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Hes been saying that for awhile
sure is not alot of revenue if they have 23 wells producing
I second that!! I haven't made up my mind how long I plan on holding this but as long as Ron continues to run things the way they are and things fall into place such as a sustained oil price at least 70 to 80, great production numbers, and revenue increases yearly, I could see this a good long term. All that needs to happen is increased working interests in future wells and nice production
Hope your right
I agree, and It was pure luck I was able to get mu shares at those prices but fracing news and the other 3 wells its probably wise to grab them now
Going to try to get more ASAP
I believe China is still getting oil from Iran,so yes there will be ways around this
Yup, nice share structure and low float. !00 barrels a day at current oil prices should make this at least a dime IMO. Hopefully they can get production numbers like that.
Thank you for the response. I ran into this stock a couple days ago but haven't been able to do my DD yet. Been too busy. So far it seems way too undervalued
Does anyone know if this company actually produces from their wells? If so the PPS should be a hell of alot higher. Thanks in adavnce
I would happen to agree. GR@@ is my least favorite oil play as well. All I've seen so far is a bunch of dilution, which I would be okay with if I thought it would benefit the shareholders. Their problem was trying to acquire massive plays in Wyoming and California that are too uneconomical to develop, creating more debt and adding dilution.
2 leases in the Jonah Field. It was in the 10K
If drilling doesn't take place soon, more and more dilution will take place. The share structure is okay now but Im worried about what it will look like if nothing happens
My money would be here rather then GR-R if they were current on their filings but that is just my choice and Im not here to compare or argue. Even I am seeing more red flags in GR-R consistently. Im just making the point from the earlier posts that the big oil companies aren't interested in buying out the little guys period. They have the resources to wait until the little guys like SIOR and GR-R can't make lease payments. There were some people in the other board getting excited over Linn energy buying the interests in the Jonah field that BP owned. Too many cheerleaders who don't know what really moves an oil and gas stock period
Higher risk means higher reward, and I like a few high risk high reward stocks. I just get tired of some of the cheerleaders over there. I get tired of hearing crap that will not benefit us unless the drill rig is doing the job. Yes I see no filing as a red flag and is why I have my money in the other stock than this one.
I like the point you brought up about GR-R and the leases they lost. Alot of people on that board were so excited when Linn bought BPs holdings in the Jonah field and for what? GR-R isn't going to benefit from a buyer. The big oil and Gas players will wait it out till the smaller companies can no longer hold their leases
The share structure has remained almost constant for 2 years with hardly any dilution. I think Ron was being honest when he said he wouldn't manipulate the share structure. He has had 2 years to completely dilute it, But his actions over 2 years have shown otherwise. Almost every other pinksheet you see in 2 years is major dilution and dishonest CEOs who don't care at all about the shareholders
One of the things that caught my attention first was how such little dilution happened within a 2 year period. Im okay with a little dilution if it will make the company more profitable, thus benefiting not only the company but its shareholders
Im not buying anymore higher than 6 cents. If I cant get more funds soon I may have to be happy with My 40k shares
I talked to RON right before I bought my shares. My only 2 concerns were
1. That eventually they would increase there interests percentages im future oil wells and
2. That there would remain to be little dilution, which we usually see major dilution in pinksheets
He assurred me that as revenue increases the company would increases its interest holdings in future oil well acquisitions and that he didn't believe in manipulating a stocks share structure through PUMP AND DUMPS and DILUTION.
This will only help us when we are drilling
I understand that. I am hoping to buy more shares at these prices, which are not going to be here soon but I may not get the chance. I am willing to pay 5 cents though but after that, I am just going to ride what I have. I may have to be happy with my 40k shares though. By the way, are you holding this long term or do you see this as a trade? Just curious, because with the way things are going now, I am confident holding this long term
I hope your right DEE. This thing ran to almost 4 cents on ANTICIPATION alone back in March, which would have been the original drilling timeline. I feel we may see a run between 5 and 8 cents on an actual drilling update. It may go a bit higher give or take the volume and the fact the float is still low. I think other people on this board also forget that things in California are in motion right now and drilling should begin end of year. Even with the Texas delay I feel it is way too early to panic and sell.
