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What is the ticker of GST now that it has moved to the OTC? Press release stated it would be trading on the OTC markets today
Thank you in advance for your response
Now the fun begins!!!! Hang on for a OTC ride.... Jump in low and jump out high!!! Good luck to all!
Possible BO in works as well
GST immediately suspended and will appear on OTC as of Tomorrow.
HALTED - Per pending news.
For a company with such a large market cap. This stock price must be a bargain. The day traders is having a field day destroying this one with it being so cheap. Maybe if it was price higher out of the hogs reach it would be less volatile. Load up time
Gastar Exploration Announces Notification of NYSE American Continued Listing Deficiency
6:45 am ET August 29, 2018 (PR Newswire) Print
Gastar Exploration Inc. (NYSE American: GST) ("Gastar" or the "Company") announced today that, on August 28, 2018, it received a deficiency letter from the NYSE American stock exchange informing the Company of its non-compliance with continued listing standards because the Company's common stock has been selling for a low price per share for a substantial period of time. The NYSE American staff determined that the Company's continued listing on the exchange is predicated on it effecting a reverse stock split of its common stock or otherwise demonstrating sustained price improvement within a reasonable period of time, which the staff determined to be no later than February 28, 2019.
As previously reported, the Company is working closely with its financial and legal advisors to consider potential strategic transactions including financing, refinancing, sale or merger transactions, and is encouraging proposals from existing stakeholders and interested third-parties. The Company will accordingly consider measures that are in the best interests of the Company and its stockholders, but no decision has been made at this time with respect to specific measures regarding the continued listing of the Company's stock on the NYSE American. If the Company is unable to regain compliance, the NYSE American will initiate procedures to suspend and delist the Company's common stock, 8.625% Series A Cumulative Preferred Stock and 10.75% Series B Cumulative Preferred Stock. In the interim, the Company's common stock and two series of preferred stock will continue to be listed on the NYSE American subject to the Company's compliance with other continued listing requirements and subject to the trading price remaining above $0.06 per share. The Company's common stock will continue to trade on the NYSE American under the symbol "GST," but will have an added designation of ".BC" to indicate that the Company is below compliance with the listing standards set forth in the Company Guide. The NYSE American notification of continued listing deficiency does not affect the Company's business operations or its reporting obligations under the Securities and Exchange Commission regulations.
The Company has also been informally notified by the NYSE American staff that if the trading price of the Company's common stock trades at or below $0.06 per share, then the Company's common and preferred stock will be automatically suspended from further trading on the NYSE American. If the Company's preferred and common stock are suspended from the NYSE American, the Company expects that the securities would be quoted on the OTCQB over-the-counter market under different symbols on the following trading day. Such a suspension of trading would also accelerate the delisting process with respect to the Company's securities.
A delisting of the Company's common stock would constitute a "fundamental change" under the terms of the indenture (the "Indenture") governing the Company's Convertible Notes due 2022 ("Convertible Notes"), which would permit the noteholders to require the Company to repurchase all or part of such holder's notes on a date specified by the Company (the "Fundamental Change Repurchase Date") that is not less than 20 nor more than 35 calendar days after the date a fundamental change repurchase notice is sent (which is required to be sent within 20 calendar days of the fundamental change event) at a repurchase price, payable in cash, equal to 101% of the principal amount of the Convertible Notes being repurchased, plus accrued and unpaid interest to, but excluding, the Fundamental Change Repurchase Date. The failure to redeem the Convertible Notes on the Fundamental Change Repurchase Date would constitute an event of default under the Indenture and result in the automatic acceleration of the maturity date of the Convertible Notes. Furthermore, upon the occurrence of an event of default under the Indenture, Ares Management LLC and its affiliates, as holders of a majority in principal amount of the Company's term loan, or any transferee holder of a majority in principal amount of the Company's term loan, would have the right to immediately accelerate the maturity of the term loan.
About Gastar Exploration
Gastar Exploration Inc. is a pure-play Mid-Continent independent energy company engaged in the exploration, development and production of oil, condensate, natural gas and natural gas liquids in the United States. Gastar's principal business activities include the identification, acquisition and subsequent exploration and development of oil and natural gas properties with an emphasis on unconventional reserves, such as shale resource plays. Gastar holds a concentrated acreage position in the normally pressured oil window of the STACK Play, an area of central Oklahoma which is home to multiple oil and natural gas-rich reservoirs including the Meramec, Oswego, Osage, Woodford and Hunton formations. For more information, visit Gastar's website at www.gastar.com.
Forward Looking Statements
This news release includes "forward looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward looking statements express our current expectations, opinion, belief or forecasts of future events and performance. A statement identified by the use of forward looking words including "may," "expects," "projects," "anticipates," "plans," "believes," "estimate," "will," "should," and certain of the other foregoing statements may be deemed forward-looking statements. Although Gastar believes that the expectations reflected in such forward-looking statements are reasonable, these statements involve risks and uncertainties that may cause actual future activities and results to be materially different from those suggested or described in this news release. These include risks described in Gastar's Annual Report on Form 10-K, Quarterly Report on Form 10-Q for the three months ended June 30, 2018 and other filings with the U.S. Securities and Exchange Commission ("SEC"), available at the SEC's website at www.sec.gov. By issuing forward looking statements based on current expectations, opinions, views or beliefs, Gastar has no obligation and, except as required by law, is not undertaking any obligation, to update or revise these statements or provide any other information relating to such statements.
