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GOP, GIPPSLAND OFFSHORE PETROLEUM LIMITED |
 Posted: Oct 30 2007, 08:13 AM
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Posts: 103  |
I tend to agree apache, when I read the first couple of paragraphs of the review I was pretty p_ssed off, I mean how unprofessional to include as a highlight "the finder acquisition" then talk about it it when the negotiations and that deal fell over more than a week ago (refer announcement 22nd Oct). If this is the sort of dribble that GOP mgt expect to be able to pass off to shareholders then they are going to have to have some explaining to dso come agm time! what a disgrace. I have no doubt that yesterdays sell off was due to this report coming out and containing mis information or infact sloppy updates etc etc, I fear a bigger sell off may occur as a result but hopefully they can get the timeline right for the farm in, they have til close of business tomorrow to claw back some face. |
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Posted: Oct 30 2007, 07:40 AM
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Posts: 5,297 Thanks: 153 |
Seems bizarre that they GOP would release a Business Review 2007 presentation which still mentions the Finders takeover as though it was still proceeding.
It sounds like the Business Review 2007 presentation was a sloppy cut and paste job as though no one did a proof reading eg it was updated to include EAX JV signing in Sept 07, formal award of Aquitaine Basin in late October but still seems to mention the Finders takeover as proceeding? The pink zone highlighted on the Madagascar map on page 9 does not appear to correspond with the Green coloured zones in the award map for Cape D’Ambre in the lower left. The timetable included in the Business Review 2007 presentation shows farmin for Jamaica to be finalised around October and the Cape D'Ambre to be finalised in Nov but with the sloppy way they have put the presentation together I wonder how accurate/reliable any of this is?
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-------------------- Buyer beware: Do your own research before investing....
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Posted: Oct 23 2007, 10:28 AM
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Posts: 53 |
One door closes and another opens ...........
ASX Release 23 October 2007 Strategic alliance for Kenya exploration Perhaps the opportunity (or intent .....) to extend alliance beyond Kenya + Madagascar in the med term ? |
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Posted: Oct 23 2007, 08:12 AM
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Posts: 5,297 Thanks: 153 |
Does not look like BHP would have any problems getting rigs for Jamaica if they do decide to farm in....
-------------------- Buyer beware: Do your own research before investing....
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Posted: Oct 22 2007, 01:38 PM
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Posts: 5,297 Thanks: 153 |
Pity the Finders TO has been canned.
Sounds like Finders got too greedy and asked for more than what GOP has budgeted for. Its a mixed blessing.... at least there won't be any cap raising to fund the Finders TO and/or dilute existing shareholding. Meanwhile 8 days till end of qtr... -------------------- Buyer beware: Do your own research before investing....
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Posted: Oct 19 2007, 10:28 AM
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Posts: 5,297 Thanks: 153 |
Stock Resources 11 July 2007 Analysis of GOP suggested that farm out for the Jamaica tenements would be finalised around October.
Anyone told GOP that there is only another 9 working days left in October? Has the Madagascar bid gone to ground..... its gone pretty quiet for a done deal? http://www.gop.com.au/user/media/Stock%20R...P%2011Jul07.pdf
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-------------------- Buyer beware: Do your own research before investing....
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Posted: Oct 15 2007, 01:30 PM
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Posts: 53 |
Yes makes for an interesting comparison doesn't it - if the numbers are there then logic would dictate ..... As an aside but topical given your Falklands reference I was surprised to see PS indicate GBP might well look to divest its FOGL holding. I would have thought the Sth Atlantic exposure was quids ahead of any investment they might otherwise pursue ? (Don't hold but follow the story fairly close) GOP has a few strings to its bow (+ that recent Browse Basin buy puts them in good company .....!) but Jamaica is the near term focus and BHP dosh and rig access, will light the stock up on the boards if it eventuates. A lot to admire here I believe and I guess others do as well because I cant fathom the interest + volume of last few days - word on negotiations perhaps ? Regards, |
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Posted: Oct 15 2007, 12:05 PM
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Posts: 5,297 Thanks: 153 |
Burnham The question is will BHP take up its first right of refusal as operator and JV partner stake for GOP's offshore Jamaica tenements. After all BHP just splurged out for its chunk off Falklands as operator recently where there is no infrastructure at all and got on the wrong side of the Argentina Govt in the process. Jamaica is much closer to BHPs base of operations in the Gulf of Mexico where a deep sea rig could be sourced from. Most of the Falklands prospects are 200km (or more) from the Falklands whereas most of GOP's Jamaica prospects are within 60km of land. Most of the seismic and Falcon studies have been completed for Jamaica so they could be ready to drill as early as next year (subject to rig availability) whereas the Falklands could be 18 months away at least.
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-------------------- Buyer beware: Do your own research before investing....
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Posted: Oct 15 2007, 11:54 AM
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Posts: 225 Thanks: 2 |
Hi all,
Yep, I am in - quietly stalking and accumulating GOP for past couple of months. Quarterly coming up - expect to see a share issue and confirmation of recent deal. One for the medium risk - high return part of my portfolio! Could do with a few more shares though. Cheers, Gasbag 
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Posted: Oct 15 2007, 11:30 AM
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Posts: 53 |
[/QUOTE] Doubtless their are more than a few lurkers like myself tracking the stock Commander ........... Bought Dec + again in Feb. Co' is a sleeper at the minute but its 15 minutes of fame will come. Some (potentially) astute lease purchases add credibility to Cathy Norman + co's endeavour to rank GOP as more than just another frontier player. Combination of diversification, elephant targets on prospective ground and we trust attraction of partners with the pockets to fund the exploration - offers high rewards if their strategy comes to fruition. Falcon tech and attendant BHP agreement is a wrinkle yet to be quantified. GOP has ticked the boxes to date but we are getting close to hammer time. Regards, |
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