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I sent an email to IR today morning. I am still waiting for an answer.All my previous 5 emails were answered promptly in the past. I like this IR person. He/She is very pro-active.
Thanks for sharing. What was your question to IR?
I smell OIL. I think some great news will be out soon.
GL to all longs!
I was referring to 1-24 well which comes under Kreyenhagen Acreage Trend. I know Kreyenhagen field heavy oil is already sold to Petrodorado Energy as per following
http://www.researchviews.com/energy/oil-gas/explorationproduction/DealReport.aspx?sector=exploration%20and%20production&DealID=218776
GRPR valuation increased to $8,200,000
How can we keep missing good parts of info from latest 10Q?
May be we are way too focused on Asher?? Why??
On Page 9...
http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=9466911
The Company received a reserve report from an independent petroleum geologist as of March 31, 2013, which utilized the following assumptions:20% working interest (14% net revenue) supported by a “ P10 ” factor, a 10% recovery rate, value for oil of $50 per barrel, resulting in an approximate value to the Company of $8,200,000, an amount in excess of the $7,112,000 recorded on the accompanying consolidated balance sheets.
We are trading at 0.0008 PPS. Do the Math!
Still waiting on this one I think its time
Forget 2012 ... that's OLD news...
How you can miss this from 2013?
SELH (Solimar 100%, Operator)
Location: Central San Joaquin Basin on the south east plunge of the giant Lost Hills field anticline.
Description:
Area: 4,000 acres (gross)
Technical:
Shallow (2,000 to 4,000 ft), Pliocene gas accumulation on the plunge of the Lost Hills regional anticline. Gas dry and possibly biogenic. Mainly contained in thin (<25 ft), fine grained silty sands with strong stratigraphic control of the trap indicated.
Solimar has a +5 mmcfd capacity gas plant on site connected by Solimar owned pipeline to a gas export trunkline. A gas sales agreement is in place with a large gas producing company.
Gas previously production tested by SGY from the Jack Hamar 3-13 (two zones) and Jack Hamar 2-13 wells that were drilled by a prior operator and re-entered and tested by Solimar. The 3-13 well produced gas over a 6 month period at an average of 300 mcfpd.
Solimar owns 4 suspended well bores (2-13, 3-13, 4-13 and 1-24).
Target resource 40 bcf recoverable gas. Upside 100 bcf.
Forward Plan:
Complete testing program of the re-entered the 1-24 well and drill new appraisal well.
http://www.solimarenergy.com.au/solimar-projects.php?p=5
Pretty dang sweet!!!
Plans to spud three exploratory wells sometime in 2013-2014. We are very very close to BIG news.
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.
Yes Brendan, I just re-read the cabo posts. Potential is big, no doubt there. It is a waiting game now. Although I think some big PR will come to surface sooner than later. Company IR mentioned they are waiting on solimar to disclose the info. Which means it is just a matter of time. May be tomorrow or end of this week? We will see. GL!
We will see. Time will tell.
Really??? Oh Dear!
******************************************************************
> ________________________________
> From: Investor Relations <ir@gridpetroleum.com>
> To: Peter Gates <******@***.com>
> Sent: Friday, August 9, 2013 12:32 PM
> Subject: Re: GRPR question
>
>
> Peter,
> The company is waiting on Solimar regarding the information we can
> disclose at this time.
> Regarding the status of the blunt nose study, I will try to confirm
> its status by Monday.
> Regards;
> IR
******************************************************************
Pete, I think it is about time now!
****************************************************************
Can't wait for these results!
These are the wells that will bring some Cash to GRPR!
District API# WellStatus LeaseName Well# OperatorName OpCode FieldName AreaName Section Township Range BM Latitude Longitude
5 01925514 N Kreyenhagen 8-33 Solimar Energy, LLC S4535 Kreyenhagen (ABD) Any Area 33 22S 16E MD 35.970244 -120.244625
5 01925515 N Kreyenhagen 7-33 Solimar Energy, LLC S4535 Kreyenhagen (ABD) Any Area 33 22S 16E MD 35.974620 -120.251017
5 01925516 N Kreyenhagen 2-33 Solimar Energy, LLC S4535 Kreyenhagen (ABD) Any Area 33 22S 16E MD 35.974538 -120.251964
*****************************************************************
Silver,
I am new compared to you and I am focusing on current prospects of the GRPR and don't want to dig past. I believe penny stocks are always a gamble and one should invest what one is willing to lose.
