3SOF

Hi All
Anyone got a bead on this company?
After reading throught one of those "Buy my research report" ads on Investment U, I did some digging and found GAX. (Might be my contest pick?)
The article goes on about how the worlds largest supply of oil is in the oil shale region of Utah, Colorado, Wyoming (Biggest deposit in the Piceance Basin).
Galaxy is the only small player that has been acquiring property since 03'. Shell and Encana are the big players.
Also found out Bush had green lighted the drilling in this area back in 05.

Any feedback would be appreciated!

Best
Gman

Hi All
I'm dragging this one out for show and tell again.
This one was de-listed and then re-listed following a plan to sell some of their natural gas properties for $50M to one of their partners (Exxel Energy). The news has been out for a while.
I actually called the company today and had confirmation that the deal is indeed going through. They said the announcement will be on their web site either next week or in their quarterly release on Oct 15.
I've been watching the thing go down and down since I bought it in April for $1.20!
However, today, for the first time in a while, she's moving in the positive direction AND at a little more than double the volume.
I bought a few thousand more shares today at 0.29.

I bought more for a couple of reasons:
1) the property was never on their books at current value (bought at $133/acre vs. selling it for $33,333/acre). 52 wk low was 0.62 or so.
2) The $50M will get GAX out of debt and then some.
3) They have over 20 revenue generating wells in other areas.
4) Jim Rogers (Hot Commodities) stated that conventional reserves of natural gas are petering out and Coal Bed Methane are the new sources. - IMO natural gas is going to keep going up.

Anybody care to let me know if they think I did the right thing buying more???

All the Best
GMan

GAX looks to have found a bottom, bullish cross on the MACD, volume is picking up and also broke through the 9MA.

I'm with ya on this one GMan dude!  I bought in hoping for a 2-bagger at least on this one.  Found this blurb on another site.....not sure of true but interesting read:


There`s been almost 12 million shares sold off since May by a particular Company who`s not been bothered about the stock price, as they owned them much lower, so the stock could have gone to 5-10 cents, but that deadline for the sell off was yesterday, Friday 29th Sept.

As of Monday, no further shares can be sold by this particluar company, so the stock should start acting like a normal stock from next week onwards.

As to the $50 million, it appears to be a done deal and Exxel I hear have been looking at raising $150 million, not sure if that is Canadian or US dollars, but $50 million of that is earmarked for the purchase of GAX in the Pisceance, hopefully that deal will be completed by the end of the month of Oct 06, debt cleared, predomimently Permyntheon for $21.5 million and other debts, then GAX will be chucking money at the heavier de-watering and irrigation to get the gas to the surface.

People say, it`s the wrong time with Natural Gas and Crude dropping to lower prices, but that`s wrong, GAX is not really a producing NG or gas Company, albeit they have some, but it is very small, so when they become cash rich in a month or so, they can start again, new drillings or purchase of other land and then with prices being lower for NG and Crude, they don`t have to pay such high premiums for
drills, land as not such the demand, so they get it cheaper and save monies for the Company, hence us the shareholders, so not a bad thing.

I imagine they will also become Strategic Partners with other Companies, but instead of being the underdogs, they become the bigger holders, hence more monies for the Company as well.

I think it is going to be an interesting few months leading up to the end of the year and with the major share sell off out of the way and within a month, all debts cleared, I feel we will be seeing GAX on the up and up again.

Crikey, even at these rediculous low prices and if we only go back to prices a few weeks back in the $40`s, that`s a 50% gain and I can quite easily see this doubling over the short term, maybe even a treble, because the stock price is currently so cheap.

Hope this helps and have a good weekend,

Hi all
I was rooting around and found this post on another board.
Kind of makes sense?
If anyone has heard a similar story, let me know.
All the Best
GMan

Galaxy Energy Corp sym (GAX) (secret) $0.27 cents.
Market cap 20 million.
Drilled 3 wells in Columbia river basin with exxel energy(canadian) symbol- (EXX).Keeping results under rap.Exxel just tried to buy out Galaxy's 25% interest for 45 million.No Deal says Galaxy.Must be real big find.
Galaxy sells powder river assets to Petrohunter for 50 million.Wow only 19 million market cap on this baby.Funds to be used to drill many more wells with Exxell in the Columbia river basin.Total 6300 acres.The Piceance Basin

