Did you know that Greenwich Resources owns a large chunk of Desire ?!

10 facts about Greenwich Resources (GRWA)
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Responsible Lad - 01 Jan'02 - 20:37


I looked into Greenwich Resources through Hemscott and there previous RNS anouncements from 97 onwards. I found 10 interesting facts,

1) The Director S L Phipps is onboard both Desire Petroleum and Greenwich Resources

Desire Petroleum PLC
Directors

Executive Non-Executive
Dr C B Phipps (ch) W I L Forrest [RA]
Dr D H Quick
S L Phipps
Dr A J Martin [RA]
Dr I G Duncan [RA]




Greenwich Resources PLC
Directors

Executive Non-Executive
J G Bovard (ch) S L Phipps [RA]
Dr D H Quick (ce) A T Roberts
P S Bridges J A Corcoran
Dr P B Mihalop


2) The Chief executive C B Phipps used to be a director of Greenwich Resources

RNS No 0820u
GREENWICH RESOURCES PLC
7th May 1998


Greenwich Resources announces that it has today sold 320,000 shares in Desire
Petroleum plc reducing its holding to 6,555,000 shares representing 13.85% of
the issued share capital of Desire.

The Board of Greenwich decided that it was prudent to make the sale in order
to recoup the cost of its original investment in Desire. Following this sale
Greenwich will continue to retain a major stake in Desire and remains
confident about the long term prospects of Desire. The Board of Greenwich
does not anticipate any further share sales at the present time. Greenwich
directors Dr C B Phipps and S L Phipps did not participate in the decision to
sell shares as they are also directors of Desire.

The first round of drilling has now commenced in the North Falkland Basin with
a well being drilled by Amerada Hess. Desire has a 25% interest in an
exploration well to be drilled by Lasmo commencing in June or July 1998.


Contacts: Dr David Quick Chief Executive 01684 892550
Mr Peter Bridges Exploration Director 01684 892550


3) As we all know by now Greenwich Resources owns 7.3% of Desire Petroleum

Desire Petroleum PLC
Major Shareholders
Major Shareholders:
107.39m 1p Ords - Phipps & Co Ltd 21.35%(dup), Greenwich Resources plc 7.39%, Westmount Energy Ltd 5.18%, S L Phipps 21.35%(dup), Other Dirs 2.75%.


4) Greenwich Resources prelim results date is forcast for Tuesday 8th January, which will update us on the situation

Greenwich Resources PLC
Key Dates

next AR year end 30-Sep-01
Previous Forecast
_____________________________ _____________________________
year end 30-Sep-00 prelim results 8-Jan-02

prelim results 8-Jan-01 annual report 17-Jan-02

annual report 17-Jan-01 agm 14-Feb-02

agm 14-Feb-01 int results 28-Jun-02

int results 28-Jun-01
_____________________________ _____________________________


5) Could the new Euro help Greenwich Resources import and export their coming gold production in Greece without any current exchange costs?

6) Gold and Silver prices rose in the last week of December and they usually do well in January, therefore gold/silver could rally this month

7) Similar penny share stocks such as Atlantic Caspian, Emerald Energy and GTL Resources all rose on New Years Eve

8) Over one million buys on Friday leaving the shares up 0.5p (28%) on Friday with a market capital of 3.37m, leaving the shares up for the first time since the begining of Aughust according to the graph

9) Non executive Director S L Phipps of Greenwich Resources owns 21.35% of the 22.28m market capital of Desire Petrolium and Greenwich owns 7.3% leaving the rest of Greenwich valued at about 1.5m on the current share price

10) The market makers tightened the spread to 2.25p ask when the shares trade for 2.25p, a similar trick they do with many companys when they are on the rise up


Those are my ten reasons why Greenwich Resources should benefit for the year 200. There is one downside that they do not market their 70m gold until the year 2004, although they could mine elsewhere to and fasten it up with more money they need to raise after the 2p rights issue is over.

Happy New Year
Responsible Lad