I am willing to ride it out no matter what the outcome is because I am convinced GRPR will survive in future.
My point is you seem to have done all DD in GRPR and you see more CONS than PROS? Is that correct assumption? If it is true why not try other stocks? I mean it well and not trying any violation here .
Peter
Exactly, what my point is!
Well, it is also possible GRPR might be working on a major deal and the A/S increase is gonna for a Restricted non dilutive Partnership or J/V. They can not share that kind of info on email. They did mentioned end of month conversion will be less dilutive. See below
previous IR reply
****************************************************************
> 7) What are the chances of dilution? Can you give some insight on share structure? Is reverse split on horizon?
The company has a Note coming due at the end of August which will dilute the stock further. The company is always raising capital however it is currently seeking to do so in a less dilutive fashion.
No reverse planned at this time.
****************************************************************
Good. Let's see what future brings in for GRPR.
So will I. GL!
It is a known fact for months. No need for panic.
Sethb, My whole point is ASHER notes were not happened overnight. It was there from long time. It is not that big of a concern when you think RISK vs REWARD and at current PPS one can always average down PPS. That's all.
Remaining Asher notes
Asher Note #12 : $47,500 matures Nov 25th, 2013
Asher Note #13 : $27,500 matures March 27th, 2014
This dilution is very small when you compare the assets vs debt.
GRPR is bound to go to multiple pennies in near future. Don't expect it to go there overnight. Patience is virtue here.
Nothing changed fundamentally since DTC chill was lifted. News will come when you least expect it. JMHO....
Lats time PR on Tuesday was at released 2:38 PM Eastern Time
http://finance.yahoo.com/news/grid-petroleum-enters-letter-intent-183800257.html
You never know!
Here you go
GRPR Investor Relations Email:
ir@gridpetroleum.com
I would like to see insiders buying the stock at these levels.
Thanks TGP! Seriously no reason for GRPR to sit at .0009. It is time to move north!
Can someone post recent share structure? Thanks!
News 10Q is out!
usually their pre-market PR is between 8:30 to 9:30
I have seen in other penny stocks once company is comfortable with the business prospects usually buyback or at least start investing their own money. I hope same will be the case for GRPR in near future.
Thanks you, MMM! I will be looking forward to see how IR answers your queries.
I hope tomorrow's PR gives good insight on drilling plans and timings. Good thing is they mentioned they will try for less dilutive options for end of month notes. Either way GRPR is a steal at this ridiculously low PPS or can I say it is a diamond in the rough? We will find out soon.
GM All! Can't wait for Monday morning PR! Meanwhile I am re-posting my IR email correspondence to all new-comers.
GRPR questions answered by IR. I sincerely thank the IR person for his/her dedication towards the common shareholder. I have never seen proactiveness like this in any other penny stocks. Please make sure when you ask the questions ask politely. He/She is very hard working and deserves to treated respectfully.
Here's answer to my 10 different questions I asked from IR person.
*****************************************************************************************************
Peter;
I will answer what can be answered at this time.
1) Status of Blunt nose study.
We are awaiting Grid's copies of the completed study. The company expects to receive it within a week.
> 2) Typical time-frame to get "operator license" in CA?
The process requires two parts which include the application( and subsequent approval) and then upon application approval the
application of a drilling permit to drill on one of the company leases.
> 3) Typical time-frame to start drilling Kreyenhagen?
That is subject to the operators permit and the approval of a
drilling permit by the state. ( 2 weeks to 2 months?)
> 4) Are Garcia #2 & Garcia #3 Well & SE Jonah still assets of the company?
Garcia #3 yes the company has an interest in however the company is
currently considering legal recourse against the Operator Progas and
Dan Polk for negligence.
> 5) When exactly shareholders can see new website reflecting the
> changes?
Currently in development. We are waiting for some developments that have not been announced yet to finalize and the site will be completed.
> 6) Are we planning to get "operator license" in Texas prospects also?
The company had a Texas operators permit, however it has been
suspended due to pollution violations by Progas and Dan Polk as
operator of the Garcia #3 well.The TRRC has held our operators permit up in order to enforce Dan Polks clean up of the settling pond on the Garcia #3.
> 7) What are the chances of dilution? Can you give some insight on share structure? Is reverse split on horizon?
