GRPR questions answered by IR. I sincerely thank the IR person for his/her dedication towards the common shareholder. I have never seen proactiveness like this in any other penny stocks. Please make sure when you ask the questions ask politely. He/She is very hard working and deserves to treated respectfully.
Here's answer to my 10 different questions I asked from IR person.
*****************************************************************************************************
Peter;
I will answer what can be answered at this time.
1) Status of Blunt nose study.
We are awaiting Grid's copies of the completed study. The company expects to receive it within a week.
> 2) Typical time-frame to get "operator license" in CA?
The process requires two parts which include the application( and subsequent approval) and then upon application approval the
application of a drilling permit to drill on one of the company leases.
> 3) Typical time-frame to start drilling Kreyenhagen?
That is subject to the operators permit and the approval of a
drilling permit by the state. ( 2 weeks to 2 months?)
> 4) Are Garcia #2 & Garcia #3 Well & SE Jonah still assets of the company?
Garcia #3 yes the company has an interest in however the company is
currently considering legal recourse against the Operator Progas and
Dan Polk for negligence.
> 5) When exactly shareholders can see new website reflecting the
> changes?
Currently in development. We are waiting for some developments that have not been announced yet to finalize and the site will be completed.
> 6) Are we planning to get "operator license" in Texas prospects also?
The company had a Texas operators permit, however it has been
suspended due to pollution violations by Progas and Dan Polk as
operator of the Garcia #3 well.The TRRC has held our operators permit up in order to enforce Dan Polks clean up of the settling pond on the Garcia #3.
> 7) What are the chances of dilution? Can you give some insight on share structure? Is reverse split on horizon?
The company has a Note coming due at the end of August which will
dilute the stock further.The company is always raising capital however it is currently seeking to do so in a less dilutive fashion.No reverse planned at this time.
> 8) Is company still open for JV partnership/mergers?
Yes and is current in discussions with potential partners.
> 9) Is there going to be shareholder's meeting any time in near future?
Not sure when, however there will be one announced relatively soon.
> 10) Could you please provide P10 valuation based on current assets?
> When can we expect next PR approximately?
We have to stand by the valuation given by the Auditors as reported in the latest 10 K
I hope that helps.
Regards;
IR
Quoting Peter Gates <Removed my personal email ID>:
> Ok. Please let me know.
>
> Thanks
> Peter
>
>
> ________________________________
> From: Investor Relations <ir@gridpetroleum.com>
> To: Peter Gates <Removed my personal email ID>
> Sent: Tuesday, August 13, 2013 8:10 PM
> Subject: Re: GRPR questions
>
>
>
> Peter;
> We have been away from the office today and will answer your
> questions in detail tomorrow.
> regards;
> IR
>
> Quoting Peter Gates <Removed my personal email ID>:
>
>> Hi,
>>
>> Could you please provide info. on following?
>>
>> 1) Status of Blunt nose study
>> 2) Typical time-frame to get "operator license" in CA?
>> 3) Typical time-frame to start drilling Kreyenhagen?
>> 4) Are Garcia #2 & Garcia #3 Well & SE Jonah still assets of the company?
>> 5) When exactly shareholders can see new website reflecting the
>> changes? I think this is very important because when I try to
>> spread the prospects of your company among my friends they say it
>> is very difficult for them to get information from the website. I
>> want to bring more investors to your company. Only possible if
>> there is clarity on the company's assets and prospects.
>> 6) Are we planning to get "operator license" in Texas prospects also?
>> 7) What are the chances of dilution? Can you give some insight on
>> share structure? Is reverse split on horizon?
>> 8) Is company still open for JV partnership/mergers?
>> 9) Is there going to be shareholder's meeting any time in near future?
>> 10) Could you please provide P10 valuation based on current assets?
>> When can we expect next PR approximately?
>>
>> Thanks in advance for your hard work and support.
>>
>> Regards
>> Peter
>>
>>
>>
>> ________________________________
>> From: Investor Relations <ir@gridpetroleum.com>
>> To: Peter Gates <Removed my personal email ID>
>> Sent: Friday, August 9, 2013 12:32 PM
>> Subject: Re: GRPR question
>>
>>
>> Peter,
>> The company is waiting on Solimar regarding the information we can
>> disclose at this time.
>> Regarding the status of the blunt nose study, I will try to confirm
>> its status by Monday.
>> Regards;
>> IR
>>
>>
>>
>> Quoting Peter Gates <Removed my personal email ID>:
>>
>>> Hi,
>>>
>>> On March 1, 2011 Six wells have been submitted to the State of
>>> California for permitting. Is Blunt Nose Lizard "study" done?
>>> When we can hear about plans to spud three exploratory wells?
>>>
>>> Thanks
>>> Peter
