pre open, page-94

Evening all,

Had a detailed post of pb anouncements go into cyberspace yesterday morning to error land, so here it is in point form from memory and in a hurry.

1/ GGP has put out 18 price senstive announcements on the PB since spudding the 1st well in early October.
2/ The average timeframe on PB from 1st announcement until the last announcement is one announcement every 4.5 days.
3/ The last PB announcement was 28th Decemeber.
4/ Its been 21 days since the last announcement
5/ The SPP record date will be advised within the next two days according to the last company announcement involving the SPP
6/ The FIRST TWO PB wells should be producing oil. The market has been advised of this.
7/ An extraordinary meeting to approve funds vital to the company will be held in 12 days
8/ The companies quarterly report due within 13 days will show a dramtic historical increase in expenses and little increase in income but provide commentary on the PB
9/ The PB ACERAGE IS HOT PROPERTY.
10/ GGP has a valuation which is less than a third of the value of the acerage it holds
11/ Current valuation of the company is equvilent to 1 million barrels of oil in gross terms. Roughly equivalent to the first 4 wells drilled.
12/ A buy order of 20 million shares is equal to approximately one percent of the company
13/ GGP has no subtancial shareholders (over 5% ) and changed iTS takeover provisions in December
14/ A duster has only a 5 hour impact in this company during a CR
15/ An uptrend of the SP has been in place for the last 3 months
16/ GGP is out performing 99% of asx companies comparing SP increase over the last 6 months.
17/ Price sensitive announcements can have a dramatic effect on a SP
18/ The lack of an expected announcemnt creates uncertainty
19 / Shareholders generally dislike uncertainty.
20/ GGP has decoupled from normal shareprice pattens during CR and negative news.

Predictions.
Once the record date for the SPP is released and the extraordinary meeting approaches, supportive price sensitive announcements are likely to appear on a regular basis.

Nothing new but sometimes reading all the info in point form can sharpen the focus and decision making.

Hold on all. The SP hit 1.9c approx 18 dec. Its now 2.6c
My points may be light weight but after waiting and speculating on why no announcement and feeling no news is bad news I am buying more. Serious buyers at 2.4 appear to be serious when the World bank is warning of GFC 2.