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People who informed from IR about PR today should ask them why it is not out yet? Usually IR is quite honest about these things. They won't email unless they are aware of it. I wonder why the delay? Can someone ask IR and post the reply?
I thought it was suppose to come in pre-market. Hope delay is for good.
I wonder what happened today?
Who got the Pre-market email from IR? Please post the email details
i don't see how they are helpful with garbage posts?
please stop this
what's IRP? who hires them?
GM All. Yes usually between 8:30 to 9:30 they release the news. GO GRPR!
Yes. Solimar news seems to be pending from ages now
GLTY too long haul!
Well we don't know what the news related to but based on past 2 weeks events pre-market news is certain.
Colud it be Bawden 1-24 well drilling news?
http://finance.boston.com/boston/news/read/21271908/grid_petroleum_reports_on_development_plan_of_unconventional_shale
Each Drilling permit requires a Blunt Nose Lizard "study" to be conducted once in the spring, which is currently underway by an outside service, and once again in the Fall. After the study is finalized the drilling permits can be issued and the drilling process will start. The partners are Planning a late fall window to spud the Bawden 1-24. (Last Quarter of 2012).
Solimar Receives Government Permit for Steam Enhanced Production Testing at Kreyenhagen
http://www.energydigital.com/press_releases/oil-and-gas/solimar-receives-government-permit-for-steam-enhanced-production-testing-at-kreyenhagen
Bruce, My account have no access to PM. But I clicked 'follow'.
Amen to that 1000 times
MMM,
Thanks for sharing that. Solimar is another subject that they could not answer certain questions I sent 2 days ago. I was informed they are waiting on solimar to disclose it. GRPR can be a "jackpot" if solimar discloses some great production OIL news in one or all of the six wells. keeping my fingers crossed.
Peter
Hi MMM,
In previous IR replies my two questions were somewhat related to your question number 2 & 3. I will answer their response below:
1)Application takes anywhere between 2 weeks to 2 months
2)Company is going to try minimum dilution for end of month note conversion.No reverse split.
Peter
GLTY too long haul! I hope to see better days for GRPR & us in near future.
Not sure why my posts got repeated 4 times. Sofware Glitz, I guess or some kind of indication from almighty
True. Also sometimes such news surfaces when people least expect it.
If GRPR can assure generating Revenues in near future this stock will explode to new highs within hours. Looking forward to monday news.
Not all. Not sure how many. But I bought at 0.0026 and didn't sell a single stock. I don't regret for not selling at 15 or 18. I want to hold it longer time because I rarely see such opportunity in penny stocks. Only problem is MMs and flippers will always be present to manipulate PPS no matter how good the news is. I hope that will STOP for good eventually. If you know any better oil plays with this kind of potential please share.
Next PR is drill status from Solimar. It is pending from long time. It can come out any day starting next week.
Quote:
From latest 10K
************************************************************************************************************************************
On March 1, 2011, Joaquin Basin entered into an Operating Agreement with Solimar Energy, LLC ( “ Solimar ” ) to explore and develop the 4,000 leased acres covering extensions of the Coalinga California oil and gas field in California. The acreage is labeled as the Kreyenhagen Trend acreage is on the nose of a Coalinga anticline.
In recent months, Solimar Energy as operator has been active on the Kreyenhagen Trend Prospect. Six wells have been submitted to the State of California for permitting. The permits are still under review by the State of California.
Bawden 1-24 - The well that we have a Carried Interest or Farm-in well where we will not have any expenses and we are carried 100%. Target Zone: Temblor Test
Vintage 1-17 - Temblor Test
Vintage 1-21 - Temblor Test
Den Hartog A-1 - Avenal Test
Den Hartog A-2 - Avenal Test
Den Hartog A-3 - Avenal Test
Each Drilling permit requires a Blunt Nose Lizard "study" to be conducted once in the spring and once again in the fall. After the study is finalized the drilling permits can be issued and the drilling process is expected to start. Plans to spud three exploratory wells sometime in 2013-2014. The Blunt Nose Lizard studies are still underway and upon completion the State of California will finalize the review of the proposed drilling permits.
************************************************************************************************************************************
Thanks Jedi! I am glad it is useful.
