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sounds like you have high hopes and high price targets on this ?
"Float" is probably 60m shares - and about 6m has been taken out at very low prices over the past month
There haven't been any sellers in volume for the past week
The question is are the recent buyers going to try to flip it at a triple, or are they going to hold and look for 20x returns
The major natural gas field starts flowing in August
Shemen drills into the oil layer TD in August
GGLR doesn't have a pretty balance sheet at the moment, they know that regulators could use it at an excuse to take actions, so they are not going to file anything until either: $16m Cambay transaction closes, or, Myra/Sarah Phase 2 cash comes in, which is dependent on Shemen oil find, or, the recent buyers figure they get the float locked up, hit the share count they are happy with, and give GGLR a big loan to settle the current outstanding cash calls and make a big investment in KG-onshore ...
In the mean time GGLR has cut to the bone and is cash flow positive from Tarapur revenues
Trust your gut the DD is there read some old prs ..this float is getting locked down everybody is trying to bye nice and quite and shorty sells a 1000 at 0.026 ..hes trying to paint the close so the chart will not pop up on scans ..Once news hits this will run back into the .10 range very quick IMO
Where did you go Orange
Those are some large numbers. Why is the stock at these low prices? I see it was de-listed but lots of OTCBB stocks trade higher than these prices. Exchange listing means nothing in the end. It's all about pipeline and cash. Input would be good.
Why is the price $.03 and why is the market cap low? Shouldn't this stock be significantly higher? Nobody is interested on this company. I don't get it. Seems like a great buy to say the least.
If Shemen hits light oil , they will likely be worth $1-1.5 billion, with no cash and $150m sunk cost well.
Given that, if Adira GGR gets regulatory approval to drill in April 2014, our 33% stake in Samuel can easily be worth $1/share, with 180m shares outstanding ...
Deen Dayal will also be worth a lot once the initial sales contract is signed in about 6-8 weeks -- how much GGR's carried 5% is worth depends on the sales price of that contract and initial volume from the wells.
What is your target here this year?
Would be nice if NITE would take some of that 1.5M bid support @ .022 and slap the ask.
Wake me when it gets into .07-.09 range.
Yes, whomever paid .025-.026 today is expecting .25+ in 6 month timeframe ... There are a number of activities in motion, both in India and in Israel, which will start clarifying the value of GGLR's properties beginning in August
In the mean time , GGLR has cut all development expenditures and has overhead down to a few key people, to live within the $100k/month free cash flow they get from Tarapur production (one of the properties they are waiting on approval to sell for .09/share)
Wow! Had a sell in for .025 and it sold today (well yesterday) in the green after being in the red for weeks. Something must be up, but I'm just glad I came out ahead on this one.
This transaction is on hold, but yes, for about a quarter of Geoglobal's assets, they have a deal that will bring them .09 / share in cash
The Indian state run firms and regulatory management committees need to approve this transaction
Seems like a great buy here. Am I missing something?
GeoGlobal Announces Sale of Certain Indian Assets
GeoGlobal Resources Inc. ("GeoGlobal" or the "Company") (NYSE MKT:GGR) announced today that it has entered into a share purchase agreement with Sarus Energy Ltd. ("Sarus") pursuant to which Sarus will acquire 100% of the issued and outstanding shares of a wholly owned subsidiary of the Company, GeoGlobal Exploration (Barbados) Inc. ("GEB"), in a two-part transaction.
Included in the transaction is the Company's 14% - 20% participating interest ("PI") in the CB-ON/2 PSC ("Tarapur"), which includes: the Tarapur Mining Lease and the Tarapur Ring Fenced PSC; a 10% PI in CB-ONN-2003/2 ("Ankleshwar"); and a 10% PI in CB-ONN-2002/3 ("Sanand/Miroli"), (collectively referred to as the "Cambay Assets").
On the first closing date, Sarus will acquire 49% of the issued and outstanding shares of GEB for US$2,000,000. The first part of the transaction is expected to close on April 12, 2013.
On the second closing date, Sarus will acquire the remaining 51% of the shares of GEB for US$14,000,000. The second closing is subject to certain terms, conditions and consents, including the approval of the Government of India.
