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But also remember another interesting thing about Essar Oil is , there very good at packing in there drilling service providers as you say , they terminated there 100 well contract with G.D.L. two years ago . Similarly G.D.G. at a later date terminated there Lifabric well contract for lack of funds . Leaving drilling contracts not worth the paper there written on , amongst other things where Mr. Randeep Grewals concerned .!!! And thats why the share price is where it is today .
A proper imformitive blog, even if it contains the usual hollow promises of the Chairman of both companies . l find it difficult to understand why Mr. Grewal did not mention G.D.G. are still trying to raise $400 m. in loans ect. to pay of present dept & accellerate developement in his latest G.D.G RNS statement. The latest statement to shareholders only informed of Dept maturity extensions of approx. one years time . Your blog stated that Mr. Grewals intention is to raise money by lPO (presumably Hong Kong Listing ) & RPL ( a loan on G.D.G.s gas reserve assets ) which sounds great !!! But thats exactly what we have been waiting for him to do over the last ten months , unsuccessfully .!! Same old Mr. Grewal never quite getting his act together ! Heavens knows when the next G.D.G drilling contract will mobilize . Which is bad news for both are companies . Lets all tuck ln & wait another year --- or two or -- ???
The only thing bursting with this company , is Mr. Grewal waistline after G.D.L.s A.G.M. hotel meal ln London today !!!
Got the attention of somebody then , ( Nasty old Roobans the fairy god mother ) as l said l have made my point . lm of to lick my wounds , & count my losses . But , l still cant help wondering if anybody will attend the A.G,M. though, Roobans wont his going next year } Just as well the mood his in !!!
G.D.G. & G.D.L are run by the same ceo & chairman Radeep Grewal , so are connected . ( l really should not have to be explaining that to anyone ) lts the facts & the truth l want , dont you ? & the truth hurts sometimes. But your right , l have had your attention , & l have made my point .!!!
Dont be a silly billy !! Just do what YOU said you were going to do !! & then report back to your fellow investors !!
Has nobody got anything to say about this poxy company , Good or Bad !!! All the ingredients are there !!! Should have been so much better with a proper board of Directors . lt really is difficult to imagine whats round the corner next !!! Cant even sell the shares , because its hardly worth it at current levels !!! Still , the weathers not to bad for this time of the year is it .
Or , attend the A.G.M. like you said you were going to , & ask Mr.Grewal himself. ( about everything ) !!! lm sure everybody would be most grateful to hear what he has to say about his companies , to your face !!!
Do your own research ! Speak to - mark.downes@arden-partners.com or steve.wassel@arden-partners.com
Sold my shares in G.D.L. years ago fortunately, but regrettably still have some in G.D.G. which l brought averaging down, still believing in G.D.Gs cbm gas assets in China (more fool me ) & it probally would have been successful with a proper board of directors. Even Mr. Grewals Chtef Accountant Tim Redmond jumped ship a few months ago because of the way the company was being run !.. My earlier post (inspiration) was taking the rise out of ( G.D.L. posters ) by the way ! You all helped me retain my sense of humour with these poxy shares ! l live to far away to attend A.G.Ms. & anyway would not waste my money now travelling to hear Mr. Grewal lie about his Companies promises as im quite sure you lot wont !
If any of you do attend the A.G.M on Wednesday 1st Nov. ( l can,t imagine it ) Do remember to ask Mr. Grewal about the Chinese bank fundind to pay for more lmmediate promised drilling by G.D.L for G.D.G. l daresay he will probally come up with another load of old baloney though . What a joke his companies are.
Randeep Grewals Co. G.D.G is beyond a joke . How can the comp. expand its developement plans & drilling campaign without further funding .? And , what about all that baloney about increasing investors share value this year ? We,ve waited almost a year for the update on the Chinese bank funding. And now NOTHING .! Or , are G.D.G.still going ahead with extra funding to excellerate further production & drilling plans . There is no mention of this in the R.N.S. But investors need to know NOW !!!
Hypno reckons the spread is holding back investors,& possywaves is keeping his fingers crossed hoping for a HUGE rise. ( Please tell us your both Joking ) C,ant make this years A.G.M., but will definitely be at NEXT years , threatens another G.D.L. investor ! ( What about the year after that Roobans) Did anyone attend the A.G.M.yesterday 26th Oct. asks another investor , until a kindly chinese gentleman quickly spots Clox mistake . Lets hope Clox remembered to put his clocks back Sunday morning , otherwise he will miss Wednesdays A.G.M. & make himself look a right CLOKS
AGAIN !!! ----- WHATS THE HOLDUP !!! ----- EVERYTHING DEPENDS ON IT !!!
Theres always uneasy , unending , & ongoing drama with G.D.G. & its developement plans !!! Currenly its the Chinese Banks teasing Mr. Grewal with funding offers that have been on the table for 9----10 months or more . As an investor l slncerely hope this has a good outcome . So please Mr. Grewal can we have an end to this extremely important issue one way or another , NOW !!!
Both G.D.G. & G.D.L. Are in the" mire " if Mr. Grewal does,nt get his funding by the 20th Nov. His certainly seems to be cutting it a bit fine !!!
What a" brilliant" idea Chow , surgest that to him when you attend G.D.Ls A.G.M in a week or so,s time !!!
The Chinese seem to have got Mr Grewal after 20 years of developement in there country , just where they want hlm, on his knees & begging for more money , by the 20 th Nov. & thats just to keep his company G.D.G. buoyant !!! Has Mr. Grewal bitten of more than he can chew ? We need some news soon , as does Mr. Grewal.!!! G.D.G. should surely have been such a financial success story, & who knows , could still be one . The saga continues ---------for a while at any rate !!!!!!
Look at L.S.E. fundamentals Jamie. (current libilities ) The dept total is $41.27 million , & that was year end 2014. Whats changed over neally 3 years ago , apart from more borrowings . Likewise L.S.E. is unreliably still listing brokers forcast ( Peel Hunt ) for G.D.G a buy at �9.50 . When in fact Peel Hunts latest forcast is a hold at � 1.50 . All very misleading if your not careful . Furthermore Jamie , talking of future drilling contracts for G.D.L. , most of the Chinese majors have got hundreds of drlling rigs themselves , which do the job . Hence all the wells they have , & allmost cerntainly have adapted & designed there own version of Lifabric from the C.N.P.C. Lifabric well drilled for them back in 2013.. Another concern is the fact that mothership G.D.G dept of $88 million hopefully being financed & cleared before 20th Nov. 2017 , has also got to include l would imagine at least another $80 million odd to finance all G.D.G.proposed well drilling plans , unless they suspend drilling after just a few wells , there good at that aren,t they !!!. Tread carefully people !!!
The facts are , G.D.L. have over $42 million dept , very little income , & no money as such to pay for more drilling contracts etc. Anyway thats apart from the fact that past drilling contracts are not worth the paper there written on. Most just seem to evaporate as per G.D.G. 30 well contract Jan. 2015 , & Essar oil 100 well contract Dec. 2013. Hence todays share value of 2--3 pence. Thats not to mention mothership G.D.G. is on the verge of insolvency if $88 million bond dept is not cleared by 20th of Nov. 2017 . ls this going to be a last minute bailout ?. Tread carefully people !!!