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GeoGlobal Resources Inc. Message Board

  • abeinark abeinark Jul 12, 2005 4:32 PM Flag

    beware

    i'm a 3.32 long. so i 'm not too worried about the short term, of course i'm here to make all the money that i can make. having said that, some of our newbbies had better watch this next action. there are bagholders all the way up and a lot are going to bail out.

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    • Thank you for the kind words. I remember those days... they seem like a distant memory now. :)

    • I remember when you were upset that you missed out on GGR when it was at .98 and you fretted about buying it while it ran to 3.

      It really makes me happy that you decided to bite the bullet and get in--I hope the money you have made helps you and Cole.

      Good fortunes to you

    • Oracle. You're always a great source for information. Thank you!

    • Two places; one, from an associate who works closely with the analysts here in Calgary and, two, he said it in a Globe and Mail article.

    • Toronto Globe & Mail Article on GGR -- See last paragraph for Martin Molyneaux comment.

      ==============================================

      Calgary Firm Gets Lucky with "Elephant" Indian Find -- By PATRICK BRETHOUR

      Tuesday, June 28, 2005 -- Updated at 9:37 PM EDT -- From Wednesday's Globe and Mail

      Calgary � Two misses, and then a strike.

      It took just three tries for GeoGlobal Resources Inc. and its partners to tap into what could turn out to be the biggest discovery of natural gas in India's history � and the start of a rocket ride for the tiny Calgary company, which has just seven employees.

      Shares in GeoGlobal more than doubled Tuesday, propelled by news of a massive natural gas find off the southeast coast of India.

      Indian officials and state oil company Gujarat State Petroleum Corp. Ltd (GSPC) say the Krishna Godavari block, in which GeoGlobal has a 5-per-cent net stake, could hold 20 trillion cubic feet of natural gas worth $50-billion (U.S.).

      Those numbers are still being firmed up, but it is clear that the partners have uncovered an enormous volume of natural gas. And they have done so after drilling just three wells, a significant accomplishment in a part of the oil industry that expects nine failures for every success.

      The head of GeoGlobal, a geologist named Jean Paul Roy, knew it all along, according to other company executives.

      Mr. Roy was utterly convinced that Krishna Godavari held a massive reservoir � an elephant, in the parlance of the oil industry � and even came up with a nickname. �He calls it the sleeping elephant,� said Allan Kent, executive vice-president and chief financial officer at GeoGlobal.

      GeoGlobal first bid on Krishna Godavari in August, 2002, acquiring its rights to the area the following February. Drilling began in August, 2004. In January, the drilling started on the third and successful well, KG#8.

      The next job is to find out just how big the elephant is. GeoGlobal is not providing its own figures for the discovery. Mr. Kent will only go so far as to say that the 20 trillion figure is �possible.�

      With just one well drilled into the reservoir, it is hard to be certain how much gas is there, said Martin Molyneaux, managing director of research at FirstEnergy Capital Corp. in Calgary. �It's a bit of a leap,� he said, adding that he has no doubt that KG#8 is a significant discovery.

    • gap up and watch out shorts...rumors of announcement swirl madly to big push upside

    • There's been a lot of water under the bridge since then, ketch. But it's nice to finally own a piece of something solid.

    • I'm actually here quite by accident, as one of the "leftovers" from the Suite101.com shell... and own some shares from stupid prices (both high and low!) Average price though, I'm sittin' comfortable and smellin' like a rose. (And I've followed "the birth" of Geoglobal even before the deal for the shell was offically inked up... so I'm familiar with how these Indian "rumors" have an interesting knack for truning into facts later on down the road.)

      Needless to say, I'm a believer. Very long. And strong like you can't believe.

    • Iamtherealhu, Are you still in the flooring business? Great day for us since the old days of BOWG where we all got our start.

    • <<< Yeah, I was one of them sick buyers under 6 yesterday...>>>

      congrats to you ... you've got balls, and now more money.

      Were you not one of the many here that bought before $3.00 ?
      If so... I say congrats to you ...all of you because you see something here that I don't, and never would have before the "news" came out that sent this stock to the actives list.

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