GGR: GeoGlobal Resources Inc [was GEOG was BOWG] (2000 + )

» Kirk - Re: Big move today

Big News today...

http://biz.yahoo.com/prnews/030813/phw00...

Suite101.com, Inc. Announces Indian Government Consent Obtained For GeoGlobal Acquisition Completion

Wednesday August 13, 11:15 am ET

TORONTO, Aug. 13 /PRNewswire-FirstCall/ -- Suite101.com, Inc. (OTC Bulletin Board: BOWG - News) announced today that GeoGlobal Resources (India) Inc. (GeoGlobal) has received the necessary consent from the Government of India to proceed with the acquisition by Suite101.com, Inc. (the "Company") of all the outstanding capital stock of GeoGlobal.
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On April 4, 2003, the Company announced that it had entered into an agreement to acquire all the outstanding capital stock of GeoGlobal, subject, among other things, to GeoGlobal receiving the consent to the transaction from the Government of India. The Company anticipates that the remaining closing conditions, which include primarily the delivery of closing certificates and the continued accuracy as of the closing date of the parties' representations and warranties, will be met and the transaction completed shortly.

GeoGlobal holds a net 5% carried interest in the oil and gas exploration block KG-OSN-2001/03, also referred to as Block 7 under National Exploration Licensing Policy III (NELP III), offshore the east coast of India covering approximately 457,000 acres. GeoGlobal's interest will be carried for 100% of its entire share of any costs during the exploration phase prior to the start date of initial commercial production.

As was described in the Company's April 4, 2003 press release, the shares of GeoGlobal are to be acquired from Mr. Jean Paul Roy in exchange for shares of the Company's common stock and a promissory note.

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-A two yr cup! Not sure this is valid... but you can see the promoters have kept this at a buck before between two nice runs to $9 and $11. Can they do it again?

<img src=http://cbs.marketwatch.com/charts/int-ad... width=452 height=570>

REMEMBER: This is not advice to buy or sell. I am just "talking about it" as I don't want to be held accountable for anyone's gambling. Overall, you should manage your total portfolio on an asset allocation basis, often with the aid of an investment professional. Within an asset allocation, I find it rewarding and fun to have 1 to 5% in "speculation" where using TA on experiments is a reasonable choice. In my newsletter portfolio, which I recommend for perhaps 5 to 20% of an equity allocation for the top of your investment risk pyramid, I manage many investments like this where I use some TA to try to get better prices to buy and sell.

-- posted by Kirk

» Hugs - Re: Re: Re: This thing sounds like a scam, if I ever heard of on

You know, it's a really big opportunity to sell today. Top of the range, double peaked at a buck and half, big resistance on the upside... what is everyone waiting for? Where are the sellers? Isn't somebody going to step in and clobber this flying pig?

-- posted by Hugs

» Kirk - Re: WHere are the sellers?

You know, it's a really big opportunity to sell today. Top of the range, double peaked at a buck and half, big resistance on the upside... what is everyone waiting for? Where are the sellers? Isn't somebody going to step in and clobber this flying pig?

I actually sold some earlier in the year at $1.59 & $1.60 so $1.50 is still a bit below the peak. I do have remorse I didn't buy a few back at the buck area where I commented it had good support. Oh well, I have plenty anyway.

Strange the stock went up just after the number of shares outstanding went up.

<img src= http://cbs.marketwatch.com/charts/int-ad... width=452 height=570>

<img src=http://cbs.marketwatch.com/charts/int-ad... width=452 height=570>

REMEMBER: This is not advice to buy or sell. I am just "talking about it" as I don't want to be held accountable for anyone's gambling. Overall, you should manage your total portfolio on an asset allocation basis, often with the aid of an investment professional. Within an asset allocation, I find it rewarding and fun to have 1 to 5% in "speculation" where using TA on experiments is a reasonable choice. In my newsletter portfolio, which I recommend for perhaps 5 to 20% of an equity allocation for the top of your investment risk pyramid, I manage many investments like this where I use some TA to try to get better prices to buy and sell.

-- posted by Kirk

» Kirk - Burrrrrrrr

Hugs, are you hoping for a cold winter?

I am.

  Date       Kirk    S&P500   Delta
2003 YTD    +49.6%   18.1%    31.5% as of 9/4/2003
 

                                Kirk   S&P500+  NASDAQ 
4.5+ Yrs 12/31/98 to 09/02/03  129.4%  (10.8%) (14.7%)
Annualized Annual Return        19.4%  ( 2.4%) ( 3.4%)
 
+with dividends reinvested. All Numbers unaudited. 
Click for a free issue of my newsletter .

-- posted by Kirk

» Hugs - Re: Burrrrrrrr

Are you hoping for a cold winter?

