# GRL - Gawler Resources



## YOUNG_TRADER (20 February 2007)

*GRL*
*
Mkt Structure*
*
Shares*
50m 
Mkt Cap @ 30c = $15m
Mkt Cap @ 40c = $20m
Mkt Cap @ 50c = $25m
*
Cash*
$3m 


*
Projects*
*
Northern Territory* Uranium, 100%, N.T.
2 Exploration Licences near ANGELA and PAMELA Uranium deposits 

Very high SPEC Appeal!

*
South Australia*  Uranium + Copper + Gold, 100%, S.A.
Rock chip samples of 0.4%-0.95% Uranium + Rock Chip samples of 1.2% -13.5% Copper

2 of the projects are near Olympic Dam


*
High Island*  Oil and Gas, 22.5%, USA
Recently completed drilling, apparently successful and is about to brought on production,

Pre Drill estimates for High Island were 3.2mbls Oil + 38BCF Gas

*
Option Rights Issue*
1:1 Option Rights Issue, 
Ex Date 22nd Feb, I must buy before 21st Feb being Wednesday to be eligible
Record Date 28th Feb, ie must hold until 28th Feb to be eligbile
Options will be 20c options expiring 31/3/09

Example Hold 100k GRL = Get right to buy 100k GRLO @ 1c = $1000

On list If GRL=30c GRLO=10c + premium 

Enjoy!


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## Sean K (20 February 2007)

Was that jump today due to the options YT?

Not much to see on the chart yet.


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## YOUNG_TRADER (20 February 2007)

Probably, unusual to see a 1:1 Issue,

Also those U-grounds in N.T. near Angela and Pamela no doubt add to its spec appeal


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## greggy (21 February 2007)

YOUNG_TRADER said:
			
		

> *GRL*
> *
> Mkt Structure*
> *
> ...



NT uranium ground looks very interesting and the oppies issue looks tasty as well.  Everyone is madly runnig for any explorer with NT uranium ground at present with good reason. Good pick.
DYOR


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## YOUNG_TRADER (21 February 2007)

Unless they revise they're timetable (like PXR lol, unlikely)

GRL goes Ex tomorrow, which means these 10mins pre-open are your last chance to buy the stock to get access to the 1:1 rights

Just thought I'd give everyone a reminder

Cheers


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## hypnotic (21 February 2007)

I am tempted.............

but not many shares on the table to pick up until i get to 35 cents   

Hypnotic


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## chris1983 (21 February 2007)

I like the pick.  I might pcik up some oppies when they come on the market.


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## YOUNG_TRADER (21 February 2007)

Oh dear, sorry about this guys, I only just discovered this while surfing their web page but believe it or not Gawler is backed by Ascent Capital and the Stienpris Borthers (Other notable involments/floats EXT BLR DYL WMT MKY)

Well I'm super bullish now and will wait and see what the Steinepreis bros can do with this one *(BLR 1c - 20c DYL 1c - 40c EXT 1c - 10c MKY 1c - 6c WMT 1c - 15c)*

_
Directors


David Steinepreis - Non-Executive Chairman 

David Steinepreis is a Chartered Accountant and former partner of an international accounting firm where he specialised in strategic corporate advice for listed companies. He has been a director, adviser and major shareholder of various listed companies in the oil and gas, mining and technology sectors. David Steinepreis is a founder and director of Ascent Capital which specialises in the recapitalisation and listing of ASX companies. It has also completed a number of listings on the London AIM market. 




Gary Steinepreis - Non-Executive Director 

Gary Steinepreis is a Chartered Accountant providing corporate, management and accounting advice to a number of companies involved in the resource, technology and leisure industries. Gary Steinepreis is a founder and director of Ascent Capital which specialises in the recapitalisation and listing of ASX companies. It has also completed a number of listings on the London AIM market. _


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## hitmanlam (22 February 2007)

YOUNG_TRADER said:
			
		

> Unless they revise they're timetable (like PXR lol, unlikely)
> 
> GRL goes Ex tomorrow, which means these 10mins pre-open are your last chance to buy the stock to get access to the 1:1 rights
> 
> ...




Hey YT

So does that mean that if i buy it at 10:05am, I don't get access to the options?  Or can i buy it on the 22nd Feb before 4pm close.  

I've never bought on pre-open before.  How do you do it?


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## moses (22 February 2007)

fwiw, entrails of duck attached


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## dubiousinfo (22 February 2007)

It was surprising how hard this tanked after going ex rights today. After closing at 32c yesterday, it opened at only 23c.  With AORD, gold and uranium all up today, I had expected this to hold up better.


