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

Top 726. Dec 12, 2005 6:19 AM

» Kirk - KG 17 Delayed

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I think this is old news being reiterated, perhaps to get some lower priced shares. The timing of the release, just after closing above $11, is highly suspect.

Equipment failure leads to delay in GSPC's fourth well in KG-OSN-2001/3

Dec. 11: The consortium led by Gujarat State Petroleum Corporation (GSPC) is facing a tough time implementing its exploratory programme in the Krishna Godavari block KG-OSN-2001/3, following malfunctioning of the drilling equipment. "Drilling of the fourth exploratory well -- KG-17 -- in the block has been delayed due to break down of the critical rig parts and inclement weather conditions in the block," GSPC sources told this website. The company commenced drilling for the well from the last week of August 2005. The well would be drilled to an intended vertical depth of 5,300 metres, deviating more than 1.5 kilometers to north-east of the KG-8 discovery. The well is being drilled by the Saipem's jack-up rig Perro Negro 3. The consortium is committed to drill a total of 14 exploratory wells in the block. Of the four wells planned in Phase-I, the first two wells -- KG-1 and KG-11 -- turned out to be dry. But the third well, KG-8, drilled to a depth of 5,061 metres, encountered gas in four zones and has proven to be a major discovery for the consortium. The company is in Phase-II of the work programme in the block. KG-OSN-2001/3 is a NELP-III block jointly held by GSPC, Jubilant Enpro and Geo Global Resources (GGR). GSPC holds a 80% stake, Jubilant Enpro carries 15% participating interest, and GGR holds the remaining 5% equity. By Sadiq Shaban

-- posted by Kirk

http://www.thestreet.com/_tscrss/funds/l...

Top 727. Dec 13, 2005 12:44 PM

» Kirk - Cramer Says "PASS" on GGR

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In response to Re: Re: Persistence posted by Wendell:

Did your call get through Monday?

Cramer's 'Mad Money Lightning Round': Coldwater Creek Hot

By TheStreet.com Staff
12/12/2005 7:34 PM EST

...

GeoGlobal Resources (GGR:Amex - commentary - research - Cramer's Take): "You're too far afield [with exploration in India] . I want natural gas but I want it in this country. I'm gonna recommend that you pass on Geo Global."

GGR is down 20¢ (1.9%) so far today at $10.52:

Of course, it has gained over 10x YTD... and he missed it, so not liking it after it is up 1,000% is not surprise!

-- posted by Kirk

Top 728. Dec 14, 2005 6:39 AM

» Wendell - Re: Cramer Says "PASS" on GGR

In response to Cramer Says "PASS" on GGR posted by Kirk:

That was not me that got through Kirk. I sure would like to know who it was, maybe it was one of our clan here or on the yahoo board. Go GGR

-- posted by Wendell

Top 729. Dec 14, 2005 7:34 AM

» lcha - Re: Cramer Says "PASS" on GGR

In response to Cramer Says "PASS" on GGR posted by Kirk:

"You're too far afield [with exploration in India] . I want natural gas but I want it in this country. I'm gonna recommend that you pass on Geo Global."

Geez, this statement is laughable! Too far afield? What does THAT mean? It's oil exploration which is global in nature. Who cares WHERE the oil or NG is found. With ignorant statements like this it is impossible to trust anything else the guy says.

-- posted by lcha

Top 730. Dec 14, 2005 7:44 AM

» Singlengle - Re: Re: Cramer Says "PASS" on GGR

In response to Re: Cramer Says "PASS" on GGR posted by lcha:

I wonder if he's also afraid of Intel and Microsoft and probably many others I don't even know of after investing millions of dallars over there.

-- posted by Singlengle

Top 731. Dec 14, 2005 8:03 AM

» Kirk - Re: Re: Cramer Says "PASS" on GGR

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In response to Re: Cramer Says "PASS" on GGR posted by lcha:

Cramer on GGR: "You're too far afield [with exploration in India] . I want natural gas but I want it in this country. I'm gonna recommend that you pass on Geo Global."
Lcha: Geez, this statement is laughable! Too far afield? What does THAT mean? It's oil exploration which is global in nature. Who cares WHERE the oil or NG is found. With ignorant statements like this it is impossible to trust anything else the guy says.