Contacts: Gastar Exploration Inc. Michael A. Gerlich, Chief Financial Officer 713-739-1800 / mgerlich@gastar.com
Investor Relations Counsel: Lisa Elliott / lelliott@DennardLascar.com Dennard-Lascar Investor Relations: 713-529-6600
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View original content:http://www.prnewswire.com/news-releases/gastar-exploration-announces-notification-of-nyse-american-continued-listing-deficiency-300703980.html
SOURCE Gastar Exploration Inc.
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gst is ready to rocket!
this things gonna pop soon into the high teens.
hopefully will get an offer soon .20-.30
the little oil and gas co are consolidating with big ones.
* * $GST Video Chart 08-13-18 * *
Link to Video - click here to watch the technical chart video
* * $GST Video Chart 08-10-18 * *
Link to Video - click here to watch the technical chart video
With that question my advice to you is to stay as far away from the stock market as possible
Wow... looks like GST is getting blasted into the Shadow Realm.
Confident in buyout or merger.. Company presentation seems thorough.. Patience may pay off bigly.. Go GST
Something tells me they will look for a buyout or merger. They stopped the panic of not going bankrupted. Hopefully something good will come out of the conference call.
Should bounce nice. I know that is what I am hoping for.
Panic sellers... Bankruptcy is off the table for now.. They will right the ship... GLTA.. Go GST
Consider that getting into GST is like getting into a dice game where the dice you are given are not your regular dice. And by that I mean to say, one of the dice has a 3 on one side and a 1 on the other 5. The second of the dice you are handed has a 4 on one side and a 1 on the five others. Yes, you can roll these dice and come up with a 7, and win a huge pile, but most probably you're going to throw snake eyes and lose your posterior.
I wish you the best.
* * $GST Video Chart 08-08-18 * *
Link to Video - click here to watch the technical chart video
Real honest question here. I'm big minus on stock market this week. Should I go all in tomorrow or wait until Friday after er. I need atleast 10% to 20% increase to help get back on my feed again. If anyone give really give me honest helpful advice on gst play in the next day or two,it will be very appreciated. Thank you to anyone with a genuine answer
Apologies for the late reply, week to week I expect GST to continue to climb but probably wont see a very steady climb until months end. So far so good on the PPS gaining back some ground.
Interesting finish. Some jumping in just in case I guess. Like us all
Read some analysis articles about GST. I can definitely say the ER and conference call is a real 50-50 coin toss for GST which scares me. I am hoping for the better because should both the ER and conference be bad. GST will drop into the sub-pennies.
I would say that its a coin flip whether GST does well or not but a coin flip implies that you have a 50% chance of success. I think the chance that Gastar pps moving north come Friday morning is 25% or less. However, if things do work out, prepare for a "To da moon blast off" kind of moment. The pps will probably breach the 50 cent level by Friday afternoon and will be knocking on the "one buck door" very early the following Monday.
That’s not very convincing haha I am thinking whether I wanna get out now or play the ER tomorrow. Very risky it seems
I've been watching and trading this stock for a couple of years and the one thing that really sticks out is the way the pps moves. And that movement is almost the speed of light whether it is north or south. Come tomorrow, after the close of trading, we will learn about how GST did for the 2nd quarter. I fear that it will not be good but if there is even the slightest glimmer of hope, then prepare for a jolt that will propel the stock up very quickly. If the info we get is all negative, well, very early into Friday Gastar will be transformed into the latest sub penny bomb.
I am guessing that there will be at least a hint of a silver lining in the Thursday dark cloud.
Why do you think this will hit .50 when it can barely even hit .20
If, come Thursday afternoon, it's not announced that GST is going the way of the passenger pigeon, it's possible you'll see the pps reaching for the buck level by Friday's close. There's no doubt in my mind that the half buck level will be reached.
If it's that bad according to the 6 analyst GST will tank to 0.000 area. I am a little optimistic about the company should their ER turn out to be positive than negative.
I would think GST will probably be looking to be bought out or merge with another company at this point if things are bad as it seems.
I don't expect multiple dollars come friday unless they do a r/s which will kill any chance of drawing new buyers other than shorts.
GST
Here's what to expect from Gastar Exploration's earnings report
https://markets.businessinsider.com/news/stocks/gastar_exploration_4-stock-price-quarter-earnings-preview-q2-1027438410
Well, things do indeed look rather gloomy for GST but since there's a small chance of recovery, I'm willing to risk a small amount of money for what could be some rather healthy gains. For me it's fun. Simple as that.
Why do you say that? I just read the article from Seeking Alpha, and they don’t have nice things to say about GST :(
I'm thinking that Thursday may not be as bad as some fear. And assuming that is the case, I think we'll see a significant rise in the GST pps come Friday.
