Management, page-5

Here you go @parker11

Management Part 2 – projects and performance
Cash at end of 1^st operating quarter: $1,499,000
No work re: exploring or evaluating of tenements as not all transactions had been completed.

2008
8^th May – agreement with Greenearth Energy to share some costs as there are some tenements overlapping in the Gippsland Basin with Greenpower’s Coal Seem Gas permits.
GPP is moving rapidly to develop its 2 million hectares of commercially attractive tenements and to extract natural gas to sell to electricity producers and gas marketers.
https://www.asx.com.au/asxpdf/20080507/pdf/3190l1423jl72y.pdf

12^th June – agreement with Granite Power (unlisted) to share drills/data on tenements that overlap in the Western part of the highly prospective Gippsland CSG tenements, Granite is expected to begin drilling in the near future.
GPP is moving rapidly to develop its 2 million hectares of commercially attractive tenements and to extract natural gas to sell to electricity producers and gas marketers.
https://www.asx.com.au/asxpdf/20080613/pdf/319lxfy4y9xb5k.pdf

1^st July – substantial coal seam methane potential identified in EP447, the strengths of mud gas encountered in Walyering No 4 ……………
The company is devoting close attention to next steps with these assets. We will take action aimed to result in the best possible return for shareholders.
https://www.asx.com.au/asxpdf/20080701/pdf/319xljc8xp5rry.pdf

31^st July – 2^nd quarterly released by GPP since listing
My key take points from it: Their MO, (Modus Operandi) was already forming……
As part of the information sharing with Granite Energy it is anticipated drilling will occur in the coming 6 months, that’s following from the “above announcement” were Granite was expected to begin drilling in the near future and GPP was moving rapidly to develop its tenements……MEH
EP447 a “Contingent Resource” of 1.63 TCF gas hosted by coal seams has been identified…….
The company is reviewing options on next steps to develop this resource - I guess a review is good return for share holders….
An intention to drill 2 core holes PEL 428 (JV Davidson/Orion Petroleum) later this year
https://www.asx.com.au/asxpdf/20080731/pdf/31bgnrlcbzb5zf.pdf
Cash at end of quarter $1,1415,000

From the End 30^th June 2008 Financials: https://www.asx.com.au/asxpdf/20081001/pdf/31cn4cz5xbqq92.pdf
8^th August – A farm in agreement with Eastern Star Gas on partially owned PEL428…
August (sometime) – A further 115,000 ($203,211) shares in Astron
Subsequent to year end – loses on investments $260k

I cannot understand why these transactions are now being called loans?


Previously posted: Post 32329525
Lodestar (King) subscribed for 12,500,000 shares @20c ($2,500,000) after being satisfied by the transfer of $2,500,000 of shares in Astron (King a director).
Flavelle subscribed for 1,860,160 shares @20c ($375,032) after being satisfied by the transfer of $375,032 of shares in European Gas (Flavelle a director).

Of course there is the obligatory ooopsie Sect 19D:

European Gas were no better in reporting, as at 30^th June 07, Flavelle held 1,415,040 shares in EPG –which includes the shares owned by GPP’s subsidiary GCC Asset Holdings that made way into Flavelle’s account. The next information of holdings in EPG was in their Annual Report as at 30^th Jun 08 where Flavelles holding had decreased by 465,040 shares = $372,032 which confirms that the investment in EPG has been transferred to GCC Asset Holdings. It did make it difficult that EPG never released a “Change in Director Interest” notice.

1^st October – Finsia Presentation, GPP’s Modus Operandi on chasing the next hot thing in projects is born:

https://www.asx.com.au/asxpdf/20081001/pdf/31cnwrx3kw5d06.pdf

30^th Oct – quarterly activities report: https://www.asx.com.au/asxpdf/20081030/pdf/31d8x7htmk51ds.pdf
PEL 428 – indications drilling will commence in the near future
EP447 – the company is considering options for Joint Venturing
Just another ooopsie – company is reviewing EP427 – which lies on the coast west of EP447 (psssst I think the mean EP425)
EL 4500 – as part of the agreement to share drills/data with Granite, anticipated drilling will occur in November/December, that is also after their last announcement (12^th June) that they were moving rapidly and drilling in the near future…. Again MEH
Cash at end of quarter $1,102,000

All the above IMO only
Information has been source from mentioned companies announcements.......