This post is just my opinion and why I am determined to hold onto every GGP share I have.
Firstly I now see no future or have I any hope that the oppies will move at all. I have up until now, thought the oppies would still appreciate prior to the August deadline. I never thought that they would be in the money but I did have very high hopes of them climbing so that holders may be able to retrieve some of their hard earned.I have lost over $10,000 with the oppies but, that's life in this game.
GGP is by far my biggest ever holding and I have never placed more money into any other company in my 25 years in this game. By no means am I a big player in the market, I'm just an avge joe blow who has the dream of one day cracking the big one.
I don't take my investment lightly in this company and for that reason I do spend countless hours on this screen digging up anything of use to my investment.
Some may say I am gambling, investing in a coy with such a small MC and very little income. While that sort of statement rings every so often in my head,I have great faith and trust in my ability to research and great trust in what I know about this company.
We all have to take our CEO's statements/releases and plans in good faith otherwise, why bother ? So I do, and I also have great faith in his ability to make those plans come to fruition, he has a great track record ( Orchard ) and i don't see my investment in GGP alone but, I see my investment in the Permian Basin ! This is what excites me because, it has a wonderful history of production and a strike rate which is second to none ( as far as I am aware )
I and many others have stated this before but, I think it's worth remembering. We have other oilers and business related entities wanting in on our PB project. SG has his plan and he wants to take it a certain way.Remaining operator is I believe one of the most important agendas in all of these talks.
Selling out at this stage is just not an option for me. Our land holdings are just to good to ignore and others in the business know it.This company has a very bright future,and I will be going along for the ride.There are some who say this is currently falling apart at the seams, it's doomed to fail,smart money selling out today etc etc.
I strongly disagree ! We have, a new land acquisition, a new EF partnership, a JV involving a cashed up company which will be involved in our first 3,4,5, or 6 horizontals, 4 producing verticals ( supposedly at very good productive rates ? ) Our current BOE is trending upwards and projected to continue north as our well numbers climb,We have 100% holding in the PB at this stage as operator, new intervals such as the Cline which warrant their own horizontal Programme, 4 other prospects in which we hold operator status and we will shortly know what our company is valued at with a new independent company valuation report.
Is SG this bad that all this will fall apart ? No way and I refuse to give any credence to these posts that tell me otherwise. The oil is there and from early reports its there In abundance. We will know soon enough who is right and who is wrong.
( 3 hrs later )
Tangocharlie I agree with your thoughts on CEO's making calls and not being able to deliver. TB from SSN is a classic in my mind, nothing beats his SP call that i can recall ? I think some CEO's need lessons on presentation content and learn how to under promise and over deliver. I am prepared at this stage however to give SG's the benefit of the doubt regarding his call on The 1,000 bopd and no further Capital raisings.
Even back back in January this year SG should have taken into account the state of the world economy and the volatility in the POO. January was bang in the middle of drilling our first two wells and is when we began to learn just what our land holds with respect to the flows of oil, surface oil presentations and higher initial rates.
Apologies if my post is a little scattered but I started it just on the closing bell today and work has been busy so hopefully it's not to messy.
So in closing, my eyes are on our assets value and, I am very positive we will turn this company around in very soon.
Got to run, another job.
Ciao
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