GGP - Golden Gate Petroleum

[Bush Trader]

Hi All

My understanding of the placement is that it was for institutional investors as well as for E-trade customers, does this give any existing shareholders an opportunity in relation to their existing holdings?

I have seen this type of activity before in order for an institution to justify their investment in a placement they then tend to ramp the stock by taking out small volume sellers, the next thing you no sell offers are pulled and the stock price jumps, any thoughts? However I missed the acion today as I was in the paddock, is this how it panned out Gurgler?


Cheers


BT

 

[Gurgler]

BT

Interesting theory - not sure if it's borne out by today's 5-minute chart. Seems from the volume bar, that activity was scattered through the day but most of the volume was attached to the afternoon. The first hour is made up of small parcels, but the price jumps occured just before 2pm and the close (look at the volatility indicators).

However, I'm a chart novice so can't really interpret - just conjecture!

Good luck, yourself!

 

[Bush Trader]

Gurgler

Market Depth Action would tell the true story I think, however thanks for the chart. I Note Volume Jumps prior to 28c & then 29c rises.

Cheers

 

[Bush Trader]

Firm again today!

Mabey the market was expecting more Capital raising than actually occured?

Cheers


BT

 

[Gurgler]

This is what we like to see. A sustained bout of volume plus upwards movement for once. All the pointers (recent acquisitions/ongoing exploration underway) are for this to progress positively. Let's hope it continues on its merry way.

 

[Gurgler]

Somethings on here - three 100k orders in the past hour moving the SP up 17%.

Anyone heard anything? They must have some more Padre Island results due soon.

 

[Gurgler]

It's been quite a month so not surprising to see the SP move through into the 40's for the first time in yonks. Firstly two projects heading into production (Wilson/Kindee and Dunn Deep) and then the acquisition of oil and gas prospects in Iberville and Ascension Parish, Louisiana.
But now the Park Avenue (NY) boys have come to the party!

Today's ann relates to Eastern Advisors Offshore Fund coming onboard, tripling their holding to 27.75 mill shares. Does this mean anything - or just a group of US retirees investing in US oil? Anyone know anything about them?

Ann's in September: 21/09/2007 Becoming a substantial holder
19/09/2007 Dunn Deep 2 Flows at 3.8 mmcfd
17/09/2007 New Project Acquisition and Spudding Commenced
12/09/2007 Wilson Production Commenced at 2.5mmcfd
7/09/2007 Dunn Deep Drilling Success
6/09/2007 Wilson Tie In Completed

Good luck to those still holding.

 

[pan]

Hello, been looking at this stock recently as it fell back into the 20 cent area where it hasn't been for quite some time.

I was also reading through some broker reports on their website by strachan.
http://www.ggpl.com.au/documents/StrachanCorpGGPReport29July2007.pdf

It may be 6 months old but they are giving recommendations of $1.20, given this was 6 months ago and the oil prices were not as high as they are at the moment you would think that any oil that is hit in their new wells bullseye, west texas and willcox could be worth a bit depending on the amount?
This could could be one to watch in the coming months are their new ventures come on board.


cheers pan

 

[Trader Paul]

Hello, been looking at this stock recently as it fell back into the 20 cent area where it hasn't been for quite some time.

I was also reading through some broker reports on their website by strachan.
http://www.ggpl.com.au/documents/StrachanCorpGGPReport29July2007.pdf

It may be 6 months old but they are giving recommendations of $1.20, given this was 6 months ago and the oil prices were not as high as they are at the moment you would think that any oil that is hit in their new wells bullseye, west texas and willcox could be worth a bit depending on the amount?
This could could be one to watch in the coming months are their new ventures come on board.


cheers pan

Hi pan,

GGP ... using some simple Gann analysis, the GGP chart below, shows
the current price sitting on the 50% retracement level, down from
27042006 high .....

..... with a significant and positive cycle due to come into play
this week, around 17-18012008, we will be alert for a rally off
this critical Gann retracement level.

have a great day

paul

P.S. ... other stocks, that use the same time cycles as GGP are:

PPP - GPG - GGY



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[pan]

thanks again paul,

we just have to wait now but with current oil prices and looking at that analysis report it could be a good month.

cheers

 

[pan]

Ann.