Anybody know what the scoop is here? My buddy said 2mm bid was in all week around $.017. $34,000 bid seems like someone knows something.
I've to agree with you, this board use to be a lot more active. I think once the company settle it's ( $14 MIL )sell in India it'll pick back up along with the PPS.
Why is this board so slow with activity? Company only has 150mm shares out. This looks to be and easy gamble here. Input would be cool.
Something's up, Bid of 240,000 @ .0171.
GGLR just popped up in a screen. What's the word? I see it just recently started trading again.
No sellers ..??? no buyers ??? this flost is locked down imo once news is out about India deal youll see some trading and a rush for shorty to cover IMO ..watch for 0.05 cent break IMO
Anyone knows why GGLR is not trading today?
GGLR could be a monsta TODAY..a little ask at 0.02
GGLR going sub penny this week IMO "load up", .03 was bottom remember lol
COMPLETELY agree ready for 1$ with an R/S
Going to a dollar when they R/S this POS soon
yeah, i am not getting anything yet either - last print .02
tried to buy shares but there is not a bid or ask
GGLR it is:
12:59 GGLR GeoGlobal Resources Inc. Common Stock 5/3/2013 Y 100 From AMEX (GGR)
they will probably add another letter to the end of the already existing ticker - we shall see
your right. im not sure.
A three letter symbol on the OTC?
i think the same symbol but im not sure.
Anyone know what the new symbol will be?
GeoGlobal Resources Inc. (the "Company") (NYSE MKT:GGR) previously announced that it had received a delisting notice from the NYSE MKT LLC (the "Exchange") on April 17, 2013. The Company had the right to appeal the Exchange's determination on or before April 24, 2013. The Company did not request an appeal and therefore, the Exchange's determination has become final. Accordingly the Company's Common Stock is scheduled for delisting from the Exchange, and trading in the Company's Common Stock on the Exchange will be discontinued effective at the close of business on Thursday May 2, 2013.
The Company has made an application with the OTC Bulletin Board and taken the necessary steps so that the Company's Common Stock will be traded on the OTC Bulletin Board as soon as practicable after May 2, 2013.
About GeoGlobal
GeoGlobal Resources Inc., headquartered in Calgary, Alberta, Canada, is a US publicly traded oil and gas company, which, through its subsidiaries, is engaged in the pursuit of petroleum and natural gas in high potential exploration targets through exploration and development in India, Israel and Colombia.
Cautionary Statement For Purposes Of The "Safe Harbor" Provisions Of The Private Securities Litigation Reform Act Of 1995.
This press release contains statements which constitute forward-looking statements within the meaning of the US Private Securities Litigation Reform Act of 1995, including statements regarding the plans, intentions, beliefs and current expectations of GeoGlobal Resources Inc., its directors, or its officers with respect to the oil and gas exploration, development and drilling activities being conducted and intended to be conducted and the outcome of those activities on the exploration blocks in which the Company has an interest. The Company updates forward-looking information related to operations, production and capital spending on a quarterly basis and updates reserves, if any, on an annual basis.
We caution you that various risk factors accompany our forward-looking statements and are described, among other places, under the caption "Risk Factors" in our Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q and our Current Reports on Form 8-K. These risk factors could cause our operating results, financial condition and ability to fulfill our plans to differ materially from those expressed in any forward-looking statements made in this press release and could adversely affect our financial condition and our ability to pursue our business strategy and plans. If our plans fail to materialize, your investment will be in jeopardy.
An investment in shares of our common stock involves a high degree of risk. Our periodic reports, which we file with the Securities and Exchange Commission and Canadian provincial authorities may be viewed at http://www.sec.gov and www.sedar.com.
Contacts:
GEOGLOBAL RESOURCES INC.
+1-403-777-9250
info@geoglobal.com
www.geoglobal.com
Buying down here again nothing has changed they stil are in one of the biggest gas plays in the world ..10 percent of that is no joke ..never mind there already producing wells ..imo
I guess we need some more bad news, it seems to be helping their PPS.
GeoGlobal Resources Inc. (the "Company") (NYSE MKT:GGR) received notice from the NYSE MKT LLC (the "Exchange") on April 17, 2013, the Exchange notified the Company that it intends to strike the common stock of the Company from Exchange by filing a delisting application with the Securities and Exchange Commission (the "SEC") pursuant to Section 1009(d) of the NYSE MKT Company Guide ("Company Guide").