The Company controls approximately 6,000 (1,500 net) undeveloped acres in the Piceance Basin through its wholly owned subsidiary, Dolphin Energy Corporation and in partnership with Exxel Energy Corp. The Company has received permits to drill on 10-acre spacing in its areas of current operation and will apply for approval to drill on 10-acre spacing throughout most of its acreage position.In the Biscuit Ranch 10-31D well, all completed zones within the overall interval from 7294' to 8462' have now been commingled, 2 3/8" production tubing has been installed,More: Experts have long believed a 125-mile-long and 60-mile-wide patch of land between the Columbia River and Wenatchee -- shaped like a massive footprint -- is rich in natural gas. So rich, in fact, its potential may be similar to the vast supplies of the Western Canadian Sedimentary Basin in Alberta and British Columbia.

I think GAX has now found it's bottom.
It's been holding in the low 0.20's for a while and the avg daily volume has more than doubled. 400K shares yesterday and 703K shares today up from avg of 200K.

No "official" news yet.
I keep hoping....LOL!

Short-term KST

The KST, "Know Sure Thing", is an oscillator that combines multiple time frames into a single measure of momentum for a financial instrument. It can be interpreted in the same way as other smoothed oscillators but most commonly indicates bullish and bearish momentum signals as it crosses above and below its moving average respectively.   
Event Date   December 28, 2006
Opportunity Type   Bullish
Close Price   0.20
Volume   405,100
Pattern Duration   1 day
Inbound Trend Duration   0 days
Glossary of Technical Events
Learn More about this event
Event Graph:Short-term KST

Now we know why all the accumulation!
Best
GMan

DENVER, CO, Jan. 4, 2007 (Canada NewsWire via COMTEX) -- Galaxy Energy Corporation (GAX) and its wholly owned subsidiary Dolphin Energy Corporation have signed a Purchase and Sale Agreement (PSA) with PetroHunter Energy Corporation (PHUN), a related party, under which PetroHunter agrees to purchase all of Galaxy's and Dolphin's oil and gas interests in the Powder River Basin of Wyoming and Montana.

Under the terms of the PSA, which was signed on December 29, 2006, PetroHunter agrees to pay a total consideration of $45 million, subject to adjustment, to acquire all of Galaxy/Dolphin's oil and gas interests in Sheridan, Johnson, Converse and Campbell Counties in Wyoming, and Big Horn, Custer, Powder River and Rosebud Counties in Montana. The agreement calls for not less than $20 million to be paid in cash and the remainder to be paid in PetroHunter common stock. Closing of the transaction will be subject to PetroHunter obtaining financing on terms acceptable to PetroHunter, approval by Galaxy's senior lenders, and various other terms and conditions.

The agreement calls for an initial earnest money deposit to be made to Galaxy in the amount of $2 million by January 31, 2007. In addition, effective January 1, 2007, PetroHunter became contract operator of Galaxy/Dolphin's oil and gas interests in the Powder River Basin. On closing of the transaction, PetroHunter will receive a credit against the purchase price for the deposit and expenses incurred by it as contract operator of Galaxy/Dolphin's properties. If the transaction does not close by February 28, 2007, the total amount of the deposit and operating expenses incurred by PetroHunter will convert to a subordinated, unsecured promissory note.

PetroHunter is a related party because Marc A. Bruner, a 14.3% beneficial shareholder of Galaxy, is PetroHunter's controlling shareholder. In addition, Marc A. Bruner is the father of Marc E. Bruner, President and Chief Executive Officer and a director of Galaxy.

Either party may terminate the agreement if the closing has not occurred by February 28, 2007. Galaxy Energy has filed a Form 8-K concerning the PSA with the Securities and Exchange Commission.

Dolphin owns an average 86% working interest in 197 oil and gas wells in the Powder River Basin. Twenty-two wells are currently selling gas at an average rate of 850,000 cubic feet a day. The remaining wells are in various stages of dewatering, shut-in waiting on pipeline, or waiting to be completed.

About Galaxy Energy

Galaxy Energy Corporation, a development stage oil and gas exploration and production company, is focusing on acquiring and developing coalbed methane in the Powder River Basin of Wyoming and other unconventional natural gas properties in the Piceance Basin of Colorado, in addition to exploration activities in Germany and Romania. The Company conducts its exploration activities through two wholly owned subsidiaries, Dolphin Energy Corporation and Pannonian International, Ltd.

Almost 1M shares for sale by company owner Marc Bruner.
Can anyone tell if this is dilution?
Thanks and Best
GMan