GGP - Golden Gate Petroleum

[alexc2005]

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]

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]

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]

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]

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]

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]

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]

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

 

[rivi]

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]

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.......

 

[TMC93]

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?

 

[Vader]

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'.

 

[TMC93]

Serves me right for speed reading

 

[berbouy]

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?

 

[Assasin]

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.

 

[berbouy]

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.

 

[EddieRobinson]

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

 

[Assasin]

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.

 

[berbouy]

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

 

[toptips]

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?