Genbel S.A. Share Discussion Threads

[spnkbadger] 18/11/2010 22:34

Welcome aboard - good move

[22zacman] 17/11/2010 19:20

Right - decision made. I was going to sell 10,000 GKP shares and top up VST but I think that I will buy a few of these little beauties instead. I might have a few to many eggs in a little hill called QD. A diversified play makes sense.

[robbo126] 14/11/2010 21:20

I'll post this here in case people haven't seen it elsewhere.

Groundstar interview...

[robbo126] 12/11/2010 14:38

Yep, it's nice to know we are fully funded for the rest of 2010 and 'through' 2011.

spnk... maybe they want to release spud news on it's own, soon? It is slighty strange.

[spnkbadger] 12/11/2010 13:54

No Guyana update - strange, no?

[miamisteve] 12/11/2010 12:34

This news takes away the outside factors. The company has all drills fully financed and funded. Time now to relax and wait for the drill results on 3 fronts.

[miamisteve] 12/11/2010 12:32

Groundstar Resources Limited (TSX VENTURE:GSA) -

West Kom Ombo Block, Upper Egypt

Groundstar Resources Limited ("Groundstar" or the "Company") is pleased to
announce that it has completed the sale of 60% of its interest in the West Kom
Ombo block to Aegean Energy.


Substantial progress has been achieved towards the objective of drilling the
first exploration well on the block. An access road to the drilling site and the
drill site pad have been completed. Casing and wellheads have been acquired. The
drilling contract for two firm and two option wells has been awarded to Sino
Tharwa Drilling Company. The exploration well will likely spud by the end of
November.


Through a series of transactions, expected to be approved by Egyptian
authorities, Groundstar will retain a 10% net interest that will be carried for
a minimum of four exploration wells with a capital expenditure of up to US$30
million gross. Aegean Energy Egypt (a subsidiary of Energean Oil & Gas) will
ultimately have an 80% working interest and will be the operator of the block.


The funds received from these transactions place Groundstar in a very favourable
financial position to meet all its corporate and exploration obligations for the
remainder of 2010 and through 2011.


Qara Dagh Block, Kurdistan, Iraq

The Qara Dagh -1 exploration well, operated by Niko, experienced operational
difficulties in the Tanjero formation near the current measured depth of 2,239
meters. These difficulties have been resolved. The go forward plan is to install
intermediate 11 3/4 inch casing string and drill ahead to evaluate the three
primary Cretaceous targets; Shiranish, Kometan and Qamchuga. Drilling for the
Qara Dagh-1 well is anticipated to be completed in January 2011.


Groundstar is extremely pleased and excited to have reached this stage. A
high-potential well is currently drilling in Kurdistan. An exploratory well will
be drilled this year on two other high impact blocks, the WKO block in Upper
Egypt and the Takutu PPL in Guyana, at no cost to the Company. Regardless of
this year's drilling results, additional exploration wells will be drilled in
2011 in Guyana and Egypt at no cost to Groundstar.


Groundstar is a publicly traded Canadian junior oil and gas company actively
pursuing exploration opportunities in Guyana, North Africa and the Middle East.

[rhubarbe] 10/11/2010 22:12

Well, to be fair I don't have that many but it's an interesting play..

[jfjfjf2] 10/11/2010 20:36

It does seem as though holders are happy holding and some good news could send us flying. I'd like to hear a chartists view, is that a cup forming? Guyana spud next week?

Julian

[rhubarbe] 10/11/2010 20:13

If it all comes together this could go off with a bang like wot we haven't heard in a long while!

[thelung] 10/11/2010 18:29

This little beggar is looking like a coiled spring.......but the volume is smaller than a gnat's crack...

[cambradjones] 05/11/2010 16:58

Was very tempted to sell a small amount of gkp today and buy some of these.............but didn,t.

[cambradjones] 05/11/2010 16:57

I have noticed that the share price moves very quickly here on small volume, jfjfjf2, surely 3 1/2hrs cant pass without a trade though?

[jfjfjf2] 05/11/2010 16:54

Cambrad - If you have a spare £500 to invest you could probably send the price up by 10%.

[cambradjones] 05/11/2010 16:46

Guys whats happening here today, cant see a single trade yet?

[rhubarbe] 04/11/2010 20:59

But it serves well in that role, too, does it not?

