I too have been a shareholder for some time (though not as long as 2005) and I've been trying to average down over the months that the share price dropped. There's a fellow over on the Yahoo message boards who is going out of his way to scare folks from investing in GLRP. On the surface, that's completely understandable, given the circumstances. But it seemed suspicious, coming from a source who claimed to not be a shareholder, yet seemed unusually fired up about GLRP.
He claimed to be an engineer who had worked on the Wardlaw field before and had personal gripes about the previous CEO (who had resigned several years ago). He says that the company had made several engineering blunders on the Wardlaw field, and totally botched things up. When I pressed him further, he claimed that it would take about 18 months to correct.
Given the company's silence over the past year, as well as the press release in 2010 indicating that they believe that there are several million recoverable barrels of oil in the Wardlaw field, as well as insiders acquiring additional shares during the summer months, I figured there was a chance that something could be brewing.
However, it seems that Lenny (the bum in Manhattan who has touted this stock in the past) is actually pumping this one again, so who knows...
