management won't listen, page-57

Hi GGP holders,

Only bought in yesterday, held off somewhat because of the state of the markets and CR talk but been watching on with great interest.

Re Cap raising; I notice they currently have a couple of facilities already open to them.

AUD $15M 3 Year Funding Agreement

I haven't been able to go through all the announcements but could any of the longer term holders tell me if this has been drawn upon yet? Looks to me as though it hasn't as yet.

Dilution is always a tricky issue, if this oil discovery and the potential of this play is as good as mgmt are touting then it should still be value adding to the SP regardless of the amount of shares on issue. Dilution becomes a big issue when the fundamentals fall apart, SP's can really suffer then and can have trouble recovering in such instances, not the case for GGP as things stand currently. Issue of dilution seems to bring up a few arguments which I won't be drawn into lol

I notice too there is a converible note facility where there are still 18.2m notes outstanding, with face value on 0.05 and current SP of .02 then conversion could see a further 50m odd shares issue if they decide to convert now. Luckily not a big facility as I have seen bigger issues really damage the register of some coys. Always in the issuers interests to keep the SP low in such cases as they end up with a bigger slice of the company but not really applicable in GGP's case as only 18.2m notes left outstanding from the original 30m issued.

It's early days too since the flow rates for the 1st well were ann yesterday, on a down day buyers can be content just to let sellers do their thing and can accumulate without driving the SP higher, so we could still get a better response to the ann this Monday than yesterday (Friday).

If this oil find and seemingly above average flow rates for this play are as good as mgmt think the there is always the possibility that mgmt could issue a CR at a premium, probably too early to say but that would be nice for holders, probably a bit of wishful thinking on my part lol.

Anyway, I agree with many others that the potential is there with this one, 2nd well looking better than the 1st and lots more drills to come, could be a nice creeper.

Good luck all and thanks in advance to any response to my earlier question.

Cheers