new ann out, page-42

"Possibly prematurely, Graves now says that the days of raising capital are at an end, forecasting that in the next nine months Golden Gate (ASX code GGP) will produce close to 1000 barrels of oil a day." January, 2012.

Read more: http://www.smh.com.au/business/under-the-radar/golden-gates-permian-promise-20120130-1qop2.html#ixzz1xomE0rhi

I can't help but feel let down by the company, following this announcement. The May 'deadline' was always going to be tough to meet, but now this? What can us holders do but buy up? We (me) are already in the red.. we are already backed up against the wall..

The poorly structured announcements should have set bells ringing, for me. "A further announcement concerning a POTENTIAL capital raising." Must they be so ambiguous? Could this be a message to potential JV partners, sitting on the fence, that we will go it alone if we have to - with complete disregard for our shareholders? Unlikely.. or is it?

My rant, my opinion. It is out of my control so I cannot get wound up about it.