I think all companies, especially juniors and oil industry have their share of issues. You only have to look at BCC who also had a 249D (which was actually successful), SSN, NDO, etc. All have disappointed in some way. And look at there respective market caps. I dont know if GGP is "cheap" but it is certainly one of the lowest market caps.
Some of the criticism of GGP is 100% warranted, but most of it, if not all of it is accounted for in the low market cap. Has the market over compensated? I dont honestly know. Sentiment is very low, but so is production.
It's a balancing act and the balance is roughly right imo.
To tip the scales the other way we need higher production, which might terminate Lind or scale back the drawdowns.
I only hold a few. Personally I'd rather pay more for a stock with a few less challenges, or more for GGP when it starts turning around. Right now it is in limbo and could go either way.
But Acreage post shows the potential of the leases and we will only lose at most 28% to Page/ORI. So their is some certainty in the ground and spending money isn't a dead cause. We just need to start hitting the averages then start exceeding them. Not sure if management are up to it. We will soon know.
Management need to announce things like discovered a couple days back. And we all know leases were due to expire on June 30. Yet no update. Communication is king.
GGP Price at posting:
5.0¢ Sentiment: Hold Disclosure: Held
