disappearing supply, page-13

Johnnyd,
Before the company announced its 10 well programme in Nov it was in a position where it could not fund the company without a farm in or JV, share dilution or debt. You point this out in your last post.
I believe the companies postion is still the same at present as it has been with the company for a number of years. Ii don't see any change in its needs from that point or created by its 10 well programme.
. Even companies with a market cap in the billiions are dliuting their shareholders or raising debt to accelerate their programmes within the PB because they see value in doing so.
Small spec companies like GGP have few options to become self funding and suspending the drilling program and working on a JV i believe is in the best interests of shareholders because it can provide the company some of its needs without diluting shareholders. This has been overlooking in the current HC conversation.
I feel for the option holders but for those who brought them on market and weren't gifted them via a CR then they should have realised even 2 years ago it was going to need the company to at least double its market cap to get close to getting the options in the money. In this situation the heads are always a better place to be in my experience.

Even with yours and others thoughts that the company does not have a producing well i believe the company will show it has doubled its income in the june qtr when compared to the march qtr. Not a bad effort when the drilling program has been suspended and oil has fullen in price by 20%.
hope i am not proven wrong with this when the quarter report comes out in just over a week as its this reason why i am buying at present. By my calculation the june qtr will show income of $1 mill and the sept qtr $4mill.
So the company could be self funding by the sept qtr if it wanted to crawl along until it was taken over.
I am happy to see a more aggressive plan which may include debt or share dilution because i believe in the long run i will benefit more by this strategy than a quick takeover now. The company is siting on land that is worth more than its marketcap

I have my own theory as to why the announcements are slow. The company does not want the share dilution the options would provide and has better options for the company. Only time will tell but it has to provide a qtr report and its partners in EF, Bowtie and Dugas will ensure GGP matches any announcement on these projects.

For those who believe the company has been stagnant or going backwards all i can suggest is read the 2011 annual report and then the 2012 annual report when it comes out. That is the best way to compare the companies income and its growth at the same time. The market prays on shareholders that are driven by an individual announcement or the lack of one.

I still believe that at 1.2c GGP is one of the most promising stocks on the ASX if not THE most promising. Its tiring to read posts that the company does not have one well on production when the company and other posters have provided the evidence that it does and in the case of Dugas 3 has been producing since 19 july 2011, one year ago.