GGR is a Canadian company. Canadians are known experts on natural resources. The CEO, JP Roy, was selected because he found hydrocarbons for a very successful company that he did not own. The “VC’s if you like” who formed GGR after selling Suite101, offered JP an opportunity to get rich to duplicate for them what he did for someone else. JP owns a good percentage of the company and I’ve not read of him selling any shares. I’ll want to take more profits if he starts to sell in earnest. We can help each other here watch for this. smile

GGR is actually located in Calgary, Alberta… not much difference in travel than Los Angeles is from New York.

I translate Cramer’s statement to mean “Hey, I missed it. I have to say something to save face.” He doesn’t want to go on record one way or the other because the stock could still go to $50 or more if they keep finding hydrocarbons or it could go bust if JP loses credibility and can’t raise money to drill more holes, perhaps if the current finds turn out to have some issues. It is not a stock without risks…. I’ve take a TON of profits out. I plan to continue to do so if it keeps going up.

As of 12/14/05 the Total Return for "Kirk's Newsletter Portfolio" since 12/31/98 is Up 197% while the S&P500 only up 14%!!! & NASDAQ only up 3%!!! (my portfolio beta is roughly equal to that of QQQQ.)

For 2005, Kirk’s Newsletter Portfolio is Up 14.2% YTD vs. QQQQ up 5.3% YTD vs. DJIA Up 0.4% YTD vs. S&P500 Up 6.3% YTD

-- posted by Kirk

Top 732. Dec 14, 2005 8:38 AM

» lcha - Re: Re: Re: Cramer Says "PASS" on GGR

In response to Re: Re: Cramer Says "PASS" on GGR posted by Kirk:

It is not a stock without risks….

Kirk, I have been looking for a small successful E&P company 'without risks' for 20 years. So far, no go. I did find a bunch of small successful E&P companies that I doubled my money on over a few years. Unfortunately, I sold them and they have since doubled again. I may have a disadvantage at this point in my E&P stock investing in that as long as I personally have been in this business, it has been pretty much on the downside. So getting out when oil was in the lower $40's looked to be a top. Us 'insiders' sure didn't see 70 coming!

-- posted by lcha

Top 733. Dec 14, 2005 4:14 PM

» axolotl - Re: Cramer Says "PASS" on GGR

I have to agree with "Mr. Entertainment" on this one - India is an unknown for most people - may be a Jas Jain running the National Oil Co. who wants to screw all foreign co.s. It is not unusual for people in the business not to see the forest for the trees. Richard Rainwater recently in Fortune mag said he believes in Hubbert's Peak and he is heavily invested in oil but has 20% cash yet. He looks for blood in the street situations and found oil back when it was single digits per barrel. Small EP co.s should perhaps be purchased by the 1/2 dozen - a basket - one big winner can more than offset some losses. I am up about 8% this year so far (knock on lots of wood) with 75% equities. After a down Jan., I wasn't expecting much of a year. Down in Jan. usually means a down year. Good luck to everyone in 2006.

-- posted by axolotl

Top 734. Dec 15, 2005 8:33 PM

» Kirk - GSPC wants to retain whole block after entering Phase-III in CB-

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Going beyond the PSC: GSPC wants to retain whole block after entering Phase-III in CB-ON/2

Dec. 15: As Gujarat State Petroleum Corporation (GSPC) has entered Phase-III of its minimum work programme in block CB-ON/2 in Gujarat, the company -- in a rare request -- has urged the petroleum ministry to allow it to retain the original 809 sq km in the block. If the ministry concedes the request, it would set a rare precedent as a Production Sharing Contract (PSC) lays down the condition that an exploration company relinquishes 50% of the block area as it proceeds to Phase-III of the MWP. Explaining the reason for its request, GSPC sources told this website, "It would help us in optimal exploration of the onshore block." Due to certain constraints, the company could not explore the cover the entire block in Phase-II of the MWP, the sources elaborated. "If we are allowed to retain the Phase-II area as well, we would be able to complete full exploration of the block," the sources added. In return for the concession, the company is ready to acquire an additional 3D seismic data of 1000 sq km and spud one additional exploration well in the block. This will be over and above the committed Phase-III work programme. Phase-III has a term of two-and-a-half years, according to the provisions of the PSC. GSPC has an 80% stake and is the operator of the block. GeoGlobal Resources Ltd (GGR) holds the remaining 20% equity. By Sadiq Shaban

-- posted by Kirk