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LOL this made me laugh. I like to check in periodically to see what you are all arguing about in here. Chuckled when I read this.
.0055 bid / .0056 ask is scary low… there was quite a bit of language talking about the Biden administration and restricting drilling in the recent filings. If there is a red wave during the midterms, are there any political analysts in here who can give us an idea of what power congress would have regarding opening up more drilling? We know what the Biden administration’s stance is… but will congress be able to loosen that grip at all if voters show up in November looking for more energy independence amongst other things?
Reverse split up to 1 for 200 means that they can get back to $1 per share if we are trading at or above half a cent…which I’m guessing they think is our floor. Would be nice if this wasn’t a Penny stock on the pink sheets. If and when some actual progress is made drilling it will boost the stock much quicker having no trading limitations.
The ability to add 100% more shares eliminates a hostile stock takeover since someone will not be able to go out and purchase a majority of open shares in the marketplace and take it over. If someone did, they could release the other 1.5 billion shares to prevent it from happening. May show that leadership knows that the current company is undervalued and they don’t want someone taking it over on the cheap. Now it’s impossible and eliminates the concern. Doesn’t mean they will issue them since there are currently unissued shares right now.
Looks like they are preparing for the Annual Board of Directors Meeting and a reverse stock split is inevitable along with the potential issuance of another 1.5 Billion shares in order to prevent GSPE from being a takeover target.
Those were my main takeaways
The fact they still take the time to file 10-Q’s makes me think this is not game over just yet. If it was over they wouldn’t bother since it is no longer a requirement of trading on the pink sheets. This old dog just might have some fight left in her and may even be able to learn a new trick.
I feel like they will start to drop oil prices / gas prices as the midterm elections get closer…but we may be a bit away from that drop still since we are almost 3 months away from Election Day. Would be phenomenal to get some news on the 10Q to surprise us in a good way. Fingers crossed!
No but other oil & gas exploration companies in the same area of the GOM who are actually producing oil and nat gas are absolutely killing it right now.
I’ve mentioned WTI on here before as a small affordable GOM play as well. They have earnings tonight and are up 24% right now already before ER. GSPE up 10% at the moment on 105k shares traded. Hoping positive industry reporting rising tides will slowly rise all GOM ships including convincing someone to get the drill tapped for GSPE. GOOD LUCK EVERYBODY
I’ve been doing pretty good daytrading SPX each day and I’ve actually thought about putting like $80 per day into that 10,000 share ask to see what happens. My guess is Citadel will just load another 10k shares at that level the next day but I’m in lockstep with you on that Spec
Volume still so low at 29,500… but it sure looks nice in the old Etrade account balance when GSPE is up 11.84% on the day lol
Let us know if you find anything!
There has been some good ask slapping today!!! Volume is low but bid/ask moving in the right direction. Is there a chance we are on the verge of some news?!?!?!
In the drilling projections for tau 2, how heavy were natural gas potential resources vs oil potential resources? Natural gas prices are surging which would make drilling tau 2 even more profitable if its weighted at all.
Always appreciated your posts MktMvn. Thank you for your contributions!
One question: are you giving up hope just based on the fact that so much time has went with no updates or are you under the impression that management has officially threw in the towel and there is no real hope or a drilling campaign that we are all holding our breath for?
In either case, best of luck to you!
One word: “liquidity” as in 2 words “cash flow,” as in 3 words money to “fund tau 2?!?!?!”
Picked up more shares at .006 because I can’t help myself. Ughhhh
Great points
.006 is getting into real scary levels even though volume is low. Need a PR update with some positive news before it’s too late.
Appreciate the golf tips Spec! How amazing would it be to get some news out of nowhere when everyone least expects it?! Crossing my fingers but not holding my breath.
Golf is stressful! That’s why I drink heavily whenever I golf
LOL I have a dirt cheap bid in right now. Hoping for some lucky numbers as well!
In unison: “hi Smith199”
I’ve done a lot of that over the years. At this point I own more than I probably should and more than I care to admit. Hopefully it pays off someday!
“Nothing to see here folks” (chief wiggum)
The bid/ask at .0061/.0063 is making me nauseous… ughhhhh
How many weeks per year are you on vacation? Lol
So you’re telling me there’s a chance…
Spot on @Bowsaw
Yeah big blow to the EPA here right?
Well at these prices you need 3 shares just to get enough change to make it jiggle lol
I bought some cheap shares this am. Hopefully it was a sharp pickup not chasing losses like a midnight drunken blackjack stoooper digging into the pockets chasing losses lol
Thanks for sharing Uncle RH!
Anyone see the volume of 1 share traded? LOL. ONE SHARE.
Well my hunches came true and oil stock prices have came down to earth just in time for market makers to get out of their option hedges today at opex. Watch for oil prices to rebound with the new contracts in place and more room for them to run up.
If GSPE can produce ANY correspondence on potential campaigns having life this stock should soar to catch up to the rest of the industry. Just need SOMETHING to work with.
GLTA and Happy Father’s Day to the dads out there.
While it doesn’t completely impact GSPE, I do think the market makers are playing games with XOM and other O&G producers that are WAY UP lately since they don’t want to pay out on the huge options gains those who guessed right in the last month will get with the monthly options expiration this Friday. Not surprised to see stocks that are WAY UP come back to earth during monthly OPEX like we see Friday. Expect the run up to continue after they get out of these hedges this week.
So NN is gone? LOL
Some nice jams
Long time since Ive been in here. NN still around? Hope all is well everybody.
The external factors have aligned. Now we need the internal team to act. Let’s go Mr. Seitz!