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did he emailed you PR will be next week ysung? just curious
Good One! Lol! Lol!
GM All! Hope no RED day today. GO GRPR!
For GRPR see if this means anything....
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=90827896
Grawsha,
I think company is mainly focusing on California assets now. Garcia #3 well and SE Jonah are no more a prospect for the company as described below. As per the IR guy they will be updating the website soon ("in few days" is what he/she told). please see the link below of my previous post.
************************************************************************************************************************************
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=90747518
Peter;
The company website is in the process of being updated and will be
have the most current information available in the next few days.
The difference between what you have see in the filings and what a is
displayed in other analysis of the companies assets is the method of
calculating net present value.
For the purpose of the filings the company's auditors use a P10
valuation for reserves, and OIL at $50.00 per barrel with a cost of
production at $45.00 per barrel.
This is to comply with SEC valuation rules and to provide an ultra
conservative valuation of the companies assets.
The company will be informing the investing public of its short and
long term goals in detail in the next few weeks, however the current
focus is the development of its California assets.
I hope that is of some help.
Regards
IR
************************************************************************************************************************************
Now from recent 10K I gathered following info. to see what GRPR's current assets and how many of them are ACTIVE and how many NON-ACTIVE.
1)
Joaquin Basin Resources, Inc. (WI 20%, NRI 14%) : COMPANY CURRENTLY WORKING ON IT AND POSSIBLE WE WILL HEAR SOME PR SOON
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.
2)
Jacalitos Prospect (WI 25%, NRI 14%): RECENT PURCHASE FUTURE PROSPECT
On July 31, 2013, Grid Petroleum Corp. entered into a Project Purchase Agreement (the "Purchase Agreement") with Xploration, Inc., a Nevada corporation ("Xploration") to acquire a twenty five percent (25%) working interest (WI) and a fourteen percent (14%) net royalty interest ("NRI") in five hundred sixteen (516) acres in the Coalinga California area identified as the Jacolitos Project. Xploration will keep a 2% NRI.
3)
Garcia #3 Well : NO MORE A PROSPECT
Due to our minority interest in the Garcia#3 well, we are reviewing operational alternatives to resolve our inability to control the development of this well and the field in general for any future drilling activities. The Company continues to evaluate leases available in the same area as the Premont Field, which may be available for the Company to lease directly from the mineral rights owners.
4)
SE Jonah Prospect: NO MORE A PROSPECT
The Companies working interest in the remaining SE Jonah Prospect leases was allowed to expire as the Company ’ s evaluation of the potential investment was conclusive in the following; the large dollars required to develop this field remained far greater than the possible revenue to be generated over an acceptable time frame. Primarily, based on the low selling price of natural gas, which is lower than the overall cost of production, and the lack of an infrastructure to allow full production of natural gas from an existing well. The time frame to develop the required infrastructure is based on the natural gas production to warrant a transportation company committing the funding to build it. Along with a low selling price for the product signifies that the money will not be spent to drill due to the lack of transportation and the transportation will not happed due to the lack of drilling.
***************************************************************************************************************************************************************************
Other Reasons to invest:
1) DTC Chill Removal
2) Communications to shareholders
3) Updating Website
4) No new Notes until November.
5) August Note was already Converted (Confirmed)
6) Book Value is 0.20 cents
7) Possible Partnership or J/V
8) Old valuation promo link (needs a revisit)
http://www.gridpetroleum.com/?page_id=488
I am still new to this. Those who been for long are welcome to correct this info. and STICKY if it is worth anything.
Hope this helps. GL!
Peter
Read this from latest 10K
SE Jonah Prospect
The Companies working interest in the remaining SE Jonah Prospect leases was allowed to expire as the Company ’ s evaluation of the potential investment was conclusive in the following; the large dollars required to develop this field remained far greater than the possible revenue to be generated over an acceptable time frame. Primarily, based on the low selling price of natural gas, which is lower than the overall cost of production, and the lack of an infrastructure to allow full production of natural gas from an existing well. The time frame to develop the required infrastructure is based on the natural gas production to warrant a transportation company committing the funding to build it. Along with a low selling price for the product signifies that the money will not be spent to drill due to the lack of transportation and the transportation will not happened due to the lack of drilling.
