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In reply to: king louie on Wednesday 23/02/05 02:26pm

Peter Strachan, who edits an excellent investment research newsletter, "StockAnalysis" (did a good job of identifying Elixir as a great prospect early on!), recently joined the board. Strachan has more than 30 years' experience in the securities industry having worked with a range of major UK and Australian based financial firms in roles as diverse as share market and corporate research, institutional dealing, investment banking and business development and management.

 

I believe there may be several new projects/deals under consideration at present which could revivify GDN.

 

 

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In reply to: Nowhere Man on Wednesday 23/02/05 02:41pm

Thanks Nowhere Man

 

Might jump in in the next few days if it continues north, can always sell if it goes pai shaped I suppose but these littlens tend to bolt in the blink of an eye if the insiders get a wink as they are a tad illiquid to tolorate big $$$ on the buy side with out scattering the sellers.

 

 

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In reply to: king louie on Wednesday 23/02/05 04:56pm

The Bullets Speculator Selected this and has a great record

 

We are ready to make our first punt for 2005 with a tilt at Golden Gate Petroleum (ASX code: GGP), a Perth-based junior with modest but proven undeveloped reserves in the US of 4.5 million cubic feet of gas and 745,000 barrels of oil. At 34ÃÆâ€â„¢ÃƒÆ’ƒâ€Â ÃƒÆ’¢Ã¢Ã¢â‚¬Å¡Ã‚¬Ãƒ¢Ã¢â‚¬Å¾Ã‚¢ÃƒÆ’ƒÆ’¢Ã¢Ã¢Ã¢Ã¢â‚¬Å¡Ã‚¬Ãƒâ€¦Ã‚¡ÃƒÆ’‚¬Ãƒâ€Â¦ÃƒÆ’‚¡ÃƒÆ’Æâ€â„¢ÃƒÆ’ƒÂ¢Ãƒ¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡ÃƒÆ’â€Å¡Ãƒƒâہ¡ÃƒÆ’‚¢, the companyÃÆâ€â„¢ÃƒÆ’ƒâ€Â ÃƒÆ’¢Ã¢Ã¢â‚¬Å¡Ã‚¬Ãƒ¢Ã¢â‚¬Å¾Ã‚¢ÃƒÆ’ƒÆ’â€Å¡Ãƒƒâہ¡ÃƒÆ’‚¢ÃƒÆ’Æâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â‚¬Å¡Ã‚¬Ãƒâ€¦Ã‚¡ÃƒÆ’‚¬Ãƒâ€Â¦ÃƒÆ’‚¡ÃƒÆ’â€Å¡Ãƒƒâہ¡ÃƒÆ’‚¬ÃƒÆ’Æâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â‚¬Å¡Ã‚¬Ãƒâ€¦Ã‚¡ÃƒÆ’‚¬Ãƒâ€Â¦ÃƒÆ’‚¾ÃƒÆ’â€Å¡Ãƒƒâہ¡ÃƒÆ’‚¢s 138.3 million shares carry a market capitalisation of almost $45m, with $2.5m cash at bank.

 

In the US, gas trades at $US5/1000 cubic feet to $US7/1000 cubic feet, compared to an average price in Australia of $US2.25/1000 cubic feet. Eight months ago, the company paid $US350,000 for its Bethenay project, 2336 acres (945 hectares) of old oil leases on the Texas-Louisiana border. In the past, 17 wells were drilled as oil producers but did not tap the four gas zones known on the tenements, which also include three oil horizons. In the past three months, four successful gas wells have been drilled. Managing director Sam Russotti hopes that by mid-January, the wells will be producing 2 million cubic feet a day, which would deliver a gross profit after the cost of production and sale of $US360,000 a month. At 34ÃÆâ€â„¢ÃƒÆ’ƒâ€Â ÃƒÆ’¢Ã¢Ã¢â‚¬Å¡Ã‚¬Ãƒ¢Ã¢â‚¬Å¾Ã‚¢ÃƒÆ’ƒÆ’¢Ã¢Ã¢Ã¢Ã¢â‚¬Å¡Ã‚¬Ãƒâ€¦Ã‚¡ÃƒÆ’‚¬Ãƒâ€Â¦ÃƒÆ’‚¡ÃƒÆ’Æâ€â„¢ÃƒÆ’ƒÂ¢Ãƒ¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡ÃƒÆ’â€Å¡Ãƒƒâہ¡ÃƒÆ’‚¢, the shares are trading at similar levels to pre-Bethenay. The company also holds 10% in the 66,000-acre (26,710-hectare) Padre Island project in the Gulf of Mexico producing 3 million cubic feet of gas a day. l

