Katoom,I have been a GGP SH for a few years. A year back, GGP...

Katoom,

I have been a GGP SH for a few years. A year back, GGP looked still looked like a very promising investment. A large lease hold over the Permian Basin had been secured and the drilling program has started. The options, convertible at 8c, still had another 8month to convert. If the options would have been converted in August 2012, we would have raised enough equity to fund another 7-8 hori-wells.

Back to December 2011:
The primary task for the management was to secure adequate funding for the drilling program. The two Frank’s primary task was NOT to advise Halliburton how to drill and fracture an oilfield in the Reagan Country but to secure enough funding until the production of our first wells becomes cash flow positive.

The funding demand for the drilling programme was foreseeable and was certainly not hampered by and unforeseeable disaster, like a blow-out, collapse of oil price etc….

Have the two F’s succeeded or failed their primary task???

So, where are we now?

Without cash its lights out, shop closed (and my investment lost)!

This is not about reshuffling the deck chairs. This EGM is about providing speedy future funding for the company.

Do we need two more directors with undoubtedly impressive experience in the O&G industry?

Do we need two more directors with experience in the finance industry?

Do we need Novus investment to save the day?

Do we need to sell a twenty dollar note for a tenner in order to raise cash?

Will GGP fall into the hands of the dark side that only represents 5% of the investors if the IG succeeds?

I don’t know about you but I do not need a second proxy form to change my vote. I have made up my mind on the 30th August 2012. The only difference between August and December 2012 is my voting right. This right will be exercised on December 19th.

BOL : OP