We should hear update on these wells pretty soon. GRPR will rocket!
GM All! Rise and Shine. Go GRPR!
Looks like news imminent!
What's up with hidden asks? I saw 500K going at 15 when it was still showing 10K. How can they even do something like that?
I envy people loaded under 14
Oh Well, I guess once this hits copper land people will envy me as well
It traded around $1.7 between year 2009 and 2010. imagine having even 10% of that PPS value.
http://ih.advfn.com/p.php?pid=webchart&btn=s_ok&ctl00%24sb3%24tbq1=Get+Quote&as_values_IH=&ctl00%24sb3%24stb1=Search+iHub&symbol=USOTC%3AGRPR&s_ok=Get+Chart&period=8&drawmode=0&size=19&volume=1
Great! Here's what I got from IR:
Peter;
The company website is in the process of being updated and will be
have the most current information available in the next few days.
The difference between what you have see in the filings and what a is
displayed in other analysis of the companies assets is the method of
calculating net present value.
For the purpose of the filings the company's auditors use a P10
valuation for reserves, and OIL at $50.00 per barrel with a cost of
production at $45.00 per barrel.
This is to comply with SEC valuation rules and to provide an ultra
conservative valuation of the companies assets.
The company will be informing the investing public of its short and
long term goals in detail in the next few weeks, however the current
focus is the development of its California assets.
I hope that is of some help.
Regards;
IR
Quoting Peter Gates:
> Hi,
>
> I am a new shareholder of your company. I am trying to get the
> latest information of company's current assets and projects in
> hand etc. via company's website.
> However when I compare the SEC filings with the website info. many
> things are seemed out of sync. Could you please provide a brief
> summary of the same?
> I would also like to know when exactly your company website going to
> be updated?
>
> Another thing is I came across this link from the website
>
> http://www.gridpetroleum.com/?page_id=488
>
>
> I believe they are old info as well. I see tremendous potential for
> shareholders in your company but I am not able to justify it based
> on the resources I have.
> I need help in understanding what are the company's short and long
> term goals etc.
>
> Thanks in advance!
>
> Peter
>
Exactly Doogdilinger! GRPR is proactive than ever before. Hope we get some exciting news soon.
I hate lizards. Blunt nose lizard is something I came to know while reading 10K. Hope we get some good news from GRPR as early as tomorrow. GL!
Thanks DeeDog!
Its about the rare species
http://esrp.csustan.edu/publications/pubhtml.php?doc=sjvrp&file=chapter02K00.html
Coolcoins,
Thanks for sharing the info.
I see you have been in this stock since year 2012. Could you please fill me in with following
1) Why GRPR got DTC chill?
2) what happened to Garcia#3? They were supposed to show production numbers of OIL somewhere in sept 2012? Are they still on to it?
3) What are their current assets?
Are we very close to major news now??
From earlier 10k,
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.
I am with you pal. I bought on High 20's as well. But gonna hold it for as long as I can. Nothing's changed business wise since it was trading at 29 or 14. They were able to get over DTC chill. It is way way oversold and undervalued. Let MMs take it to wherever they like, our time will come soon!
Or rather there has to be something inside the ground like OIL that worth a lot?
Honest answer from IR. Not a professional one but I still like it because there are so many sub-penny companies out there who don't even bother to reply any of questions from shareholders.
So I praise the IR for their prompt reply. I got a reply from him/her too and future looks bright. Patience is virtue here!
Book value= 0.20
Assettes = Over 7 mil
debt = around 1.5 mil
PPS = 0.0015 only.
nuff said I think!
Lucky You! I am happy for you
If you are still posting here means you haven't "moved on" dude! You are just trying to get in cheapies. That's you trading strategy. Admit it. TRUTH will set you free as well.
