062007 ... significant and negative cycle ... finances-related ... ???

10072007 ... 2 minor, but positive time cycles here

19-20072007 ... aggressive rally expected here ...

27-30072007 ... minor and positive news expected here.

10-13082007 ... negative spotlight on GOP

happy days

paul

 P.S. ... GOP and GOG time cycles are identical.


----------



## Sean K (18 June 2007)

There was some news out today about this that has sent it up to be looking like a potential breakout of sorts through 25 cents. Good volume.


----------



## nizar (19 July 2007)

kennas said:


> There was some news out today about this that has sent it up to be looking like a potential breakout of sorts through 25 cents. Good volume.




Yeh a good entry here wouldve been 28c and again after the big volume up day at 35c.

It seems to be forming some sort of triangle pattern on the daily chart.

I may pick up a few 2mrw, looks the goods to me. I think either 2mrw or monday its gonna go big time.


----------



## Wysiwyg (1 September 2007)

Well things are starting to become more enticing for GOP with their full control of JV partner Finder exploration.This control amounts to *100%* *ownership of the Jamaican assets* (of which seismic is presently being interpreted) and Permit AC/P36 (released as AC/04-3) in the Northern Browse Basin in North West Australia. 

Dilution to be now 209,982,380 ordinary shares.

Have to remember that lead times on these juniors can be quite long but if one looks ahead beyond a day or a world economic recession or bear market then some of these go-getters are worth a watch i.m.o.(well that`s what I do anyway)

Please research own your do. 
http://www.gop.com.au/home

Let`s not forget the environmental impact either.



> * Lobby group echoes Browse Basin gas concerns*
> A new lobby group has backed concerns about the impact of gas development from the Browse Basin on the lucrative tourism industry.
> 
> The Kimberley Marine Tourism Association this week raised concerns that gas plants being planned by two major companies could destroy the Kimberley's image as an untouched wilderness.
> ...


----------



## Wysiwyg (16 September 2007)

Since it is nearing completion of due diligence and the farming out of the Jamaican blocks I decided to do some research on Jamaican oil.
The following is an extract from the Jamaica Observer in which both optimism and pessimism are expressed.Finder is now GOP by name.  (also note the p.s.a. is high and probably set depending on e/p costs) ....



> The Australian exploration company, *Finder Exploration*, was granted a licence to conduct exploration activities on four blocks offshore southern Jamaica. The first phase of exploration activity entailed the acquisition of seismic geophysical data, which has been collected on behalf of Fugro, one of the world's largest seismic contractors.
> 
> Speaking with Caribbean Business Report from the Ministry of Industry, Technology, Energy and Commerce's Kingston headquarters, Paulwell said: "*Finder's exploration efforts have now put them in a position where they are now looking to start drilling because based on the seismic work they have **done, they are predicting billions of barrels of oil.* We will now see drilling begin some time later this year and a Chinese company is now seeking to get a drilling licence."
> 
> ...




and some pessimism/realism from Dr. Raymond Wright,senior consultant and former boss of the Petroleum Corporation of Jamaica (PCJ)...



> However, Dr Raymond Wright remains cautious about the prospects of striking "black gold" and is of the view that Jamaica will not produce big oil fields given its geological position. However, he believes that Jamaica may hit on commercially viable deposits.




Soooo , it might be that Browse Basin is the back up plan should the Walton Basin fizz.Though there is , Madagascar, France, *Kenya*, the UK and New Zealand interests as well.
Don`t you just love these high risk frontier ventures. lol  It`s never over until the drill bit sings (or stings) they say.

Anyway 80 million shares @31c are being added to the registry for the Finder acquisition (news soon) with the company aiming  to complete the farm-out process by October.

Finally what Cath Norman has to say ..



> “The combination of Gippsland Offshore and Finder will consolidate the emergence of our company as one of the new breed of exciting and fast growing oil and gas companies listed on the ASX”, Ms Norman said.




What do you think?


----------



## rhyslivs (13 November 2007)

GOP has taken quite a hiding in the last couple of days, they haven't made any negative announcements.

Anyone have any thoughts on their sudden downturn?


----------



## Kelpie (27 March 2008)

Any thoughts on when the SP might bottom ......or will it continue on its downward spiral forever????????


----------