As previously released the Company received a letter from the Exchange on November 30, 2012, indicating that the Company was not in compliance with two of the continued listing standards as set forth in Section 1003(a)(iv) and Section 1003(f)(v) of the Company Guide.
The Company was afforded the opportunity to submit a Plan of compliance (the "Plan") to the Exchange and on December 31, 2012 presented its Plan to the Exchange.
On February 15, 2013, the Exchange notified the Company that it accepted the Company's Plan of compliance and granted the Company an extension until May 31, 2013 (the "Plan Period") to regain compliance with the continued listing standards. However, the Company will be subject to periodic review by Exchange Staff during the Plan Period. Failure to make progress consistent with the plan or to regain compliance with the continued listing standards by the end of the Plan Period could result in the Company being delisted from the NYSE MKT LLC.
The April 17, 2013 notice to file the delisting application is based on careful review by the Exchange of publicly available information and information provided by the Company. The Exchange has determined that the Company has not made progress consistent with the Plan and failed to present a reasonable basis to conclude that the Company can regain compliance with the Exchange's continued listing standards by the end of the Plan Period.
In accordance with Sections 1203 and 1009(d) of the Company Guide, the Company has a limited right to appeal the Exchange's determination, until April 24, 2013, by requesting an oral hearing or a hearing based on a written submission before a Listing Qualifications Panel (a "Panel") and the Panel may only authorize the continued listing of the Company's securities as permitted by Section 1009 and 1204(c) of the Company Guide. If the Company elects not to appeal the Exchange's determination by April 24, 2013, it will become final and Exchange will then suspend trading in the Company's securities and file an application with the SEC to strike Company's common stock from listing and registration on the Exchange in accordance with Section 12 of the Securities Exchange Act of 1934 and rules promulgated thereunder.
As previously announced, the Company has not filed with the US and Canadian Regulatory authorities its audited consolidated financial statements for the year ended December 31, 2012, that was due to be filed on April 16, 2013. The timely filing of such report is a condition for the Company's continued listing on the Exchange, as required by Sections 134 and 1101 of the Company Guide.
The Company is currently reviewing its right to appeal and the current options available with respect to maintaining the listing. Management continues to work on the transactions contained in the Plan as approved by the Exchange so that an appeal may be launched and compliance regained as per the Exchanges requirements.
About GeoGlobal
GeoGlobal Resources Inc., headquartered in Calgary, Alberta, Canada, is a US publicly traded oil and gas company, which, through its subsidiaries, is engaged in the pursuit of petroleum and natural gas in high potential exploration targets through exploration and development in India, Israel and Colombia.
Cautionary Statement For Purposes Of The "Safe Harbor" Provisions Of The Private Securities Litigation Reform Act Of 1995.
This press release contains statements which constitute forward-looking statements within the meaning of the US Private Securities Litigation Reform Act of 1995, including statements regarding the plans, intentions, beliefs and current expectations of GeoGlobal Resources Inc., its directors, or its officers with respect to the oil and gas exploration, development and drilling activities being conducted and intended to be conducted and the outcome of those activities on the exploration blocks in which the Company has an interest. The Company updates forward-looking information related to operations, production and capital spending on a quarterly basis and updates reserves, if any, on an annual basis.
We caution you that various risk factors accompany our forward-looking statements and are described, among other places, under the caption "Risk Factors" in our Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q and our Current Reports on Form 8-K. These risk factors could cause our operating results, financial condition and ability to fulfill our plans to differ materially from those expressed in any forward-looking statements made in this press release and could adversely affect our financial condition and our ability to pursue our business strategy and plans. If our plans fail to materialize, your investment will be in jeopardy.
An investment in shares of our common stock involves a high degree of risk. Our periodic reports, which we file with the Securities and Exchange Commission and Canadian provincial authorities may be viewed at http://www.sec.gov and www.sedar.com.
Contacts:
GeoGlobal Resources Inc.