[jfjfjf2] 04/11/2010 18:24

Excellent news. This company continues to impress, not just a safety net for Qara Dagh exposure.

Julian

[miamisteve] 04/11/2010 15:51

This is a really important development, as we didn't know how long this was going to drag on. When the rest of the conditions are met Aegean will release the rest of the cash for the purchase price and we'll have no need for immediate financing.

[robbo126] 04/11/2010 14:59

FYI, Area A's potential recoverable resources (according to Gustavson Associates) and a discovery's possible value (according to my NAV)....

Low case - 35mmbo - unrisked value = 44c per share.

Best case - 76mmbo - unrisked value = 95c per share.

High case - 156mmbo - unrisked value = 194c per share.

A CoS of 20% has been suggested by Redwood Capital.

[robbo126] 04/11/2010 14:46

Deed of Assignment Between Groundstar Resources and Aegean Energy Approved by the Egyptian Authorities

CALGARY, ALBERTA--(Marketwire - Nov. 4, 2010) -
NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES

Groundstar Resources Limited (TSX VENTURE:GSA) is pleased to announce that the Egyptian Ministry of Petroleum has approved the deed of assignment which transfers a 60% net interest in the West Kom Ombo block to Aegean Energy. This approval completes one of the main conditions of the Sale Agreement between the two companies announced in June 2010. Several additional conditions of the Sale agreement await approval by the appropriate authorities which is anticipated shortly. Groundstar has a 10% net carried interest in the block.

Substantial progress has been achieved towards the objective of drilling the first exploration well on the block. An access road to the drilling site and the drill site pad have been completed. Casing and wellheads have been acquired. The drilling contract for two firm and two option wells has been awarded to Sino Tharwa Drilling Company. The exploration well will likely spud by the end of November.

The first exploration well will be located in Area A on a fault closed structure with 3 way dip closure. If the well is a successful discovery, several other structures in the immediate area would warrant drilling. Area A is in the central eastern part of the block near the boundary of the Kom Ombo block operated by Dana Gas Egypt on which the Al Baraka oil discovery is in the development and early production stage.

Groundstar wishes to acknowledge the continued support of Energean Oil & Gas to complete the pre-drill task and move the joint project closer to the drilling stage.

[robbo126] 01/11/2010 21:54

Thanks jf... a few months ago I had the 1st of November down as being an important date for GSA. It looked like we should have QD and Guyana TD and testing news around this time! However, this is the E&P industry where I have hardly ever seen a company meet a deadline!

[jfjfjf2] 01/11/2010 15:47

Robbo - We should have spudded Guyana by now. October is one of the lowest months for rainfall in Guyana and majority of rig was onsite on by 9th september. Over 50 days later and news is two weeks overdue

JF

[robbo126] 31/10/2010 23:08

From reading the broker note on Rhu's link it looks like drilling in Guyana and Egypt will both likely commence in November. Guyana looks to have been held up by delays in getting things through customs in Brazil and heavy rain.

Both wells should take around 50 - 60 days to drill and test. If we are fortunate to have positive news on both of these wells, we could see one almightly rise around late December (Xmas present?) or early January (Birthday present for me!?), due to the potential good news combined with the illiquidity of this share.

This is of course if we haven't already seen an almightly rise before these wells results are released... now what could possibly cause that to happen... ;)

Good luck all... it's going to be a very exciting 3 months here! :D

[rhubarbe] 26/10/2010 12:24

New research note:

eResearch Corporation today launched coverage of Groundstar (TSXV - GSA, $0.39) with a "Speculative Buy" rating and a 12-month target price of $0.87. Excerpts from the report include: "Despite holding relative small property interests on a percentage basis, Groundstar nevertheless has exploration exposure to a total of eight prospective drilling locations, three of which will be operating during the fourth quarter of 2010 with gross prospective "Best Estimate" reserves in excess of 1.1 billion barrels of light crude oil, and an exploration land inventory just under 10 million acres. The Company has successfully negotiated cost-carrying terms with partners on two of its three exploration properties, thus limiting its exploration spending obligation to just $2.76 million, an amount that is currently fully funded."

To read the report in its entirety please go to www.eresearch.ca and register (for free). Alternately you may visit (no registration required).

Jason Krueger, CFA
Redwood Capital Corporation
Telephone: [phone]
Email: [e-mail]
Web: www.redwood-capital.com
Skype: jrdkrueger