Doesn't matter all that much too me, actually. But I am wondering what might result if they end up pricking some gigantic, big ole pocket of gas stuck in the bowels of the earth over in that corner of the world next winter... A twenty or thirty year long fart?

-- posted by Hugs

» Kirk - Recent Developments Relating To The India Exploration Block

Press Release Source: Suite101.com, Inc.

Suite101.com, Inc. Announces Recent Developments Relating To The India Exploration Block
Tuesday September 23, 9:15 am ET

CALGARY, Alberta--(BUSINESS WIRE)--Sept. 23, 2003--Suite101.com, Inc. (OTCBB:BOWG - News) announced today recent developments as to its net 5% carried interest in the oil and gas Exploration Block KG-OSN-2001/3 held through its wholly owned subsidiary GeoGlobal Resources (India) Inc. ("GeoGlobal").

As was previously disclosed, on February 4, 2003, GeoGlobal entered into a Production Sharing Contract ("PSC") with the Government of India and others covering the 1850 square kilometre Exploration Block KG-OSN-2001/3 ("Block") offshore east coast of India. Under the PSC, the operator of the development activities is Gujarat State Petroleum Corporation Limited of India ("GSPC"), a party to the PSC. Under the PSC, GeoGlobal and the other contracting parties have the right to conduct seismic surveying and exploratory drilling activities on the block for a period of up to 6 1/2 years. Under the first of the three phases of exploration activities, 14 exploration wells are to be drilled over a period of up to 2 1/2 years. Under the remaining two phases of the exploration activities, an additional 6 exploration wells are to be drilled.

Seismic Acquisition Completed

On March 12, 2003, the Government of India issued a Production Exploration Licence permitting the commencement of exploratory operations on the Block. Petroleum Geo-Services ("PGS") of Perth, Australia was awarded the contract to perform the seismic acquisition along with the onboard and onshore processing. PGS commissioned two ships, the Ramform Vanguard and the Nordic Explorer of Norway, to undertake the seismic activities and commencing March 26, 2003 through to June 9, 2003 a marine 3-D seismic survey program was conducted on 1298 square kilometers of the exploration block at a cost of approximately (US)$10 million.

Government of India clearance has been received enabling the processing of the seismic data acquired by PGS, which commenced the first week of September in Perth, Australia. Multi-phase processing of the seismic data will be conducted by GeoGlobal and will involve the contribution of efforts by PGS of Perth, Australia; Jason Geosystems Canada and CGG Canada Services Ltd., both of Calgary, Canada.

Environmental studies are being conducted by the National Environmental Energy Research Institute of India. These environmental studies, together with the processing and interpretation of the seismic data are expected to be completed prior to drilling. A multi-well jack-up drilling program is expected to commence in the first quarter of 2004.

Mr. Jean Roy, President and CEO of GeoGlobal states: "We are very pleased with our progress to date since entering into the Production Sharing Contract. The 3-D seismic program has imaged the target objectives within our block. We believe that with our proximity to recent successes of experienced operators, we can look forward to an exciting drilling program to start in the first quarter 2004."

Cautionary Statement to Investors

This Press Release may contain statements which constitute forward-looking statements within the meaning of the US Private Securities Litigation Reform Act of 1995, including statements regarding the plans, intentions, beliefs and current expectations of Suite101.com, Inc., its directors, or its officers with respect to the outcome of the oil and gas exploration, development and drilling activities in the exploration block in which the company owns an interest off the east coast of India. Investors are cautioned that any such forward-looking statements are not guarantees of the success of the Company's oil and gas exploration, development and drilling activities and involve risks and uncertainties. There are numerous risks and uncertainties involved in the Company's acquisition of the unproved minority interest in the exploration area, including the possibilities that no discoveries of hydrocarbons are made on the exploration block or, if discovered, that such discoveries are not determined to be commercially productive. The block is a highly speculative exploration opportunity and pursuing the development of the exploration block will involve material risks to the Company and will result in material dilution to its stockholders. Additional risks and uncertainties arise out of seeking to do business overseas in India where political and other world events may disrupt the Company's plans and intentions. There can be no assurance that the Company's oil and gas exploration and production activities will be commercially successful or result in material revenues to the Company. There can be no assurance that the Company will be successful in raising material amounts of additional capital if and when capital will be required to further the Company's activities. Additional important risk factors are described in the Company's periodic filings with the Securities and Exchange Commission, including the Company's annual report on Form 10-KSB and quarterly reports on Form 10-QSB. The filings may be viewed at http://www.sec.gov. and www.sedar.com.

  Date       Kirk    S&P500   Delta
2003 YTD    +49.7%   19.2%    30.5%  as of 9/21/2003
 

                                Kirk   S&P500+  NASDAQ 
4.5+ Yrs 12/31/98 to 09/21/03  129.5%  (10.0%) (13.1%)
Annualized Annual Return        19.2%   (2.2%)  (2.9%) 
 
+with dividends reinvested. All Numbers unaudited. 
Click for a free issue of my newsletter .