 

Ordered

 

20,000 Golden Gate Petroleum to 34ÃÆâ€â„¢ÃƒÆ’ƒâ€Â ÃƒÆ’¢Ã¢Ã¢â‚¬Å¡Ã‚¬Ãƒ¢Ã¢â‚¬Å¾Ã‚¢ÃƒÆ’ƒÆ’¢Ã¢Ã¢Ã¢Ã¢â‚¬Å¡Ã‚¬Ãƒâ€¦Ã‚¡ÃƒÆ’‚¬Ãƒâ€Â¦ÃƒÆ’‚¡ÃƒÆ’Æâ€â„¢ÃƒÆ’ƒÂ¢Ãƒ¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡ÃƒÆ’â€Å¡Ãƒƒâہ¡ÃƒÆ’‚¢

 

Disclosure: The authorÃÆâ€â„¢ÃƒÆ’ƒâ€Â ÃƒÆ’¢Ã¢Ã¢â‚¬Å¡Ã‚¬Ãƒ¢Ã¢â‚¬Å¾Ã‚¢ÃƒÆ’ƒÆ’â€Å¡Ãƒƒâہ¡ÃƒÆ’‚¢ÃƒÆ’Æâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â‚¬Å¡Ã‚¬Ãƒâ€¦Ã‚¡ÃƒÆ’‚¬Ãƒâ€Â¦ÃƒÆ’‚¡ÃƒÆ’â€Å¡Ãƒƒâہ¡ÃƒÆ’‚¬ÃƒÆ’Æâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â‚¬Å¡Ã‚¬Ãƒâ€¦Ã‚¡ÃƒÆ’‚¬Ãƒâ€Â¦ÃƒÆ’‚¾ÃƒÆ’â€Å¡Ãƒƒâہ¡ÃƒÆ’‚¢s family holds shares in QR Sciences and Admerex.

 

 

 

 

 

 

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Letters should be no longer than 200 words and sent to: bulletinletters@acp.com.au. Do not use attachments, but do include a daytime phone number, suburb and state if you want your letter to be considered for publication. Letters may be edited for length and clarity.

 

 

 

 

 

Care to comment?

 

Letters should be no longer than 200 words and sent to: bulletinletters@acp.com.au. Do not use attachments, but do include a daytime phone number, suburb and state if you want your letter to be considered for publication. Letters may be edited for length and clarity.

 

 

 

 

 

 

 

 

 

 

Powered by edDeskÃÆâ€â„¢ÃƒÆ’ƒâ€Â ÃƒÆ’¢Ã¢Ã¢â‚¬Å¡Ã‚¬Ãƒ¢Ã¢â‚¬Å¾Ã‚¢ÃƒÆ’ƒÆ’â€Å¡Ãƒƒâہ¡ÃƒÆ’‚¢ÃƒÆ’Æâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’â€Â¦Ãƒƒâہ¡ÃƒÆ’‚¾ÃƒÆ’Æâ€â„¢ÃƒÆ’ƒÂ¢Ãƒ¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡ÃƒÆ’â€Å¡Ãƒƒâہ¡ÃƒÆ’‚¢ Last update: 12/01/2005

 

 

 

 

 

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