GGP - Golden Gate Petroleum
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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)
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)
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.
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.
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Gentlemen
A great day, volume over 700,000 and strong close @ 28c. Solid buy supports forming at 27c
Happy Days
A great day, volume over 700,000 and strong close @ 28c. Solid buy supports forming at 27c
Happy Days
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Any Updates?
Out Too Soon
My real name is King Julian ;)
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"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?
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?
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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.
Wilson well (the second one of this group) has started and results will be due lateMarch/early April. Lets wait til then.
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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
My real name is King Julian ;)
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Hope it's worth the wait, sp starting to drift down again with no news.Gurgler said:
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.
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Does the 8.9% 'surge' in sp to 0.245 have anything to do with Michael Bell's departure?
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Some surge, $12k purchase is the cause of the 8% increase. A surge may be an over statement.
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That's why I used parenthesis! I guess we will have to wait on results for a more meaningful rise.
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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.
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Hey, finished on 26c. (go BushTrader in the Tipping comp.)
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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
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
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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?
Did someone hear a rumour to buy at 30?
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Gurgler said:
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
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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.
Obviously i am not a gas man.
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TheAbyss said:
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
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BT, The GGP Val document is blank. Thanks for your interpretation on tpodays announcement also. Looking good.
