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Some good points Darkness.... My take is I believe Philippines...

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Bluey66

1,450 Posts.

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14/03/17

19:41

Post #: 23343240
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Originally posted by darkness922 ↑

As said before only wishing to show my opinion and in no way wish to give advice, DYOR

Interesting question emusan, ( what would my idea for a buy out be? )

Stay with me this may get a little long winded.

My answers have many angles and what may even be seen as what should have happened or could still happen.

I have looked into a few explorer companies and have learned a little of how they failed and how they managed to succeed. I haven't been lucky to be part of a success story yet!!!

GGX have managed to get us all this far but have missed a fundamental criteria in my opinion,

MARKETING, We haven't had the funds to complete the works and the funds for a marketing team.

It's a catch 22 though because with a great marketing team, as expensive as marketing can be for a small company it's critical because that should have found more funds and that would have built more faith for share holders and more importantly to find the help nesessary in time to save the projects within licence expiry dates.

Shareholders: we are our worst enemy because it is our hard earned cash and without a marketing team to maintain our faith in the projects we undervalue our investment and sell out for greener pastures, therefore withought share holder support management are forced to fight an up hill battle with pitching to potential investors, banks for loans, and even worse governments who when management try to extend contracts with them in our case only see a market cap of 3mill.

Large investors are very important because without them share price falls well below value and other like minded companies instead of seeing value in a joint venture think that waiting it out may mean they can get in cheaper or at our detriment instead of us.

It would seem we are currently fighting 2 legal battles at once any buyout in my opinion wouldn't happen unless management win one or both contracts.

I'm not 100% on how this part works is our Philippines contract separate to our Licence 44 in the Philippines? but I would think Licence 44 in the Philippines is our most valuable asset. So if we win that case to extend if GGX were to decide to sell it, that's the big bucks. How much is 1billion dollars worth of oil worth?!!!

I would think if there is interest in GGX from outside we would be needing and may be getting help already to continue in court.

Management would be looking at all of this years ago and weighing up the pros and cons but mainly to get out what they have put in at least and then some more , and if that's the case we are all in safe hands.

It's too late for news, news would only raise the share value and not enabling the plans which would well and truely be in motion.

we have all let the company value fall too low to help management and now so late in the piece any help from outside wouldn't feel comfortable getting in any higher than we have been for sooo long.

I would be thinking in this case if all management are too tired to finish this race I hope not. But if they are they will fight for themselves and all of US to return the share price back to a medium level of at least 6c

Long term holders most likely have averaged down by now and would still thank them for that. And then it would be upto individuals to continue with the vision started.

Thanks for hanging in there.

Buckle up and wait to be put out of our miseries or to be mildly satisfied or extremely rich.

Good luck to ALL

Expand

Some good points Darkness....
My take is I believe Philippines will extend SC44....
We have to consider if they cancelled SC44 on GGX, then they would want someone else to come in and drill, as long term Malalos is worth a pretty penny to the Cebu economy, so why kick someone out, and have to start all the process again with another company....
I'm sure they would put some pretty hard and fast guidelines around GGX to continue, but I believe we will have one more shot at this...... I think Dennis and the team are that far into this financially, they will fight as hard as they can to extend the contract.

I could be wrong and have no hard facts, but for all the long termers, I truly hope we get a green light....

The only issue left if we get the green light is cash, cash cash !.... I'd even vote for a dilution with some sophs, just to get the bloody thing going........

All only IMO of course....

GGX Price at posting: 0.3¢ Sentiment: Hold Disclosure: Held
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