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This is the story on GGR..


This is what one Analyst can do to a stock - "Murphy's Law"


NEW YORK (AP) -- Shares of GeoGlobal Resources Inc. plummeted Friday after
an analyst said the oil and gas company's assets don't justify the price
of its stock -- which made a spectacular run in 2005, soaring from a
penny stock to close to $15.Canada-based GeoGlobal's resources are focused
primarily on the Indian subcontinent, where the company has both oil and
natural gas prospects. According to Jefferies & Co. analyst Leo P. Mariani,
GeoGlobal has had limited success in its onshore properties, and the
likelihood of large discoveries is low. Offshore, the company discovered
India's largest gas reservoir, but to date, only one well has been drilled.
Meanwhile, low gas prices in India, long reserve life and the company's 5
percent net revenue interest limit it in the near term. "We believe that
there is a lot of potential in the Company's properties, but there are
currently no reserves booked, no production, and no cash flow," the analyst
wrote in a note to clients. Mariani initiated coverage of the company with
an "Underperform" rating and $7 price target. GeoGlobal shares plunged $3.97,
or 28.3 percent, to $10.05 in midday trading on the American Stock Exchange.
The stock traded at a low of 77 cents a year ago and climbed to a recent
52-week high of $14.92.

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