Actually Nova Chemicals, Texansand schlumbuger, are all in the area, for both shale oil and gas. There is gas just south of this area which can be used to pressurise the gas or else of course water could be used, from what I have heard. Nova is paired up with BQI currently and the Texans may be with them as well, lots of other companies poking holes in the area, and apparently there have been some blow outs as well, obviuosly not for GNZ but apparently there are others.
I heard the Texans said they could get the oil out simply, do not have the foggiest what that means....but they say simply.
i also have heard rumors of a PP between $1.25-$1.50 is planned to raise addtional funds to increase drilling....so that means the compnay is planning on promoing this company to death until it gets to that price range.
The only thing that would surprise me tomorrow is that the price stays in a 5 cent range all day tomorrow....Now thatwould surpirse.
Other than that it could g way up or way down......based on trading roughly 65% of the float today I suspect it will go up but one never knows.
GLTA