I’m holding for news. Anything but BK and I think we rise from here
Thursday sure will be interesting after the market closes. Hopefully whatever good news comes out will help drive the current stock price up on Friday during PM and when the market opens.
Makes me curious on what Jerry R. Schuyler, Randolph C. Coley and Harry Quarls will decide to do with the company.
5 day chart has RSI reset, MACD turning positive and Bollingers pinching. It's primed.
why do you think it will move above .25 this week?
Poverty, misery, and woe!!!!!!!!!! LOL Just kidding. I think you will be happy with GST this week. I think it will move above the .25 level.
Better ER than expected. $60-70/bbl oil prices vs. <$50/bbl averages 2015-2017.
do you really think this can go to .20 by early next week. it seems it cant hardly even break that point so how can even go to a $1
After doing some diligence. This company actually owns thousands of acres! Respectively valued anywhere between 8k to 17K. Billions in asset value. At this price it's a complete steal. Buy and hold and you will 5 Bang your money.
Realistically? .21 to .34 Earnings is key. Great earnings then we blow the top off this sleeper! .60 to .87. Maybe a 2 day bull rally to 1.06! then sell off to the .70 range.
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Gastar is actively developing and producing reserves in the Marcellus Shale play in the Appalachian Basin, which is one of the hottest E&P plays in the U.S. Approximately two-thirds of Gastar's total net production currently comes from our Marcellus Shale wells. Gastar's focus in the Marcellus Shale is in northern West Virginia where the Marcellus contains high-Btu-content natural gas that also yields significant quantities of condensate and high-value natural gas liquids. Currently, over a third of Gastar's production from this area is condensate and NGLs - making well economics extremely attractive. Gastar expects to have a total of 38 gross operated wells and 11 gross non-operated wells on production in the Marcellus Shale by year-end 2012. Gastar's current focus of activity in the Marcellus Shale play is in northern West Virginia. The economics of these wells is enhanced by the high-Btu content of the natural gas, which yields significant quantities of condensate and high-value natural gas liquids. Click here for larger image. Gastar holds approximately 75,500 net acres in northern West Virginia and southwestern Pennsylvania near acreage held by some of the most active participants in the play. Gastar's leases are strategically located in areas where it is believed that the Marcellus Shale is over-pressured and where operational issues such as water sources, water disposal and gas transportation have proven to be easier to manage than in other parts of the play. Gastar's contiguous acreage position enables it to drill long laterals (an average of approximately 5,000 feet in length), and perform pad drilling operations and conduct large multi-stage fracture stimulations that improve well performance and economics. Acreage in Marshall and Wetzel counties in West Virginia is the current focus of Gastar's activities and capital budget, with over 100 additional well locations identified for near-term drilling. Gastar is drilling multiple Marcellus Shale horizontal wells in northern West Virginia from drilling pads similar to those shown above. Gastar is developing the West Virginia acreage in partnership with Atinum Partners of South Korea, a leading private investment firm. Gastar completed a joint venture with Atinum in November 2010 which covers 42,200 net joint venture acres (21,100 net acres to Gastar) in West Virginia and Pennsylvania. Outside the Atinum partnership, Gastar also holds 54,400 net acres primarily in Preston, Tucker and Pendleton counties in West Virginia in a dry-gas area referred to as our Marcellus East acreage. Due to current low natural gas prices, Gastar is deferring development of the Marcellus East acreage until prices improve. |
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Gastar has acquired an initial lease position in a new oil play located in the Mid-Continent region of the United States with the objective of developing a program focused on low-cost, repeatable horizontal development of conventional oil-bearing formations. Along with a partner, we currently hold approximately 36,700 net leasehold acres (18,350 net acres to Gastar) in three adjoining areas of mutual interest. The initial plan is to drill and complete three gross (1.5 net) horizontal wells by early 2013 to test the potential of the area. Gastar will pay 62.5% of the first four wells' gross drilling and completion costs and 56.25% of the next four wells' gross drilling and completion costs to earn a 50% working interest. For all additional wells beyond the first eight in a prospect area, we are responsible for paying only the drilling and completion costs associated with our 50% working interest (approximate net revenue interest of 39%). We are responsible for all leasing and permitting activities. Gastar's first non-operated well in the Mid-Continent began flow-back operations on October 5, 2012. Based on a recent 30 day average, the well is producing at a stabilized daily gross rate of approximately 84 barrels of oil, 428 barrels of completion fluids and 94 Mcf of 1,496 Btu natural gas, yielding approximately 105 barrels of oil equivalent per day after processing. To date, approximately 19% of the completion fluids from the 13-stage fracture stimulation have been recovered. Drilling and completion costs on the well to date are approximately $4.8 gross ($3.0 net) million. The drilling of the second of the three planned wells has commenced. This well has reached its vertical depth of approximately 7,900 feet, and intermediate casing has been set. Drilling of the approximately 4,400 foot horizontal lateral is in progress (as of mid-December 2012), and the well is anticipated to be on production by late January 2013. Drilling and completion costs of this well are estimated to be $4.3 gross ($2.7 net) million. The third Mid-Continent well is scheduled to commence drilling early January 2013. |
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