[Kirk Comment: ]

-- posted by Kirk

» Kirk - Do I smell hydrazine

BOWG seems to be making a run at multi year highs on very thin volume. This can excite a demolition expert as well as rocket scientists.

<img src= http://cbs.marketwatch.com/charts/int-ad... width=452 height=570>

Here is a nice multi year chart showing the possible handle on the cup-with-handle pattern I've been talking about here for some time.

-A two yr cup! Not sure this is valid... but you can see the promoters have kept this at a buck before between two nice runs to $9 and $11. Can they do it again?

I'm in and strapped in ready for countdown Houston Control!!

<img src=http://cbs.marketwatch.com/charts/int-ad... width=452 height=570>

REMEMBER: This is not advice to buy or sell. I am just "talking about it" as I don't want to be held accountable for anyone's gambling. Overall, you should manage your total portfolio on an asset allocation basis, often with the aid of an investment professional. Within an asset allocation, I find it rewarding and fun to have 1 to 5% in "speculation" where using TA on experiments is a reasonable choice. In my newsletter portfolio, which I recommend for perhaps 5 to 20% of an equity allocation for the top of your investment risk pyramid, I manage many investments like this where I use some TA to try to get better prices to buy and sell.

-- posted by Kirk

» Jen_ - Re: Do I smell hydrazine

Did everyone see this announcement?

Form 8-K for SUITE 101 COM INC

22-Oct-2003

Changes in Control of Registrant, Acquisition or Disposition of Assets and Fina

....Jen

-- posted by Jen_

» Q_out - Re: Re: Do I smell hydrazine

Here's a key paragraph for me:

We currently expect that available cash and, subject to the success of management's plans to raise additional capital, the proceeds from the private or public sale of debt or equity securities will be sufficient to fund debt service requirements and planned capital expenditures for our existing properties through 2003 and into 2004. The funds necessary to meet fully these capital expenditures are currently not available to us and we may be unsuccessful in raising the capital necessary to meet in full these capital expenditures. We also may need to raise additional capital to fund the development of properties in which we have or acquire an interest, which capital may not be available to us in the future. There can be no assurance that we will be able to raise the capital required to meet our intended budget commitments. We are currently proposing to make an offering of common shares and warrants in a private transaction not registered under the U.S. Securities Act of 1933, as amended, with the amount of shares and warrants offered intended to raise up to of $6.0 million. The intended purpose of the offering is to raise additional working capital. The securities intended to be offered will not be and have not been registered under the Securities Act and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act. There can be no assurance that we will be successful in raising this additional capital on terms acceptable to us or that the transaction will not dilute the interests of our current shareholders. (emphasis added)

<img src="/files/mysites/qout/bhoestarts.gif" width=53 height=34 align="left">
Q_out
DISCLAIMER: My words and observations are general in nature, and are not meant as specific investment advice. Individuals should consult with their own advisors for specific investment advice.

-- posted by Q_out

» Kirk - Re: Re: Re: Do I smell hydrazine

They sold warrants in a private transaction back when they started as an internet company. I think the offering was 2 shares at $2.25 each plus an "option" to buy a third share for 50¢. They had to pony up $100,000 at $5 for each unit.

I remember at the time the stock was selling for a higher amount. The idea of this was to raise capital without dilluting the share price. Since the shares were selling above $3 (all from memory, anyone interested can go back and read about it here which is why this forum is valuable) some thought this was a great deal for the insiders. At the time, I wanted more than the few measly options I was given to reward me for my hard work. Management told me to either pony up the $100K or buy the shares on the open market. They were not going to give away the company to employees like the American companies did with their option plans. This was one reason I liked the management, btw.... Later when the stock crashed they would kid me about how I got such a better deal buying into the company than they did as I was able to buy as low as 12¢. The insiders were allowed to buy, but they couldn't pick and choose a good price as easily as I could.

Very small companies, especially outside the US, can save a ton of money by avoiding all the US securities registration stuff. It removes some protection from the investors, but it saves a ton of money.

Bottom line is it is a penny stock located outside the US. Nobody should really invest more than 1% in any of these companies unless they are very, very aware of the risk. I think some can have 5% invested in high risk, but I'd prefer to have it spread out over several companies as I am doing in my newsletter. For example, I sold some of this when it recovered and bought more CACS at 93¢ for the newsletter. I have also put some of my profits into another risky company similar to CACS that is still in the accumulation mode (i.e. I am about even on the buys and hope for huge gains in the future.)

So, what I am saying is these types of companies can be interesting and profitable investments, but you REALLY have to manage your risk and always ask yourself "how will I feel if this goes to zero tomorrow?"

-- posted by Kirk