Brendan,
I don't see that big of impact on PPS with remaining Asher's notes.
As per today's PR, GRPR wants to be "operator" in CA as well as TEXAS assets. This is a huge news. But I don't see instant gratification here unless Solimar reports OIL in one of six wells.
If not we can expect pennies in couple of months time frame or latest by year end.
I am willing to wait it out. I am getting more and more convinced GRPR is not a scam and big rewards for those who have stomach to ride this roller-coaster.
Another best part of GRPR is its proactive IR. I love that team. It is always possible with right kind of news and alerts goals can be achieved in much earlier than I estimate.
MM's will always play mind games until Oil production news surfaces. I try to ignore day to day up/downs. We are true longs, day to day PPS manipulation should be ignored and focus should be on long term.
I truly believe GRPR is a rare Gem especially under a penny.
We will see! GL!
Peter
What is so Special about today's news?:
What is Eagle Ford Formation?:
Here's some info.
The Eagle Ford Formation (also called the Eagle Ford Shale) is a sedimentary rock formation from the Late Cretaceous age underlying much of South Texas in United States, consisting of organic matter-rich fossiliferous marine shale.
Petrohawk drilled the first well to produce oil and gas from the Eagle Ford in 2008, in LaSalle County, Texas. Oil companies quickly extended the productive area, which stretches from the Texas-Mexico border in Webb and Maverick counties and extends 400 miles toward East Texas. The play is 50 miles wide and an average of 250 feet thick at a depth between 4000 and 12,000 feet. The shale contains a high amount of carbonate which makes it brittle and easier to use hydraulic fracturing to produce the oil or gas. The oil reserves are estimated at 3 billion barrels.
In 2012, the Eagle Ford produced 2.294 billion cubic feet of gas and 52,000 barrels of oil and condensate per day. As of 2013, Eagle Ford production extended into 24 counties in Texas.
The Eagle Ford formation is the most prolific with a record setting well recently drilled by EOG, which has published details of the well with the Texas RRC. The well completion report indicates the EOG Burrow Unit 5h well initially came online at more than 9,200 boe/d and was reported still producing over 4,200 boe/d after 30 days. The EOG Burrows 5h well was drilled to a total depth of 17,364 ft. with a single horizontal lateral of 5300 ft.
Cabo, what do you think of today's PR?
I still didn't see a single post that likes to discuss today's PR. All I see is one liners cheering/booing based on up&down trading of GRPR. More than 90% pre-market cheering party seems already disappeared. What a sheer waste of cyberspace!
could you please sticky today's news?
Everythings good with GRPR considering current PPS..a great investment..MMs don't let it breath...hope it will change soon.
may be another PR with Solimar update.
The company anticipates it will have the lease acreage under contract with the next thirty days with plans to immediately begin the mapping, planning, and drill site selection process for the development of the leasehold. The company will be the Operator of this acreage.
EOG already hit the OIL! It is a proven reserve. It means we are going to hit oil in short span of time. GRPR deserves to trade in pennies RIGHT NOW! Go GRPR!
EOG --> EOG Resources, Inc. (EOG) -->Trading $151 per share
http://finance.yahoo.com/q?s=EOG&ql=1
What GRPR News telling you is it is a proven OIL reserve site with affluent OIL already dug by EOG company this month (Aug 12)
Drilling will start in a month.
This is no joke. We are in good hands now!!!
EOG Eagle Ford Well Produces 7,500 Barrels in 24 hours – Regional Record
http://eaglefordshale.com/news/eog-eagle-ford-well-produces-7500-barrels-in-24-hours-regional-record/
EOG filed a completion report with the Texas Railroad Commission in May that detailed a well test that produced over 8,600 boe/d from the Eagle Ford.
In a 24-hour test, EOG operated well produced 7,513 barrels of oil and 6.8 mmcf of natural gas.
The well is located 15 miles south of Gonzales just east of 183 on the Gonzales – DeWitt county line. The well was drilled to a measured depth of 17,364 ft. The measured depth includes a horizontal lateral of a little more than 5,300 ft.
At the time of the test, the well had already produced 40,121 barrels of oil. The well is situated on a 375.87 acre lease, so I’d say it’s going to make for a happy royalty owner.
