GGP - Golden Gate Petroleum

[shy]

This is my first post to the forum. I have joined the forum about two months ago and decided it is time to start contributing.

After reading the MGX thread I understand that it is important to actually own a share when posting to its thread so this is my story with GGP.
I put GGP in my watchlist on 7/11/2005 when it was 17 cps I bought when it was 24 cps, sold at 35 cps and bought again at 36 cps.

They got a speeding tick but hey they do have a long list of price sensitive announcements. Any idea how far it will go?

[yogi-in-oz]

Hi Shy,

Welcome aboard.

GGP ..... has been kind to us in the past and from this
end, it should remain positive for January 06, with two
key dates:

18012006 ..... spotlight on GGP

20-23012006 ..... minor and positive news???

Technically, it would be good to test support at the
gap, around 32 cents, as well.

Looking ahead ..... looks like some choppy water coming
around 07 February 2006 .....

happy days

yogi

[SevenFX]

Hey Shy,

Are you still playing with GGP.... as what are your thoughts since it's recent falls which seems to be all time lows since Feb of this year.

However the trend may have changed, and interested to hear your thoughts...???

Cheers
SevenFX

[YOUNG_TRADER]

This stock looks interesting,

Its drilling a deep gas target in GOM so its similar to GDN and ADI/AUT yet it has got no coverage but then neither did GDN until it ran from 20c to 50c to $1.20+

Anyway turns out GGP's gas target could be worth up to $1.60according to valuations, now there was only 1 minor gas show so it doesn't look too promising but you never know, well was finished yesterday and they're running Wire Line Logs, so we should know very soon,

Given stock is trading at 30cish and discovery value is worth $1.60 I'd keep this on your RADAR,

Very Spec but I'm on for the ride!

[YOUNG_TRADER]

Wireline logs have been delayed due to hole problems,

May take another week before we know,

I reckon there's a 99% chance of a P&A
But a 1% chance of it being the $1.60 per share well that its been touted as


Either way will know soon

[YOUNG_TRADER]

I find it interesting that nobody has comented on or added to the GGP thread,

There are quite a few following GDN and ADI yet nobody seems to care about GGP

GGP has cashflow from its Gulf of Mexio operations and has secured drill rigs for up to 10 follow up wells so its not a one shot wonder,

That being said my interest in GGP for the moment is purely around its Deep Gas well that it has finished drilling, a well which in the UNLIKELY EVENT its a success would add $1.60 per share value

[kennas]

Was watching it this morning when it went up 12% but on small volume. Interesting.

[YOUNG_TRADER]

Not enough volume yet to suggest insiders, 1m+ shares = Somethings is definately up!

[kennas]

Yep.

[Dums]

Not enough volume yet to suggest insiders, 1m+ shares = Somethings is definately up!

Hi folks
Do you have any views on whether Pantheon's Mohawk, Caddo and Plum Deep wells will be plugged and abandoned, or flow commercial?
I know they're fishing/re-drilling in Plum Deep before being able to run wire-lines, but there has also been a big delay on announcing test results for Mohawk and Caddo - is this a good or bad omen???
My view would be no news is bad news, but have you heard any gossip!
Cheers
Dums (from iii board in UK)

[YOUNG_TRADER]

Dums this is what I think,

Slim chance of success but if Plum Deep comes through lookout!!!!!

Wireline logs have been delayed due to hole problems,

May take another week before we know,

I reckon there's a 99% chance of a P&A
But a 1% chance of it being the $1.60 per share well that its been touted as


Either way will know soon

[noirua]

Dums this is what I think,

Slim chance of success but if Plum Deep comes through lookout!!!!!

Yes, the drill seems to be stuck in the well and the share price has gone up. Looks early days and could prove expensive.

[Dums]

Thanks guys

I'll just wait and cross my fingers !!!
Cheers Dums

[YOUNG_TRADER]

Yes, the drill seems to be stuck in the well and the share price has gone up. Looks early days and could prove expensive.

Noirua, they have finished drilling, its the test logging equipement thats become stuck which they're fishing out of the hole to re-run the test,

This should only take another 5 - 10 days at most and given that a well success (however unlikely) could add $1.60 to the SP this will certainly be one to watch (especially given the kmt interest in ADI and GDN)

[fflintoff]

[QUOTE=Dums]Hi folks
Do you have any views on whether Pantheon's Mohawk, Caddo and Plum Deep wells will be plugged and abandoned, or flow commercial?
I know they're fishing/re-drilling in Plum Deep before being able to run wire-lines, but there has also been a big delay on announcing test results for Mohawk and Caddo - is this a good or bad omen???
My view would be no news is bad news, but have you heard any gossip!
Cheers
Dums (from iii board in UK)[/QUOTE
_______________________________________________
Dums.
Judging by PANR´s share price the market is pencilling in failure but could bounce back next year if Wilson is a sucess instead.

[YOUNG_TRADER]

Clost to another half a mil and another 2c up today

Interesting given the pounding the mkt is taking today


Sniffs of gas from the $1.60+ well coming out?

Still not enough vol for insiders, unless they were smart sneaky accumulating insiders

[YOUNG_TRADER]

AGM today,

Explains price action of late, more and more peeps being reminded that GGP have a huge well completed and currently being tested and if it fails its not the end of the world as they've got the drilling rig for 12months to drill another 7 deep high reward targets

[nizar]

AGM today,

Explains price action of late, more and more peeps being reminded that GGP have a huge well completed and currently being tested and if it fails its not the end of the world as they've got the drilling rig for 12months to drill another 7 deep high reward targets

YT how do you find all these winning stocks do you just plug in random letters and see if the code exits! LOL

(nah but seriously)

[YOUNG_TRADER]

YT how do you find all these winning stocks do you just plug in random letters and see if the code exits! LOL

(nah but seriously)

Niz the truth is actually alot funnier than that and you won't believe it,

I was trading GOP Options, Gippsland Offshore Petroleum and put up a buy of 500k @ 0.001 ie a $500 order, I was in and out of GOPO so much that this time I must not have paid attention,

I had accidentally put up GGPO and whats more I got 430k of those opies @ 0.001,

When I was checking through my CommSec position statements etc I saw my error,

I thought what the heck is GGP, looked it up and wow what an interesting story with little to none mkt coverage of it

In a nut shell the opies are 31st Dec 06 so about 1 month to go, they are 65c so still a bit off being in the money, but when I realised that the Well if successfull would be worth $1.60 (ie opies could be worth $1 each) I thought hmm I better switch em over into one of my Company accounts with Pato's so max tax is 30% on the gain and so I did on Friday I think

Funny huh?

Anyways I reckon that most likely the well will be a dud and opies will expire worthless, but I bought some stock for LT play (low 0.30's) as it really is an interesting US GOM Gas Player

[YOUNG_TRADER]

Another day another 2c up,


Kennas I saw a resistance line on the daily Candle Chart at 42c which started all the way back in mid January this year, you see it?

Now that its through 42c what levels do you see next? I'm not sure I see minors at 48/50/54c and a major at 58c

Anyway tech analysis aside a discovery will see it smash through $1.50
A failure will see it fall back to 30c