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shoot, let the seller sell some more shares, Id love to get some more shares before we get the fracking results soon!!!
that sounds realistic to me. Also I like that as more revenue comes in, Ron says the company will increase its interest percentage in future projects. I think next year we should be extremely pleased. Im hoping to add more before it hits 8 to 10 but I might be too late.
Just because they bought from BP doesn't mean they are going to buy GRPRs leases in the Jonah Prospects. This isn't going to run until the drill bit gets working. Hopefully things move soon before we see another round of dilution. If we don't get revenue soon, our outstanding share count is going to increase.
Yes sir, I am totally honest about my age. Most people my age are not even considering investing/trading, so you could say I am a bit odd, LOL. I figure the time to take the risks is while Im still young
Trust me, I would rather see the percentages as you put them sir. 70 percent at 100000 to 200000 barrels reserve per well and these should be high producers. Even 10 percent at 20000000 barrels gives them 2000000 barrels. My only concern now with this is to actually see things are moving. I have to remind myself that the delay was actually a blessing for all of us, seeing as we had 0 percent in the first well.
I dont think they will be able to go that high because there are many Joint venture pertners involved but I would love to see those percentages
You are welcome DEE.
I think I was todays volume. I am trying to get the word out on this one. I emailed Ron this weekend because one of my only concerns was the low working interests per well that they had. Rons answer to this was that in the future, they would purchase larger working interests as more revenue came in.
Apparently he wants to build a solid asset base for the company. Its rare to see an honest Pink Sheet CEO
However I believe they will be able to increase their working interest. If I am not mistaken they have 10 percent working interest in the Texas Joint Venture, which is 20 wells and there is spacing for 100 additional wells. Only 10 percent is still a good deal with the reserves in place but I hope they increase eventually to maybe 15 to 20 percent per well after the initial 20 wells are drilled.
These prices will definitely be gone soon and those who hold these will be rewarded in the long run IMO
IM IN OFFICIALLY!!!
Great points Geopressure. I saw another small cap NSRS that had update after update and they even posted a film of drilling a natural gas well and behold, a PUMP AND DUMP. I think overdoing the communication is bad but so is no communication
That damn drill rig LOL
Shares outstanding is about 168 million/ Current float is about 129 million. Easy to look up, Just look at their SEC filings
Yeah I Do LMAO
I see myself as more of an investor anyway rather than a trader. Especially looking at this company, this is better to look at as long term. What actually shocked me the most is that the share structure barely changed at all in almost 2 years. Most pinksheets dilute the hell out of stocks within first or second year. And the CEO seems honest and is trying to build a solid oil company. I plan on accumulating when I can.
Thanks Dee, I would have responded to you earlier but had to head to work. And yes I am a Country boy too sir, you were correct! I was lucky to run into this stock, did my DD and this definitely seems like a winner, even though I have to admit, Im a newbie at investing ( DONT TELL ANYONE) LOL Money cleared this afternoon in my brokerage so ILL be ready Monday
What I like also about this little company is hardly any Dilution has taken place. I hoe as they build though that they increase their working interest percentages in future prospects but they are on the right track.IMO
Besides, this also seems slow and steady, which in the longrun will be better for all of us. GOOD LUCK
Also oil has taken a nosedive, but once it rebounds, so will this
Been watching this for a bit and am coming in Monday. This looks like a future winner and the price is perfect
Ill be in this when trading starts, A good entry point,IMO
Oil is not looking so hot at the moment, but it is mainly because of Europe. Once things settle, Oil should come back to 90 range maybe higher. And if the economy seems to deteriorate anymore, QE3, which will be bad in the long run but good for investors in commodities. Also talks in Iran were disastrous, no settlements reached. Hopefully by Q4 we notice some extreme movements in this little company as well as a strong oil rebound.