The company has a Note coming due at the end of August which will
dilute the stock further.The company is always raising capital however it is currently seeking to do so in a less dilutive fashion.No reverse planned at this time.
> 8) Is company still open for JV partnership/mergers?
Yes and is current in discussions with potential partners.
> 9) Is there going to be shareholder's meeting any time in near future?
Not sure when, however there will be one announced relatively soon.
> 10) Could you please provide P10 valuation based on current assets?
> When can we expect next PR approximately?
We have to stand by the valuation given by the Auditors as reported in the latest 10 K
I hope that helps.
Regards;
IR
Quoting Peter Gates <Removed my personal email ID>:
> Ok. Please let me know.
>
> Thanks
> Peter
>
>
> ________________________________
> From: Investor Relations <ir@gridpetroleum.com>
> To: Peter Gates <Removed my personal email ID>
> Sent: Tuesday, August 13, 2013 8:10 PM
> Subject: Re: GRPR questions
>
>
>
> Peter;
> We have been away from the office today and will answer your
> questions in detail tomorrow.
> regards;
> IR
>
> Quoting Peter Gates <Removed my personal email ID>:
>
>> Hi,
>>
>> Could you please provide info. on following?
>>
>> 1) Status of Blunt nose study
>> 2) Typical time-frame to get "operator license" in CA?
>> 3) Typical time-frame to start drilling Kreyenhagen?
>> 4) Are Garcia #2 & Garcia #3 Well & SE Jonah still assets of the company?
>> 5) When exactly shareholders can see new website reflecting the
>> changes? I think this is very important because when I try to
>> spread the prospects of your company among my friends they say it
>> is very difficult for them to get information from the website. I
>> want to bring more investors to your company. Only possible if
>> there is clarity on the company's assets and prospects.
>> 6) Are we planning to get "operator license" in Texas prospects also?
>> 7) What are the chances of dilution? Can you give some insight on
>> share structure? Is reverse split on horizon?
>> 8) Is company still open for JV partnership/mergers?
>> 9) Is there going to be shareholder's meeting any time in near future?
>> 10) Could you please provide P10 valuation based on current assets?
>> When can we expect next PR approximately?
>>
>> Thanks in advance for your hard work and support.
>>
>> Regards
>> Peter
>>
>>
>>
>> ________________________________
>> From: Investor Relations <ir@gridpetroleum.com>
>> To: Peter Gates <Removed my personal email ID>
>> Sent: Friday, August 9, 2013 12:32 PM
>> Subject: Re: GRPR question
>>
>>
>> Peter,
>> The company is waiting on Solimar regarding the information we can
>> disclose at this time.
>> Regarding the status of the blunt nose study, I will try to confirm
>> its status by Monday.
>> Regards;
>> IR
>>
>>
>>
>> Quoting Peter Gates <Removed my personal email ID>:
>>
>>> Hi,
>>>
>>> On March 1, 2011 Six wells have been submitted to the State of
>>> California for permitting. Is Blunt Nose Lizard "study" done?
>>> When we can hear about plans to spud three exploratory wells?
>>>
>>> Thanks
>>> Peter
If this is true by any means we will close GREEN today.
Don't fall for MM mind games. Don't be a chicken little. Don't worry sky is NOT falling Expect following soon:
1) Company expects to receive Blunt nose study results within a week.
2) Approval of a drilling permit by the state anywhere between 2 weeks to 2 months
3) GRPR considering legal recourse against the Operator Progas and Dan Polk for negligence.
4) Wesite update is Currently in development
5) No reverse split planned at this time
6) GRPR is currently in discussions with potential partners
News is coming soon as early as Monday next week. Just Chill!! Take a break, turn off the computer. Go for a walk!
You are welcome JBD24! Let's hope for better days ahead for us with GRPR!
You are Welcome Coolcoins!
Thank You, Pete!
Thank You!
GRPR questions answered by IR. I sincerely thank the IR person for his/her dedication towards the common shareholder. I have never seen proactiveness like this in any other penny stocks. Please make sure when you ask the questions ask politely. He/She is very hard working and deserves to treated respectfully.
Here's answer to my 10 different questions I asked from IR person.
*****************************************************************************************************
Peter;
I will answer what can be answered at this time.
1) Status of Blunt nose study.
We are awaiting Grid's copies of the completed study. The company expects to receive it within a week.
> 2) Typical time-frame to get "operator license" in CA?