Oil rising will only be beneficial to grpr when drilling is taking place. High oil prices do us no good at the moment. Im holding strong here but if they don't get the drill rig on site and drill the Garcia soon, we wont hold at one penny much longer. We've been on a downtrend since March. However, if the rig gets there soon and we get a drilling pr, I think this will have a good run.
I second that, especially if they acquire other oil interests after the fracking and the other 3 wells that will be developed. If you combine a strong oil rebound, 50 cents seems very realistic. Im glad I got my shares when I could because I may not be able to get anymore before take off.
I believe after the fracking and the other 3 wells, we could test 20 to 30 cents. After people then flip their shares, it settles to maybe 12 to 15 as a new base. Personally, with the management this has, I don't see any problem holding long term. This company should be the textbook company for ALL STARTOFF OIL AND GAS COMPANIES.
They are using shares to fund operations until they get revenue, which is causing dilution. We went from 168 million to 223 million outstanding and if drilling doesn't take place in Texas soon, we are going to see more dilution. No revenue coming in means they have to tap into the share structure just to continue day to day operations
I admit I am a little concerned too. It has now been 3 months and drilling has not started. If there is no drilling or production soon, we will see more dilution. This batch of dilution was necessary to get the interest on the first well
I wonder what the PPS will be after the fracking as well as the other 3 wells. Combine that with oil hopefully rebounding 2013 and the fact this is extremely low float
223 million outstanding, could be worse, If the drilling doesn't take place soon though, more dilution and then the red flags come up
sorry I dont have PM DEE but you could be right about that, not sure though
Thanks DEE.
Even though we haven't heard from SE and WCD in awhile, Im sure they are accumulating this when they can
The drill bit has to do the work first before this is doing to make any quantum jump.
While I am still bullish on GRPR if they get moving soon, Here is a friendly reminder of a quote from SCREAMING EAGLE POST 5010
"Good news to me is the drill bit going into the ground and finding oil and gas in commercial quanities. What I saw from the company is PR's announcing plans. Plans don't make revenue, oil and gas production does. Please take a look at a couple of my other plays so you can understand what I'm saying.. AOIFF, OEDV,TAOIF... Notice the response to drilling and then true appreciation of price upon a discovery.. Nothing happens until discovery and production starts. I've stated that over and over again. While yesterdays news was nice, plese tell me why applications for drilling permits (that could and are known to take months for approval in Cali) and a announcement of a enviromental impact study should move price? They (the PR's) provide no value to the balance sheet.
I hope this clears up the confusion you have on this subject. Sometimes I don't spell things out completey and the novice investor does not understand the point I'm driving at. Being a former oil company executive, I fully understand what it takes to move price. 1) Positve drilling results 2) The gereration of revenue in excess of expenses. 3) The proving up of reserves behind the pipe. 4) The ability to repeat the process on a regular basis."
Until we hear that the first well has been spudded and we find oil in large commercial quantities, this isn't going to run.
Nice end of day jump
Im glad I got my 40k shares yesterday. Id get more at 5 cents though. Once they get the other 3 wells done, these prices will be gone for good. If the company keeps moving like this, im curious to see what next year will bring. Im sure their interest percentages will be even high, meaning greater revenue. I don't want to get carried away with a dollar a share talk, but this is such a low floater, oil will most likely rebound strong late 2012 into 2013, increased revenue, we at least will see a beautiful PPS
Fracking around the corner, hopefully I can get some more shares before news gets out
However Ive been checking the TRRC website. Still new at it and its a little confusing. The only thing I can find on the Garcia 3 well is the permit so I am assuming nothing has started yet
looking at the website, it seems as if the drill rig is in place,I had contacted Dan Polk at Progas about the drill rig delay. I didnt get an answer because I think he considered it insider trading, I should call Grids Operator, but I may get the same response
As long as we don't go well over 200 million shares and the drilling starts then, this will be okay. I have patience but if this gets too diluted before the revenue comes it will be harder for the PPS to rise