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## YOUNG_TRADER (22 February 2007)

dubious, this always happens EX, although I don't know why as technically your meant to hold until the record date and selling Ex sometimes runs the risk of not being there on record date, happened to me with QGC,


So pay little attention to that,

What you should focus on is the location of its N.T. permits/tenements to Angela and Pamela and just how hotly contested those 2 deposits are,

Thats so Steinepreis style, while others fight like dogs over deposits, they peg the grounds near by,

Watch and see


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## YOUNG_TRADER (23 February 2007)

Update re Oil and Gas porject at High Island

High Island Project – Acceleration of Development Plan
Gawler Resources Ltd (ASX: GRL) (Gawler or Company) is pleased to advise that following the successful drilling of the High Island 1 well, located off-shore Texas, the joint venture partners are currently evaluating opportunities to *fast track project development with a view to commencing production before the fourth quarter 2007.*
Previous ASX releases have referred to the construction of new production facilities and drilling of wells two and three before calendar year end, with production forecast to commence in approximately February 2008. Plans currently under consideration would see the acquisition of an existing platform, drilling of the second development well and start of production near the end of the third quarter 2007.
*Initial gas production rate is expected to be in excess of 20 million cubic feet per day from the first two wells.* The third development well would be drilled and if successful, added to production in 2008. Levels of condensate and* oil production are expected to increase to in excess of 1,500 barrels per day * over time from the field.
*As previously advised, the High Island -1 well has confirmed the presence of good quality gas and condensate in high quality reservoir sands in both the shallower zone, top at 6,823 feet Measured Depth (“MD”) and the deeper zone, top at 9,704 feet MD. Reservoir thicknesses are broadly in line with pre–drill expectations.* Both zones correlate with hydrocarbon bearing sands in the six earlier drilled penetrations of these sand units and are consistent with the pre-drill mapping of the 3D seismic data.
*Pre-drill reserve potential based on the 3D and existing drilling data was 3.2 million barrels of oil and 38 billion cubic feet of natural gas, potentially recoverable from three new wells.*


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## dubiousinfo (23 February 2007)

I imagine this will get shareholder approval at the meeting today.



> High Island Project – Acceleration of Development Plan
> Aurora Oil & Gas Limited (ASX: AUT) (Aurora or Company) is pleased to advise that following the successful drilling of the High Island 1 well, located off-shore Texas, the joint venture partners are currently evaluating opportunities to fast track project development with a view to commencing production before the fourth quarter 2007.
> Previous ASX releases have referred to the construction of new production facilities and drilling of wells two and three before calendar year end, with production forecast to commence in approximately February 2008. Plans currently under consideration would see the acquisition of an existing platform, drilling of the second development well and start of production near the end of the third quarter 2007.
> The initial gas production rate is expected to be in excess of 20 million cubic feet per day from the first two wells. The third development well would be drilled and if successful, added to production in 2008. Levels of condensate and oil production are expected to increase to in excess of 1,500 barrels per day over time from the field.
> ...


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## dubiousinfo (23 February 2007)

Copy of Gawler's announcement.



> Gawler Resources Ltd (ASX: GRL) (Gawler or Company) is pleased to advise that following the successful drilling of the High Island 1 well, located off-shore Texas, the joint venture partners are currently evaluating opportunities to fast track project development with a view to commencing production before the fourth quarter 2007.
> Previous ASX releases have referred to the construction of new production facilities and drilling of wells two and three before calendar year end, with production forecast to commence in approximately February 2008. Plans currently under consideration would see the acquisition of an existing platform, drilling of the second development well and start of production near the end of the third quarter 2007.
> Initial gas production rate is expected to be in excess of 20 million cubic feet per day from the first two wells. The third development well would be drilled and if successful, added to production in 2008. Levels of condensate and oil production are expected to increase to in excess of 1,500 barrels per day over time from the field.
> As previously advised, the High Island -1 well has confirmed the presence of good quality gas and condensate in high quality reservoir sands in both the shallower zone, top at 6,823 feet Measured Depth (“MD”) and the deeper zone, top at 9,704 feet MD. Reservoir thicknesses are broadly in line with pre–drill expectations. Both zones correlate with hydrocarbon bearing sands in the six earlier drilled penetrations of these sand units and are consistent with the pre-drill mapping of the 3D seismic data.
> ...


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## YOUNG_TRADER (24 February 2007)

Just thought I'd do an update to include the options into the fully dilluted Mkt Cap, note if they are to be included in the mkt cap then we must also include their exercise value in the cash balance,

Also I think I really underestimated the economic significance of High Island, it really looks the goods, those estimated flow rates are huge when compared with GOG type wells drilled in Cooper Basin

I like it!

*GRL*
*
Mkt Structure*
*
Shares*
50m + 50m 20c 31/3/09 Options
Mkt Cap @ 20c = $20m with $13m cash EV = $7m
Mkt Cap @ 30c = $30m with $13m cash EV = $17m
Mkt Cap @ 40c = $40m with $13m cash EV = $27m
Mkt Cap @ 50c = $50m with $13m cash EV = $37m

*
Cash*
$3m + $10m from opies = *$13m*


*
Projects*
*
Northern Territory* Uranium, 100%, N.T.
2 Exploration Licences near ANGELA and PAMELA Uranium deposits 

Very high SPEC Appeal!