UPDATE 08/07/2013 Details on the Burrow Unit 5H well were included in EOG’s second quarter earnings release. The announced IP was a little more than 9,200 boe/d from a long lateral (~7,500 ft). After 30 days, the well was producing 4,265 barrels of oil per day!
The completion report included the following:
The well was tested for 24 hours on May 25, 2013
Choke size was 38/64ths
Casing pressure of 3,799 psi
7,513 barrels of oil produced
6,877 mcf of natural gas produced
1,378 barrels of water produced
Well EUR In The Millions
This will be an interesting well to watch over the next year. If you assume the well produces 5,000 b/d of oil in the first month and has a decline rate of 75% in the first year, it will easily eclipse 1,000,000 million barrels of oil production. That’s a million barrels in the first year!
If the decline rate is closer to 90% in the first year, the well will produce more than 700,000 barrels of oil and be on path to eclipse 1 million barrels of production in year two.
EOG’s Burrow Unit 5H Well Better Than First Reported
http://eaglefordshale.com/news/eog-resources-burrow-unit-well-better-than-reported/
We published details from the Texas RRC completion report related to EOG’s record Eagle Ford well, but the company’s second quarter operations update proved the well was better than first reported.
EOG reported the well came online at more than 9,200 boe/d. That compares favorably to the 8,600 boe/d that was reported to the commission. Better yet, the well was still producing more than 4,200 barrels of oil per day after 30 days. The well is easily the best in the Eagle Ford to date.
The well easily produced more than 150,000 barrels of oil in its first month online!
Eagle Ford Growth Leads To Company-wide Increase In Guidance
As a result of performance in the company’s liquids plays (i.e. Bakken & Eagle Ford), EOG is increasing annual crude oil production guidance from 28% to 35%.
“We have the confidence to raise the bar on EOG’s performance expectations because our outstanding assets perform better and better, quarter after quarter,” said CEO William R. “Bill” Thomas. “EOG expects to achieve these higher goals within our previously stated capex estimate.”
At the end of the second quarter, EOG was producing 173,000 boe/d from the Eagle Ford and had more than doubled initial production rates across much of the play.
The company highlighted several wells across La Salle, McMullen, and Gonzales counties that produced ~1,500 barrels of oil per day or more. The record Burrow 5H well was part of a unit that had two other wells come online at ~3,000 b/d of oil. It’s easy to see why the company is increasing its production guidance.
“With wells in our western drilling program following the same trend as those in the east, results from the EOG’s Eagle Ford activity continue to outpace our expectations,” Papa said.
News is great. GRPR should have updated on Solimar also. May be next PR.
NEWS: Grid Petroleum Corp Negotiates Eagle Ford Leasehold.
http://finance.yahoo.com/news/grid-petroleum-corp-negotiates-eagle-123500072.html
DENVER, CO (ACCESSWIRE) 8/22/2013 8:30:00 AM - - Grid Petroleum Corp. (GRPR), (GRPR):: The Board of Directors are pleased to announcing that Grid Petroleum has entered into negotiations with the leaseholders of approximately two thousand acres of land in Duval County, Texas for the purpose of exploration and Oil and Gas development.
The company anticipates it will have the lease acreage under contract with the next thirty days with plans to immediately begin the mapping, planning, and drill site selection process for the development of the leasehold. The company will be the Operator of this acreage.
Primary target production zones in Duval County are the Frio, Hockley, Wilcox and Yegua Sands with deeper production from the Eagle Ford and Jackson Shale formations.
The Eagle Ford formation is the most prolific with a record setting well recently drilled by EOG, which has published details of the well with the Texas RRC. The well completion report indicates the EOG Burrow Unit 5h well initially came online at more than 9,200 boe/d and was reported still producing over 4,200 boe/d after 30 days. The EOG Burrows 5h well was drilled to a total depth of 17,364 ft. with a single horizontal lateral of 5300 ft.
California Update:
The Company's recent acquisition of the Jacalitos Prospect is in the initial planning stages of development. Discussions are currently in process with the Joint Venture partner for the Company to take on the position of Operator for both the Jacalitos Prospect and the Kreyenhagen Trend acreage. The Company had previously reported that it was in the process of applying for an Operators permit for the State of California, upon achieving the Operators permit and the successful negotiations for operator status with the Joint Venture partner, the company will then provide a timeline for its planned drilling and developmental activities.
