$975K for the quart!!! $2.7 Million for the year!!!
What the hell!!"
-company name not disclosed. But aren't you glad your not reading these sort of comments on the GGX thread. I mean seriously, if the biggest bone to pick is lack of communication, despite the fact there really has never been a lack of comunication imo, then i suggest you take a step back and seperate the frustrations of your own decisions, to the ones you direct at managements.
While management haven’t made us instant billionaires, they have continued operations despite numerous REAL setbacks, whilst on a shoe string budget. You can't blame management for a dry hole, you had access to all the same data they did and chose to invest. There has been no misleading, no exorbitant admin fees, just real world problems and a slow, but steady path through these problems. Money isn't easy to come by, our exploration results to date haven't exactly been enticing to the next BIG investor, hence the shortfall.
We're still here, dilution isn't at suffocating levels...yet. We still have prospects, we still have a chance at becoming a producer in the short-medium term. Albeit a modest one at this stage, and that's only if our story is attractive enough to outside investors. Don't confuse frustration at your investment decisions with the reality of the situation. We didn't hit the big pay dirt, it was always going to be a struggle from that day forward. However, like I keep saying, as long as we're listed, and as long as the guys in charge are still trying their guts out, we still have a shot at it. I thought it was going to be easier than this myself, i thought wrong. Truth be known, there probably wasn't much thought put into it at all from my side of things. But I’m still able to not blame management for the position I’m in. They said they were to drill holes, they did. They were dry. They said they were going to drill out the junk, they did, despite major difficulties and expenditures. They said they were going to perforate lower zones. They did, and recovered saleable oil to surface. They said they were going to test for shallower gas, they did, and results were unfavourable. All of that costs serious money, they spent it, and they need more. So they raise, and offered you, me, and everyone on the planet the chance to invest, the take up is what it is. Right now, The story isn’t as glossy as it was once. The real test of management will be from here on out. They have the chance to attract new interest when new data comes out of France. Applications, Drill Targets, Speculation etc.
I'm not trying to bully or talk down to anyone, i just think some of the calls on here are a little misguided. I personally still have a reasonable amount of faith, it’s not as blue-sky as it once was, but that was completely misguided anyway. I think if i was completely new to ggx as of today, I would still be excited by the prospects of the other anticlines on Cebu and France, and I would be hoping like mad an income from Cebu was not too far off, and as soon as it was there, i would invest as heavily as i have to date. I can see the big picture, and I think it's just a few small, but quite challenging obstacles that are holding us back.
GGX Price at posting:
2.8¢ Sentiment: None Disclosure: Held
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