GOP - Gippsland Offshore Petroleum

[yogi-in-oz]

Hi folks,

GOP ... cashed up and still exploring ... will be alert for some positive
news/moves, over the next few weeks, as at least 5 significant and
positive time cycles come into play:

30042007 ... may start the rally here ... ???

04-07052007 ... alert for positive news here ... may be some news
about new hi-tech stuff being used ... ???

08052007 ... positive spotlight on GOP ...

16052007 ... minor and positive (intraday) move expected here.

21052007 ... minor news ???

24052007 ... minor and positive ... finance-related ... ???

08062007 ... 2 minor cycles here ... could still bring positive news ???

25062007 ... significant and negative cycle ... finances-related ... ???

10072007 ... 2 minor, but positive time cycles here

19-20072007 ... aggressive rally expected here ...

27-30072007 ... minor and positive news expected here.

10-13082007 ... negative spotlight on GOP

happy days

paul

P.S. ... GOP and GOG time cycles are identical.

 

[Sean K]

There was some news out today about this that has sent it up to be looking like a potential breakout of sorts through 25 cents. Good volume.

 

[nizar]

There was some news out today about this that has sent it up to be looking like a potential breakout of sorts through 25 cents. Good volume.

Yeh a good entry here wouldve been 28c and again after the big volume up day at 35c.

It seems to be forming some sort of triangle pattern on the daily chart.

I may pick up a few 2mrw, looks the goods to me. I think either 2mrw or monday its gonna go big time.

 

[Wysiwyg]

Well things are starting to become more enticing for GOP with their full control of JV partner Finder exploration.This control amounts to 100% ownership of the Jamaican assets (of which seismic is presently being interpreted) and Permit AC/P36 (released as AC/04-3) in the Northern Browse Basin in North West Australia.

Dilution to be now 209,982,380 ordinary shares.

Have to remember that lead times on these juniors can be quite long but if one looks ahead beyond a day or a world economic recession or bear market then some of these go-getters are worth a watch i.m.o.(well that`s what I do anyway)

Please research own your do.
http://www.gop.com.au/home

Let`s not forget the environmental impact either.

Lobby group echoes Browse Basin gas concerns
A new lobby group has backed concerns about the impact of gas development from the Browse Basin on the lucrative tourism industry.

The Kimberley Marine Tourism Association this week raised concerns that gas plants being planned by two major companies could destroy the Kimberley's image as an untouched wilderness.

The new group, Cultural Heritage and Environmental Advocacy for the Kimberley (CHEAK), claims to have raised $2 million and secured several celebrities to launch an advertising campaign next year.

CHEAK president Peter Tucker says any development should be made south of Broome owing to the fact the Pilbara is already industrialised.

"The Pilbara has already been developed ... we have the town of Port Hedland, we have the town of Karratha," he said.

"The Pilbara is now renowned as an industrial coastline, certainly in that northern part of the Pilbara. We don't see why it wouldn't be a problem to bring in another industrial area into the Pilbara coastline in order to preserve the Kimberley coast for ... eternity."

 

[Wysiwyg]

Since it is nearing completion of due diligence and the farming out of the Jamaican blocks I decided to do some research on Jamaican oil.
The following is an extract from the Jamaica Observer in which both optimism and pessimism are expressed.Finder is now GOP by name. (also note the p.s.a. is high and probably set depending on e/p costs) ....

The Australian exploration company, Finder Exploration, was granted a licence to conduct exploration activities on four blocks offshore southern Jamaica. The first phase of exploration activity entailed the acquisition of seismic geophysical data, which has been collected on behalf of Fugro, one of the world's largest seismic contractors.

Speaking with Caribbean Business Report from the Ministry of Industry, Technology, Energy and Commerce's Kingston headquarters, Paulwell said: "Finder's exploration efforts have now put them in a position where they are now looking to start drilling because based on the seismic work they have done, they are predicting billions of barrels of oil. We will now see drilling begin some time later this year and a Chinese company is now seeking to get a drilling licence."

Paulwell added that this shows that the prospectivity is quite good and that there is international interest in Jamaica' hydrocarbons. The structures are indicating that there is more gas than oil and that they can accommodate huge volumes.

Exploration activities in Jamaica are conducted under a Production Sharing Agreement whereby the licensee pays a 12 1/2 per cent royalty to the government, either in cash or kind. And splits the oil and gas produced with the Petroleum Corporation of Jamaica (PCJ) (sharing scale ranging from 30 to 60 per cent in favour of the PCJ). The split would be based on the volume of oil and gas produced as well as the depth of water in which production takes place.

and some pessimism/realism from Dr. Raymond Wright,senior consultant and former boss of the Petroleum Corporation of Jamaica (PCJ)...

However, Dr Raymond Wright remains cautious about the prospects of striking "black gold" and is of the view that Jamaica will not produce big oil fields given its geological position. However, he believes that Jamaica may hit on commercially viable deposits.

Soooo , it might be that Browse Basin is the back up plan should the Walton Basin fizz.Though there is , Madagascar, France, Kenya, the UK and New Zealand interests as well.
Don`t you just love these high risk frontier ventures. lol It`s never over until the drill bit sings (or stings) they say.

Anyway 80 million shares @31c are being added to the registry for the Finder acquisition (news soon) with the company aiming to complete the farm-out process by October.

Finally what Cath Norman has to say ..

“The combination of Gippsland Offshore and Finder will consolidate the emergence of our company as one of the new breed of exciting and fast growing oil and gas companies listed on the ASX”, Ms Norman said.

What do you think?

 

[rhyslivs]

GOP has taken quite a hiding in the last couple of days, they haven't made any negative announcements.

Anyone have any thoughts on their sudden downturn?

 

[Kelpie]

Any thoughts on when the SP might bottom ......or will it continue on its downward spiral forever????????