GGP - Golden Gate Petroleum

[YOUNG_TRADER]

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

 

[Sham]

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.

 

[Dums]

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

 

[Sean K]

Trading Halt

 

[Bullion]

Fingers crossed!

 

[Sham]

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

Sham

 

[YOUNG_TRADER]

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

 

[Sean K]

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

Good work YT.

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

cheers!

(ps, hope it IS good news!)

 

[Sean K]

Good work YT.

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

cheers!

(ps, hope it IS good news!)

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

 

[Sham]

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

 

[the corsican]

Anything on the aussie internet explaining the suspension

 

[YOUNG_TRADER]

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

Hey Dums,

Any update re Pantheon Resources?

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

Thanks

 

[Dums]

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

 

[Alien]

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???

 

[Bullion]

Just out...

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

 

[Alien]

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....

 

[Out Too Soon]

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

 

[Bullion]

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

 

[YOUNG_TRADER]

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)

 

[YOUNG_TRADER]

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?