The Jacalitos Prospect is located in the San Joaquin Basin, South of Coalinga, East and South East of the 22,000,000 bbl Jacalitos Nose oil field.
The Kreyenhagen Trend acreage also located in the San Joaquin Basin in Southern California having the target zones of the Kreyenhagen and Monterey Shale formations.
Grid Petroleum Corp. is a development stage company focused on the acquisition and development of low cost high reward oil and gas prospects with infield drilling for proven potential reserves in the United States and Canada.
Legal Notice Regarding Forward-Looking Statements in this news release that are not historical facts are forward-looking statements that are subject to risks and uncertainties. Forward-looking statements are based on current facts and analyses and other information that are based on forecasts of future results, estimates of amounts not yet determined, and assumptions of management. Forward looking statements are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "aims", "potential", "goal", "objective", "prospective", and similar expressions or that events or conditions "will", "would", "may", "can", "could" or "should" occur. Information concerning oil or natural gas reserve estimates may also be deemed to be forward looking statements, as it constitutes a prediction of what might be found to be present when and if a project is actually developed.
Actual results may differ materially from those currently anticipated due to a number of factors beyond the reasonable control of the Company. It is important to note that actual outcomes and the Company's actual results could differ materially from those in such forward-looking statements. Factors that could cause actual results to differ materially include misinterpretation of data, inaccurate estimates of oil and natural gas reserves, the uncertainty of the requirements demanded by environmental agencies, the Company's ability to raise financing for operations, breach by parties with whom we have contracted, inability to maintain qualified employees or consultants because of compensation or other issues, competition for equipment, inability to obtain drilling permits, potential delays or obstacles in drilling operations and interpreting data, the likelihood that no commercial quantities of oil or gas are found or recoverable, and our ability to participate in the exploration of, and successful completion of development programs on all aforementioned prospects and leases. Additional information on risks for the Company can be found in the Company's periodic filings filed from time to time with US Securities and Exchange Commission at http://www.sec.gov/.
This press release does not constitute or form a part of any offer or solicitation to purchase or subscribe for securities in the United States. The securities mentioned herein have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "Securities Act"). They may not be offered or sold in the United States (as defined in Regulation S under the Securities Act), except pursuant to an exemption from the registration requirements of the Securities Act.
Cautionary Note to U.S. Investors - The United States Securities and Exchange Commission permits oil and gas companies, in their filings with the SEC, to disclose only proved reserves that a company has demonstrated by actual production or conclusive formation tests to be economically and legally producible under existing economic and operating conditions. We use certain terms such as estimates of a mean of undiscovered natural gas and estimates of a mean of undiscovered oil that the SEC's guidelines strictly prohibit us from including in filings with the SEC. U.S. Investors are urged to consider closely the disclosure in our Form 10-K and other periodic reports filed by us from time to time with the SEC, available from us at http://www.sec.gov/. You can also obtain this form from the SEC by calling 1-800-SEC-0330.
CONTACT:
http://www.gridpetroleum.com/
702 751 3889
SOURCE: Grid Petroleum Corp.
Latest PR says current common share holders will be wiped out. Did I miss something? Why PPS rise?
Sethb,
I am thinking beyond just tomorrow's PR. It would be great if tomorrow's PR gives a update on company's current assets, drilling plans, new JV, recent share structure, financing plans, long term goals, new website update (it does not look good now. Info is outdated). Basically a letter addressed to shareholder explaining in detail company's short and long term goals in power point presentation would be great.
After all, assets are worth over 8 mil and debt is only around 1.28 mil. If CEO Tim able to bring in the confidence that drilling is started and company can start generating revenues in near future then this can definitely attract many many new investors.
GL!
Peter
TGP, If they found oil then anything under penny will look like STRONG BUY. Even Asher conversion will have minute impact on PPS. Its time for PPS to move NORTH.
I won't be surprised if it is related to solimar (drill status of 6 wells)..They have been waiting for Solimar to disclose the info since last week (as per past IR email). I guess our time has finally come. Longs deserve the best! GL to all longs tomorrow!!
Thank you, sprintcar58! Can't wait for tomorrow now