+1-403-777-9250
info@geoglobal.com
Lot of volume at .02 bargain hunters entering
I'd say there's a chance with the going concern that this company ceases to exist in even a year. I just see it as even if the worst case scenario occurs this company is still undervalued that's why I'm in
I agree with you and unless this stock has a really huge bounce, I'm looking at about a 2 to 3 year investment here for me.
Coming from a finance major myself. Not someone who tries to follow some "pattern" in a chart that they claim they can use to predict the future. This all while not taking into account any financials or recent news. GGR as an investment not a short term trade is a very good idea to look at. I have reinitiated my stake as a long position in GGR for these reasons. Though GGR have over 40 million In liabilities none of it is conventional debt. It is all commitments and money purposes for working capital. This is coupled with roughly 65 million in assets, which along with the current prices of natural gas stands to increase. This leaves the company with an owners equity of 24 million dollars. For those of you who don't know owners equity is all assets investments and equity subtracted from current liabilities. I do believe the likely hood of GGR 16 million dollar deal going through as very unlikely as it realizes way too heavily on a company just as cash strapped as GGR magically coming up with large amounts of financing somehow. However this being said if GGR ceases operations and decides to go close up shop due to a lack of working capital, things aren't really that bad they are quite good actually. No they do not go bankrupt like shorts are continually trying to scare people into selling by saying that. They have no creditors or leans on anything so there is no concern there. Upon liquidation of the assets even at a 10 percent discount of current valuation would leave them about 52 million in cash upon paying down 40 million in liabilities it would leave 12 million to be divided between the shareholders of the company. At GGR's current share price of .0275 the market cap is 3.8 million leaving about 200 percent Or more of potential upside in this stock.
Higher Nat gas prices bodes well for asset prices
Set forth below is certain financial information from our unaudited financial statements as at and for the year ended December 31, 2012. The Company’s cash balance at December 31, 2012 and anticipated cash flow from operating activities are not sufficient to satisfy its current liabilities and meet its exploration commitments of $12.1 million and $21.9 million, over the twelve months ending December 31, 2013 and the twenty-four months ending December 31, 2014, respectively. As at December 31, 2012 the Company has $0.8 million of cash and cash equivalents, of which $0.1 million is committed to carry out activities of the Myra and Sara joint venture. The residual cash of $0.7 million is available for general operations of the Company and to meet its current liabilities and exploration commitments of $12.1 million and $21.9 million as described above. To meet its obligations, the Company must divest certain oil and gas interests, subsidiaries or other available assets, including entering into other financing arrangements typical in the industry such as farming out interests in oil and natural gas properties. The Company will also continue to seek to raise capital through equity and debt markets. The Company’s cash as at December 31, 2012, available for general operations of $0.7 million is not sufficient to meet its ongoing operational requirements. In the fourth quarter of 2012, the company has curtailed staffing at its Canadian and Indian offices and rationalized other expenditures to minimize the ongoing operational requirements pending the outcome.
Oil and gas sales 487,467
Interest Income 14,319
Impairment of oil and gas properties 15,861,223
Net loss and comprehensive loss 21,812,552
Net loss per share – basic and diluted 0.17
Current assets 22,336,143
Property and equipment 42,256,456
Total assets 67,503,267
Current liabilities 41,417,139
Total liabilities 42,251,973
Stockholders’ equity 25,251,294
Cash dividends 0
Don't say I didn't warn you as per my last post!
Today's news.
GeoGlobal Resources Inc. ("GeoGlobal" or the "Company") (NYSE MKT: GGR) today announced that the Company has not filed with the US and Canadian Regulatory authorities its audited consolidated financial statements for the year ended December 31, 2012, that were due to be filed on April 16, 2013. The Company did not have sufficient funding to file its audited financial statements by the due date. As previously announced, the Company and Sarus Energy Ltd. ("Sarus") had agreed to close the first part of the sale of certain of the Company's Indian assets (the "Indian Asset Sale") for proceeds to the Company of $2 million on April 12, 2013. Sarus did not close the first part of the transaction on time and has requested an extension. The Company continues to focus on closing the transaction with Sarus and on finding other sources of capital. There is a substantial risk it will not prove to be successful.
The Company anticipates filing its audited financial statements upon the closing and funding of the first part of Indian Asset Sale or upon obtaining funding from other sources.
