ggp comparison to 12 oilers, page-20

Oldprospector your post contained lot of home truths which I suspect some would not wish to be reminded of ,


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

Then you asked,

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

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

Do we need Novus investment to save the day?
DEFINITELY NO TO MORE OF THEIR NOTE ISSUES

Do we need to sell a twenty dollar note for a tenner in order to raise cash?
For share holders to retain their investment,
DEFINITELY NO

Will GGP fall into the hands of the dark side that only represents 5% of the investors if the IG succeeds?
The EGM vote will determine the % and it will
DEFINITELY BE MORE THAN 5%

Also I see the dark side as the current setup to keep
issuing more convertible notes