"Float" is probably 60m shares - and about 6m has been taken out at very low prices over the past month
There haven't been any sellers in volume for the past week
The question is are the recent buyers going to try to flip it at a triple, or are they going to hold and look for 20x returns
The major natural gas field starts flowing in August
Shemen drills into the oil layer TD in August
GGLR doesn't have a pretty balance sheet at the moment, they know that regulators could use it at an excuse to take actions, so they are not going to file anything until either: $16m Cambay transaction closes, or, Myra/Sarah Phase 2 cash comes in, which is dependent on Shemen oil find, or, the recent buyers figure they get the float locked up, hit the share count they are happy with, and give GGLR a big loan to settle the current outstanding cash calls and make a big investment in KG-onshore ...
In the mean time GGLR has cut to the bone and is cash flow positive from Tarapur revenues
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