||EPS - Basic
||Market Cap (m)
Genbel S.A. Share Discussion Threads
Showing 526 to 548 of 550 messages
|Cheap as chips?
|Back to life?|
|Change if strategy to canadian low risk small producing fields could get some of our money back.|
|still got my 100.000 / 15 shares.........could I get some of my money back on this doggy dog?
|Is this puppy still alive?|
|Financing was announed...10m units and another 8m units....|
|Hat eat my will I. Rearrange to form well known saying by a person not expecting what has been suggested.|
|Good news for a change?
|....and now we have a trading halt. Anyone know why?|
|November 22, 2012 17:53 ET
Groundstar Resources Limited Announce Acquisition
CALGARY, ALBERTA--(Marketwire - Nov. 22, 2012) -
NOT FOR DISSEMINATION IN THE U.S.A.
The board of directors of Groundstar Resources Limited (TSX VENTURE:GSA) ("Groundstar" or the "Company") is pleased to announce it has entered into agreements whereby it will acquire an aggregate 50% working interest in heavy oil assets, which includes the acquisition of a 25% working interest in the assets pursuant to the Acquisition described below. Groundstar expects to drill and complete vertical test well(s) in the Willingdon area of Alberta to confirm productivity and establish a medium and heavy oil resource play. Core, log and oil analysis demonstrates a 35 meter thick, 18-20° API oil column with excellent reservoir quality which the Company believes will allow for primary, cold flow production. Proprietary 3D seismic covering three sections (1,920 acres) delineates the initial well(s) and confirms up to 30 additional drilling locations. An independent engineering assessment dated November 1, 2012 has assigned gross Prospective Resource estimates for three of the sections at 3.1 million barrels Best Estimate, 930,000 barrels Low Estimate and 9.3 million barrels High Estimate.1 The independent assessment indicates the total reef to have a gross Prospective Resource estimate of 11 million barrels Best Estimate, 3.3 million barrels Low Estimate and 33.2 million barrels High Estimate.1 Under the terms of the agreements, upon having completed its earning obligations with respect to the test well, the Company will have a 50% working interest option on fifteen sections.
Key Attributes and Highlights to the Company:
Emerging Medium and Heavy Oil Resource Exposure: 69.0 million barrels net Undiscovered PIIP, Best Estimate1
Prospective Resources: Leduc 18-20° API oil 11.0 million barrels gross (5.5 million barrels net, Best Estimate)(1)
Current Development Inventory: 30 gross, 15 net locations
Seismic: 4.8 square km (1,920 acres) of 3D seismic and 30km 2D seismic 2
Land: 18 sections gross or 11,520 gross acres (5,760 net), 4.5 sections unbooked 3
Pro Forma Shares Outstanding: 7.5 million (basic), 7.8 million (fully‐diluted)
Tax Pools: $30.3 million
(1) Chapman Petroleum Engineering Ltd. ("Chapman") independent NI -51-101 assessment, effective November 1, 2012.
(2) Total gross seismic cost of $400,000.
(3) Based on the respective independent land reports effective November 1, 2012, prepared by Independent Land Evaluations Inc. in accordance with NI 51-101 5.9 (1) (e) for total net land value of $620,480.
In connection with the execution of the agreements, Groundstar is pleased to announce that it has entered into an assignment agreement with a private Alberta company ("First Oil") to acquire its 25% working interest in the Willingdon assets held by First Oil for consideration consisting of 1.6 million shares of the Company (the "Acquisition"). Certain of the directors of the Company are shareholders of First Oil, such that the transaction may be considered to be a non-arm's length transaction pursuant to the applicable policies of the TSX Venture Exchange ("TSXV"). In particular, two directors of Groundstar hold shares in First Oil, which does not represent a controlling position, and they will indirectly control an aggregate of 150,000 shares of the Company following the Acquisition. The aforementioned Acquisition and the issuance of the shares of the Company as payment therefore are subject to the approval of the TSXV. Upon completion of the acquisitions and provided that the interest is earned in accordance with the agreements, the Company will have a 50% working interest in the Willingdon assets.
About Groundstar Resources Limited
Incorporated in 1968, Groundstar Resources Limited is a publicly traded oil and gas company with exposure to 7.3 million gross acres of land actively growing a portfolio of working interests targeting oil and gas producing assets with appraisal and development opportunities and exploration upside. The Company believes that its current working interests provide significant near and long term value. Groundstar trades under the ticker symbol "GSA".|
|And they can't even be bothered to update their website with it!!|
|15:1??? Reverse split????|
|Andy, no it opened at 7.5c.
Are you mixing up the time of the TSX open at 9:30am Eastern Time with the same time in the UK (2:30pm)?|
|Consolidation intraday? Seems odd.|
|Thanks. I'm in VST and only followed GSA for the connection. Didn't know the consolidation was due (suppose I should have checked the news history...)|
|15 to 1 consolidation|
|rhubarbe - yes, eh?!
Is this rise linked to GSA in Kurdistan or their operations elsewhere?
There is nothing to be found on the web. Nowt.|
|Half cent?? eeer never held a share THAT low!!!|
|So GSA want out of kurdistan:
MD&A regarding KRG:
"In July 2012, the Corporation decided to dispose of its interest
in the Qara-Dagh Block. Management estimates that the recoverable value will be approximately
$1.4 million to $1.6 million. Based on this estimate, Groundstar will record an impairment provision
in Q1 2013 so the carrying value equals the recoverable value. However, the final recoverable
value and resulting impairment provision may be materially different from these estimates, as the
terms of the disposition have not been approved or finalized by all parties."
|Rhub. it's a 10% carried interest.|
|But do they have the cash to back it up?|
|Still life in the old hound dog?
Groundstar Resources Limited Announces Extension to Petroleum Prospecting Licence in Guyana
CALGARY, ALBERTA--(Marketwire - Aug. 23, 2012) -
NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES
Kam Fard, President and Chief Executive Officer of Groundstar Resources Limited (TSX VENTURE:GSA) announces that the joint venture partners have been granted a three year extension for the Takutu Petroleum Prospecting Licence ("PPL") by Guyana Geology and Mines Commission ("GGMC") ending May 21, 2015. The work commitment for the first phase of a two phase agreement is drilling of an exploration well by May 2014, in the Takutu Basin with a financial commitment of USD 7.0 million. The work program for the second phase will be developed by GGMC and the joint venture partners jointly. Groundstar, the operator, has a 10% working interest that is carried by Canacol to first commercial production Effective September 1, 2012 the operatorship will be transferred to Canacol.|
|Looks as dead as vast?|