The process requires two parts which include the application( and subsequent approval) and then upon application approval the
application of a drilling permit to drill on one of the company leases.
> 3) Typical time-frame to start drilling Kreyenhagen?
That is subject to the operators permit and the approval of a
drilling permit by the state. ( 2 weeks to 2 months?)
> 4) Are Garcia #2 & Garcia #3 Well & SE Jonah still assets of the company?
Garcia #3 yes the company has an interest in however the company is
currently considering legal recourse against the Operator Progas and
Dan Polk for negligence.
> 5) When exactly shareholders can see new website reflecting the
> changes?
Currently in development. We are waiting for some developments that have not been announced yet to finalize and the site will be completed.
> 6) Are we planning to get "operator license" in Texas prospects also?
The company had a Texas operators permit, however it has been
suspended due to pollution violations by Progas and Dan Polk as
operator of the Garcia #3 well.The TRRC has held our operators permit up in order to enforce Dan Polks clean up of the settling pond on the Garcia #3.
> 7) What are the chances of dilution? Can you give some insight on share structure? Is reverse split on horizon?
The company has a Note coming due at the end of August which will
dilute the stock further.The company is always raising capital however it is currently seeking to do so in a less dilutive fashion.No reverse planned at this time.
> 8) Is company still open for JV partnership/mergers?
Yes and is current in discussions with potential partners.
> 9) Is there going to be shareholder's meeting any time in near future?
Not sure when, however there will be one announced relatively soon.
> 10) Could you please provide P10 valuation based on current assets?
> When can we expect next PR approximately?
We have to stand by the valuation given by the Auditors as reported in the latest 10 K
I hope that helps.
Regards;
IR
Quoting Peter Gates <Removed my personal email ID>:
> Ok. Please let me know.
>
> Thanks
> Peter
>
>
> ________________________________
> From: Investor Relations <ir@gridpetroleum.com>
> To: Peter Gates <Removed my personal email ID>
> Sent: Tuesday, August 13, 2013 8:10 PM
> Subject: Re: GRPR questions
>
>
>
> Peter;
> We have been away from the office today and will answer your
> questions in detail tomorrow.
> regards;
> IR
>
> Quoting Peter Gates <Removed my personal email ID>:
>
>> Hi,
>>
>> Could you please provide info. on following?
>>
>> 1) Status of Blunt nose study
>> 2) Typical time-frame to get "operator license" in CA?
>> 3) Typical time-frame to start drilling Kreyenhagen?
>> 4) Are Garcia #2 & Garcia #3 Well & SE Jonah still assets of the company?
>> 5) When exactly shareholders can see new website reflecting the
>> changes? I think this is very important because when I try to
>> spread the prospects of your company among my friends they say it
>> is very difficult for them to get information from the website. I
>> want to bring more investors to your company. Only possible if
>> there is clarity on the company's assets and prospects.
>> 6) Are we planning to get "operator license" in Texas prospects also?
>> 7) What are the chances of dilution? Can you give some insight on
>> share structure? Is reverse split on horizon?
>> 8) Is company still open for JV partnership/mergers?
>> 9) Is there going to be shareholder's meeting any time in near future?
>> 10) Could you please provide P10 valuation based on current assets?
>> When can we expect next PR approximately?
>>
>> Thanks in advance for your hard work and support.
>>
>> Regards
>> Peter
>>
>>
>>
>> ________________________________
>> From: Investor Relations <ir@gridpetroleum.com>
>> To: Peter Gates <Removed my personal email ID>
>> Sent: Friday, August 9, 2013 12:32 PM
>> Subject: Re: GRPR question
>>
>>
>> Peter,
>> The company is waiting on Solimar regarding the information we can
>> disclose at this time.
>> Regarding the status of the blunt nose study, I will try to confirm
>> its status by Monday.
>> Regards;
>> IR
>>
>>
>>
>> Quoting Peter Gates <Removed my personal email ID>:
>>
>>> Hi,
>>>
>>> On March 1, 2011 Six wells have been submitted to the State of
>>> California for permitting. Is Blunt Nose Lizard "study" done?
>>> When we can hear about plans to spud three exploratory wells?
>>>
>>> Thanks
>>> Peter
i hope flippers just sell now and move on. Only strong hands should survive going forward.
I request investors who believe in GRPR to ask questions to IR and post it here. This way we all will have idea where company is heading and what to expect in future. I will post my email feedback soon.