GLL

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1.4¢ galilee energy limited

Ann: Galilee Energy Announces $13 Million Private Placement, page-47

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Glitterati

10,395 Posts.

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07/12/18

20:55

Post #: 36790057
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Originally posted by Glitterati: ↑

I can understand everybody's concern over the slide in the SP. With everything seemingly going so well with the pilot, I'm shocked that we're at 51.5c now, I really am.

I've tried looking at this from different angles and have decided to stick with the company.

My observations are as follows:-

- seems to be weak retail hands selling the stock down for no apparent reason

- volume today was below average so when we have a drop with below average volume, it's not as concerning

- still not getting any notifications about any of the heavy hitters bailing (that would cause me to lose sleep)

- BOD has just completed a CR for a premium SP of 60c with options to go with it at 75c strike price - this reeks of confidence from the buyers' perspective as well as the sellers' (GLL'S) perspective.

- The ann around the CR stated that 'Funding received, despite challenging market and industry conditions, to secure a rig andaccelerate exploration programme'. This tells me that the focus on Glenaras is lessening with the company looking to move on to the next stage in the not too distant future.

- a concern recently aired on this forum has been that excessive water is stifling gas production, we recently had the AGM where Lansom stated:-
'Seeing large drawdown, direct communicationbetween each of the lateral wells is evidence ofanticipated reservoir shielding'.
'Material drop in water rates from peaks of over 4000BWPD'.

I look at all of this and think tick, tick, tick, tick with the only negative being the SP heading south. As I said, I understand holders worrying but I don't see any reason to panic and will be staying put. If anybody is aware of any possible reason for the selldown, I'm sure we'd all appreciate if you could let us know. Is there a leaky boat that knows more than we do????

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The other thing to bear in mind is the fact that we only have just over 200M shares on issue so fluctuations in the SP both upwards and downwards tend to be exaggerated - it was fantastic when we were in an uptrend but not so good when trending down.

In comparison, you see that companies with 1 billion plus shares on issue on average usually move a few pips in a day if you're lucky.

GLL Price at posting: 51.5¢ Sentiment: Buy Disclosure: Held
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(20min delay)
Last 1.4¢		Change 0.000(0.00%)		Mkt cap ! $7.800M

Open	High	Low	Value	Volume
1.4¢	1.4¢	1.4¢	$84	6K

Buyers (Bids)

No.	Vol.	Price($)
1	200000	1.4¢

Sellers (Offers)

Price($)	Vol.	No.
1.5¢	150000	1

View Market Depth

No.	Vol.	Price($)
1	200000	0.014
3	319731	0.013
3	633250	0.012
2	1200000	0.011
3	1500000	0.010

Price($)	Vol.	No.
0.015	150000	1
0.018	71428	1
0.019	1010789	1
0.021	480000	1
0.022	76900	1

Last trade - 12.21pm 01/11/2024 (20 minute delay)

GLL (ASX) Chart

Ann: Galilee Energy Announces $13 Million Private Placement, page-47

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Ann: Galilee Energy Announces $13 Million Private Placement, page-47

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