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Gold/Mining/Energy : Goodrich Petroleum Corporation (GDP-NYSE) -- Ignore unavailable to you. Want to Upgrade?

To: William JH who wrote (11)	11/3/1997 6:50:00 PM
From: William JH	Respond to of 12

To all - I talked with IR at GDP today. I'll try as best I can to relate the gist of the conversation. May I say that they were very courteous and answered all my questions. 1. How did it come about that GDP has so many (41.8mm) shares outstanding? A. On 8/95 those who held Patrick Petroleum partnership shares got 19mm GDP shares, and La/Cal Energy Partners got 19mm GDP shares. So there were 38mm shares on day 1. Then there were conversion rights on a preferred issue which added another 2.8mm. 2. Are there any plans to do a reverse split to get the stock price up? Not at this time, although it has been discussed, and the company is aware that there isn't much institutional interest at this price. 3. The King's Ridge discovery has 200 ft of net pay. Some of the other wells have as little as 6 ft net pay. Does the amount of production always correlate with feet of net pay? A. Usually but not always. (As a general rule). 4. Is King's Ridge going to be oil and gas or just gas? (They didn't want to comment on this, but said that discoveries with oil and gas were more valuable than gas only. They also said that they were pretty sure of what they had at King's Ridge, but are waiting to issue news on the results. Also, they are trying to obtain more acreage there). He said that it is very early in this well's life and usually they don't give out info this soon, but had done it in this case because of the high volume of trading in the stock. The gentleman I talked to was very upbeat (that's his job) and said that management was excited about the future and in for the long haul. Personally, I would sure like to see the stock make a new high in the next couple of weeks. Over and out.