SE did not offer to buy EGOH. He offered to help Wilmot get things moving because apparently he has experience in oil and gas industry and joint ventures. If you read SE earlier posts he even posts how upset he is with wilmot and all the dilution that was being created in the time he had been a shareholder. SE and WC are not the manipulators, it is wilmot
I think our rig should be committed after this delay to the wells in which GRPR has interest in , so this may be the only major delay hopefully
IM not blaming GRPR entirely. They did not cause this delay, But You are 1000% correct my friend. Look where we are. JUNE and no drilling. They need the revenue from Texas. The wells are cheap and easy to drill and would provide quicker revenue then the California wells. Im holding this stock but I have posted a few times before that 2012 is the make or break year with this company and if things dont start moving, alot of people are going to be angry. It does not matter how much oil a company sits on if they cant get it out of the ground. I still have alot of hopes that if things get rolling the PPS should look nice. Im still in the long term. This is not a trade for me.
That is why Im taking the chance. They have good prospects and a CEO who can get production going and turn things around. Things may be looking real good for all of us soon
bought a small position today and moving funds to for a bigger position. If production takes place we are going to be very happy. Good entry point IMO.
Sorry my friend, but rally time will not happen until the drill rig is on site and the drill bit has actually hit the earth. While I understand this delay was actually a good thing as we had 0 interest originally and now we 10 % working interest and 7% net revenue, I also hope we don't have these similar delays. The drilling permit was approved march 26. Today is June 18, Almost 3 months. Im still long and strong but hopefully things are smoother from here on out in TEXAS.
Alright.... IM in Hopefully this new CEO can turn this into a Producing machine... Time will tell
GRPR will be allowed to increase their percentages per well in the future, but they firs need some revenue. 10 percent is a small risk they are taking and with each successful well they have the choice to increase their working interest. Even if they keep it at 10 percent, that leaves 2 million barrels for GRPR. At a conservative 70 dollars a barrel that is 140 million to GRPR. Oil should fluctuate between 70 and 100. These are not bad numbers with only 10 percent. I agree though with eventually seeing better percentage bases per well.
If things get moving at least in the next month, where do you see the price? I see 15 to 25 cents with 2 to 3 wells with good production results and if oil rebounds, what do you think? If you dont mind me asking
I would love for news to be tomorrow, but Im not getting my hopes up
Iran resumes talks tomorrow over their controversial nuclear program. Something to pay attention to........
I think if they get the ball rolling and can get 2 to 3 good wells with good production numbers and oil holds, Im seeing at least 15 to 25 cents this year. Im not even taking into consideration our California Play that our company is fully carried. Hopefully there is some action October or November. Im interested in what this will look like when 10 to twelve wells in Texas are completed and hopefully producing good commercial quantities of oil.
Yeah I know. Besides, they submitted the permit March 13 and it got approved March 26, which was only 13 days, even with the mistake. People were complaining then even when they said the permit could take 15 days. I just hope the drill rig gets there soon, or it is there and they announce it.
They've got to get the drill rig there first my friend. Apparently finding their way north may be the problem. LOL Sorry everyone, I still find the north thing hilarious
COUNT ON IT
with the CEO this company has it may not see a penny. Hes screwed everything up so far
I believe that the drill rig should be committed to the next couple wells in the JOINT VENTURE which concern GRPR. As long as people dont keep bailing out, the ball will get rolling. I agree we don't need anymore 3 month delays. If this happens between every well, this company may not be taken seriously. The delay was actually a good thing for us because we were not getting any percentage of the first well, so Im okay with this one. I just hope they hit black gold so the wait was worth it. I still see this as a great high risk/high reward investment and Im sticking this one out
Should we get them a GPS so they can find there way? LOL
If oil starts to rebound and the first well has good production numbers, we could see a 10 to 20 cent run and it may hold at 10, building a base for the other wells. I think with just the drilling we could see at least 5 cents but most will trade then. Im sticking this out for a longer term because I think oil will rebound. I think the economy is going to pick up the second half and with oil low now, gas is low. This may entice consumers to spend more and eventually demand for oil will outpace supply IMO