Thanks for your valuable input. Now can you sell and move on?
It is good to see Asher's debt is getting paid off. Reason for today's selling was Asher Note #11 due on August 6th
From SEC filings:
On November 2, 2012, the Company received funding pursuant to a convertible promissory note in the amount of $27,500. The promissory note is unsecured, bears interest at 8% per annum, and matures on August 6, 2013.
Next one is due on November 25
Asher Note #12
On February 25, 2013, the Company received funding pursuant to a convertible promissory note in the amount of $47,500. The promissory note is unsecured, bears interest at 8% per annum, and matures on November 25, 2013.
As per yahoo it is 0.19 and as per MSNBC it is 0.20.
I still find it hard to believe.
Thanks! Same here. GL!
GRPR at .0019 is way way oversold, IMHO.
From recent 10K, it seems we are very close next PR. Time will tell.
On May 23, 2012, we acquired a ten percent working interest, seven point five percent net revenue interest, from a third party interest holder of the Garcia #3 well (10.0 % WI, 7.5% NRI). For our interest, we paid $300,000 in convertible preferred shares with a conversion rate of .01 per share.
On November 21, 2011, Joaquin Basin entered into an amendment (the “ Amendment ” ) to its original Asset Transfer Agreement with Xploration, Inc., a Nevada corporation. Pursuant to the Asset Transfer Agreement, Xploration assigned Joaquin Basin a 50% working interest (37.5% net revenue interest) in mineral leases of approximately 4,000 acres in the Kreyenhagen Trend and Joaquin Basin assumed all of the liabilities associated with the leases.
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.
No, this is not the recent news. I believe this was before DTC chill, during year 2011-12. Many things changed since then except crude oil price which is still way above $100.
I am trying to figure out possible estimation of GRPR PPS in near future based on its current properties it is holding.
I am quite new to GRPR, still doing my DD from past 8ks and 10Ks. I have to see where it is going to lead me. GL!
I found this "breaking news" link on Grid's website.
What is changed since 2012? What items are still applicable?
http://www.gridpetroleum.com/?page_id=488
BREAKING NEWS!
Grid Petroleum Estimated 41,000,000 Barrels Oil in Place
At $100/barrel that's $4.1 Billion!
Using a P10 valuation of the Oil in Place reserve calculation and assuming a recovery rate of 10% indicating the volume of recoverable oil at an estimated 4,100,000 Barrels of Oil. Using a conservative value for oil at $100.00 USD per barrel and a cost of production at a very conservative $45.00 USD per barrel of oil providing for a valuation of the Companies Interest of the Kreyenhagen trend lease at $225,500,000.00 as determined by the companies geologists.
Grid Petroleum Corp.'s (GRPR.OB) SE Jonah Field prospect sits in the second largest natural gas producing shale zones on the continental United States.
The historic success rate for drilling in the area is 97.9%.
A conservative set of assumptions applied with a healthy risk discount using the Rimini Projected Price Per Share Estimate method yielded and estimated price per share for
Grid Petroleum (GRPR.OB) at $1.77.
GM Smitter!
Thanks for sharing that email. Very rare to see prompt replies from sub-penny OTC companies. Its a wonderful news.
GRPR gonna break all records in coming days/weeks!!! We sure have a winner here!!!
Actually no it is not bad when a company increases authorized shares.They use the authorized shares as a protection measure from any change of control of ownership, in addition they can also use their authorized shares to acquire other companies rather than using their cash (of which they have in excess of 2 billion) they can use stock for stock transaction and actually increase wealth to the company of which increases wealth to your share.
Great news for GRPR! Thanks for sharing!
I saw that post before, thank you. Times change and so is the propects of company. Year 2011-2012 whatever company did is not applicable now. Look at the price also. It is at sub-penny level. Time to move UP!
Absolutely. MMs smell it from very long distance
It should have been trading over a penny. Potential is really huge here. I expect big PR next week. Very Rare opportunity in sub penny.
Thank you, Smitter! GL to you!
Great news. Where did you find book price .12?