GREY:GTMIF - Post by User
Comment by
Tbonepickenson May 25, 2010 12:02pm
471 Views
Post# 17128811
RE: Welcome to the 30s...
RE: Welcome to the 30s...The fact that GMR is cheap now means it is a better buying opportunity. Maybe you've heard of the old saying "buy low, sell high" - Does that ring a bell ?
GMR going bankrupt ?
Perhaps you should do some due dilligence. They are on the hook for a little less than 20 % of the 4 holes they will be drilling this summer with Canbriam and Forest Oil. They have the money for the drill program or they would not have committed to such an aggressive program or they would have taken a smller position.
The market is going down, natural gas prices are low, the summer is just around the corner and there are a lot of nervous people dumping shares because they are scared. The markets are cyclical and so is the price of natural gas. Once all the fear sets in and (hopefully) gmr drops a little more I will gladly pick up even more cheap shares. The results from the lower St. Lawrence have been very good to date and the results from their bold drilling program are going to be released later this year. I look forward to owning my cheap shares (now) when the markets recover and the price of gas is higher. That combiation will make gmr a real winner. And remember, the entire St. Lawrence area is still being understood...its only in its infancy. As the play develops the results (which are already good) will get even better. I'm long on this play because I know that there is no more gas property being made. The low royalty rates in Quebec and existing infrastructure (on the gmr property) only serve as more reasons to like the potential of this play. This is a marathon, not a sprint. Patience is usually rewarded and I have no problem waiting a few months to allow those three companies to do what they do best - bring in natural gas fields and increase the value of the company for their shareholders. Good luck to the gmr longs.
Tbonepickens