*
South Australia*  Uranium + Copper + Gold, 100%, S.A.
Rock chip samples of 0.4%-0.95% Uranium + Rock Chip samples of 1.2% -13.5% Copper

2 of the projects are near Olympic Dam


*
High Island*  Oil and Gas, 30%, USA
Recently completed drilling, apparently successful and is about to brought on production, 

*Initial gas production rate is expected to be in excess of 20 million cubic feet per day from the first two wells.* The third development well would be drilled and if successful, added to production in 2008. *Levels of condensate and oil production are expected to increase to in excess of 1,500 barrels per day over time from the field.*
Reservoir thicknesses are broadly in line with pre–drill expectations. Pre-drill reserve potential based on the 3D and existing drilling data was 3.2 million barrels of oil and 38 billion cubic feet of natural gas, potentially recoverable from three new wells.


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## YOUNG_TRADER (27 February 2007)

Just realised that if High Island does in fact contain 3.2Mbls of Oil recoverable and GRL has a 30% interest then ignoring the gas (38Bcf) it has a net interest in 1M bl's of oil

@ $20 a bl = $20m just for High Island not including Gas
the gas is probably worth another $20m net to GRL

So High Island could be worth about $40m net to GRL = 50c GRL  ($37m Oil and Gas + $13m cash)

That means the tenements near Angela and Pamela would be free!


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## YOUNG_TRADER (2 March 2007)

High Island 30% acquired!

AUT gave GRL its 30% rights to High Island as an agreement perhaps because they thought it too risky etc something like that, clearly High Island has proved a success, AUT possibly regretting decsion now but hey thats Harry Hindsight, well could have easily been a duster,

_The offer to acquire the interest in High Island has been made to ASX listed Aurora Oil and Gas Limited (ASX: AUT), a company focused on major onshore US oil and gas opportunities. Subject to shareholder approval, completion of this transaction would result in Gawler acquiring the interest in High Island and potential future opportunities in the shallow water of the Texas Gulf Coast identified by Aurora. In return Aurora would become a major shareholder of Gawler with Board representation._

_
Gawler Resources Ltd (Gawler Resources) is pleased to advise that it has completed the share sale agreement with Aurora Oil & Gas Limited (Aurora) and appointed Mr Jonathan Stewart as Chairman and Mr Trevor Benson as a director.

Jonathan Stewart is currently the Executive Chairman of Aurora. Mr Stewart is a qualified chartered accountant.

Trevor Benson has been involved in the financial services industry for over 15 years. Currently he holds the position of *Director, Western Australia for Tolhurst Noall Limited, an Australianstockbroking firm*._

With High Island being a success, it seems someone wants to get on board before mkt realises value, if I didn't know any better I'd say the stock was being capped at 30c, 

Why?

So anyone who was trying to accumualte shares would be able to do so below 30c! ie it encourages alot of smaller shareholders holding 15-50k parcels to sell, those 100k+ orders at 30c don't seem genuine to me,

If they really wanted to sell out they wouldn't just stack up like that on such a thinly traded stock, definite capping to me, 

Of course I could be wrong and it could just be stupid sellers thinking the best chance they have to get out is to just all pile up behind each other at 30c   

So is it capping to accumulate more?

Or

Silly Sellers lining up?

Thoughts?


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## YOUNG_TRADER (22 March 2007)

GRL has gone into a trading halt, pending the release of news "of a significant transaction" 

Whats interesting is that EXR also went into a trading halt, both within 1 minute of each other and both until Monday 26th March,

Do I smell farm ins, JV's ? ? ?


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## YOUNG_TRADER (22 March 2007)

Just had another look, it definitely involves both EXR and GRL, both ann are exactly the same and where released 1 minute apart, what I can' figure out is who will be doing what,

As I've said it could be a farm in, or JV over certain projects,

It may even be a takeover,

EXR would probably be the dominating party though, so GRL the target or reciever? Thoughts ? ? ? ?


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## nioka (22 March 2007)

YOUNG_TRADER said:
			
		

> Just had another look, it definitely involves both EXR and GRL, both ann are exactly the same and where released 1 minute apart, what I can' figure out is who will be doing what,
> 
> As I've said it could be a farm in, or JV over certain projects,
> 
> ...



Is there a relationship with the recent exchange of interests between GRL and AUT. AUT now has an interest in GRL and seats on the board.?


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## YOUNG_TRADER (25 March 2007)

YOUNG_TRADER said:


> Just had another look, it definitely involves both EXR and GRL, both ann are exactly the same and where released 1 minute apart, what I can' figure out is who will be doing what,
> 
> As I've said it could be a farm in, or JV over certain projects,
> 
> ...




Merging with EXR,

Will create a very interesting Oil and Gas play to be honest,

GRL's HighIsland will provide the cash flow while 
EXR's UK prospects will provided the 10 Bagger leverage,

But now those U licences in the N.T. near Angela and Pamela as well as the other Mineral licences seem like a mis-fit, perhaps a spin-off into a new entity?


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## mmmmining (25 March 2007)

YOUNG_TRADER said:


> Merging with EXR,
> 
> Will create a very interesting Oil and Gas play to be honest,
> 
> ...




Holly molly, this is a truly  "1+1=11"  if they have a uranium spin-off. Unfortunately, I own neither of them.


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