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GeoGlobal Resources Inc. Message Board

  • nvseal2004 nvseal2004 Apr 4, 2005 9:49 AM Flag

    Something up

    We just hit $1.50 on 179K shares in first 15 minutes of trading. Maybe we will finally get things to go our way for once.

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    • Sure; you only had to see earlier posts.!

      • 1 Reply to bs572
      • I'm not so sure things are going well, stock has sold off back down to $1.40, seems like someone bought some bogus story and stepped in aggressively and now stock has sold off .I have read earlier posts alluding to possible oil hits/gas hits but stock hasn't reacted as if it were true. Also saw this from Raging Bull and it doesn't sound encouraging to me:

        GSPC consortium completes third well in KG-OSN-2001/3: Small traces of gas found

        March 30: The consortium of Gujarat State Petroleum Corporation (GSPC), GeoGlobal Resources (GGR) and Jubilant Enpro has completed the drilling of KG-8 well in the Krishna Godavari (KG) Basin in the exploration Block KG-OSN-2001/3 off the east coast of India. According to sources in GSPC, the KG-8 well was drilled beyond a depth of 3,000 metres. "The results are being assessed. We have found small traces of gas at different levels but we don't know whether that is commercially exploitable," a consortium official told this website. KG-8 is the third well in the prospective Andhra block. The first two wells -- KG-1 and KG-11 -- were abandoned and plugged as no traces of hydrocarbons could be found in them. The consortium hired the drilling rig Perro Negro 3 to drill the third well from January 14, 2005, at an average cost of US$ 1,30,000 per day. The KG-8 well is located in the southwestern part of the KG Block in shallow waters of about 60 metres. The consortium is currently in Phase-I of the MWP and has plans to drill one more exploratory well in the block. KG-OSN-2001/3 is a NELP-III Block, jointly held by the consortium where GSPC is the operator with 80% stake, Jubilant Enpro with 15% and GGR has 5% stake. By Sadiq Shaban

 

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