1) Appointment of Managing Director

2) New well spudded- ST991 No1 Well Spudded on Manzano Structure (350 BCF)

3) Golden Gate’s production increased substantially over past six months
51 per cent.

News starting to happen.

Anyone got any info on the new director?
Mr Stephen Graves? All i know is he has worked for Mobil.

cheers

 

[Spec-Invest]

Hey all,
i have been a long time follower of GGP, recently over the past few weeks we have seen a fall in it's share price, currently residing at .24c, hopefully with the completion on the menzano shellow well we will see the share price rise, hopefully if GGP does continue to drill deeper into the high risk zones the share price will rise even more, although it is a high risk. remember what happened to Plum Deep. although the company has came along way since then and the risk is definitely alot lower.

it definitely has been a roller coaster ride for the long term investors but hopefully we will see enhanced results shorty.

 

[Trader Paul]

Hi folks,

GGP ... conflicting time cycles right now, as Friday saw a positive
cycle lift this one, marginally ..... but, expecting 2 negative cycles
to come into play on Monday - 18012008:

22-26022008 ... positive cycle to lift GGP off lows.

11-13032008 ... negative news expected here - finances ???

18032008 ... minor and positive light on GGP

There's also an underlying negative cycle in effect, from now until 27032008,
which may keep prices flat, even with positive announcements.

01042008 ... minor and positive news expected

04042008 ... minor and positive cycle ... finances???

16-17042008 ... 2 minor cycles and news expected here

have a great weekend

paul

P.S. ... other stocks, that use the same time cycles as GGP are:

PPP - GPG - GGY



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[pan]

You might be right paul its starting to come off a bit hopefully I can get in at 20 cents can you work out how low its going?

 

[Trader Paul]

Posted 16022008:

Hi folks,

GGP ... conflicting time cycles right now, as Friday saw a positive
cycle lift this one, marginally ..... but, expecting 2 negative cycles
to come into play on Monday - 18012008:

22-26022008 ... positive cycle to lift GGP off lows.

11-13032008 ... negative news expected here - finances ???

18032008 ... minor and positive light on GGP

There's also an underlying negative cycle in effect, from now until 27032008,
which may keep prices flat, even with positive announcements.

01042008 ... minor and positive news expected

04042008 ... minor and positive cycle ... finances???

16-17042008 ... 2 minor cycles and news expected here

have a great weekend

paul

P.S. ... other stocks, that use the same time cycles as GGP are:

PPP - GPG - GGY


=====

Hi folks,

GGP ... not much volume as yet, but news comes in, right on time !~!

have a great weekend

paul



=====

 

[pan]

There has been some nice annoucements lately, especially for the modena side. Paul haven't heard from you for a while, you got an astro update its coming to the end of you predictions? cheers

 

[pan]

Strachan report posted on the website

interesting read

values how much each well is worth to the company

http://www.ggpl.com.au/documents/GGPStrachanFinalMay08.pdf

pan

 

[pan]

I have recently done some PE ratios for GGP

Seems relatively undervalued for a producing junior at these oil prices,

It would be good if people could correct me if i am wrong.

Monthly net revenue to GGP (after royalty and costs) is
estimated at over A$900,000*12 10800000/242384160 shares

=.044

.28/0.044 = 6.28


current PE of 6.28, and price of 28c and EPS of .044

So PE = price / earnings.
Therefore Price = PE * earnings
So a sector average of PE 20 gives:
Price = 20 * .044
Price = 88c

20(sector PE)/6.28 (stock PE) = 3.2 approx, so 3 times current price.

Thoughts?

cheers

 

[strayda11]

Thoughts..

Look up what a PE ratio is?

earnings not revenue...

Do think GGP is undervalued but on its exploration prospects... not on its current earnings.

 

[Spec-Invest]

ggp's going through a down at the moment, the end of the financial year is also not helping, hopefully we will get some good news in the next few weeks which is needed