Financial Review
Set forth below is certain financial information from our unaudited financial statements as at and for the year ended December 31, 2012. All amounts in the release are in U.S. dollars unless otherwise noted:
View data
Oil and gas sales 487,467 Interest Income 14,319 Impairment of oil and gas properties 15,861,223 Net loss and comprehensive loss 21,812,552 Net loss per share - basic and diluted 0.17 Current assets 22,336,143 Property and equipment 42,256,456 Total assets 67,503,267 Current liabilities 41,417,139 Total liabilities 42,251,973 Stockholders' equity 25,251,294 Cash dividends -0-
Going Concern
The Company has not achieved its planned principal operations and is considered to be in the development stage. The Company's exploration activities and overhead expenses are financed by way of equity issuance and to-date, oil and gas sales are incidental to the exploration process.
The Company's financial statements as at and for the year ended December 31, 2012 have been prepared on a going concern basis, which contemplates the realization of assets and the settlement of liabilities and commitments in the normal course of business. During the year ended December 31, 2012, the Company incurred a net loss of approximately $21.8 million, used approximately $1.8 million of cash flow in its operating activities, used approximately $9.7 million in its investing activities and had an accumulated deficit of approximately $82.0 million. As at December 31, 2012, the Company has working capital deficiency of approximately $19.1 million. These matters raise substantial doubt about the Company's ability to continue as a going concern.
The Company's cash balance at December 31, 2012 and anticipated cash flow from operating activities are not sufficient to satisfy its current liabilities and meet its exploration commitments of $12.1 million and $21.9 million, over the twelve months ending December 31, 2013 and the twenty-four months ending December 31, 2014, respectively. As at December 31, 2012 the Company has $0.8 million of cash and cash equivalents, of which $0.1 million is committed to carry out activities of the Myra and Sara joint venture. The residual cash of $0.7 million is available for general operations of the Company and to meet its current liabilities and exploration commitments of $12.1 million and $21.9 million as described above.
To meet its obligations, the Company must divest certain oil and gas interests, subsidiaries or other available assets, including entering into other financing arrangements typical in the industry such as farming out interests in oil and natural gas properties. The Company will also continue to seek to raise capital through equity and debt markets.
The Company's cash as at December 31, 2012, available for general operations of $0.7 million is not sufficient to meet its ongoing operational requirements. In the fourth quarter of 2012, the Company has curtailed staffing at its Canadian and Indian offices and rationalized other expenditures to minimize the ongoing operational requirements pending the outcome of uncommitted financing activities described above. If these activities are unsuccessful, the Company will be forced to substantially curtail or cease exploration, appraisal and development expenditures and other operating activities.
The Company's ability to continue as a going concern is dependent on the success of the operational and financing initiatives and the successful completion of further exploration and development activities that will generate profitable operations from its oil and natural gas interests in the future. The Company must make an assessment of its ability to fulfill current liabilities and to meet future exploration requirements in the normal course of business. The assessment requires estimates regarding future uncommitted financing, future costs of exploration programs, timing of activities, future oil and gas prices, amongst other things. Such estimates are subject to uncertainty and should our estimates be materially incorrect, the Company's ability to continue as a going concern would be impaired and these consolidated financial statements could require material adjustments to the value of assets and liabilities. These consolidated financial statements do not reflect any such adjustments or reclassifications.
Subsequent to December 31, 2012, the Company entered into share purchase agreement with Sarus Energy Limited, sold its office premise in India and entered into agreement with a private Israeli investment group. Proceeds received from these transactions will be used to reduce the working capital deficiency. As of today, these transactions, except for sale of office premise in India, have not closed and there can be no certainty that these transactions will successfully close. The Company's ability to continue to meet our ongoing financial commitments and pay our creditors is dependent on closing these transactions.
Lol ya a giant alright, giant POS that continues to lose everyone a bunch of money. Knew that wasn't a bottom. Only "shorters" made money here lolol
Not good news here today. but maybe a chance to pick up some on the cheap.
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GeoGlobal Resources is an Exploration and Production (E&P) Company primarily focused on exploration, development and production in India. Currently, the Company has E&P interests in the world-class Krishna Godavari and Cambay Basins
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