A positive outlook:

"The new corporate plan for 2010 is to now focus the company’s financing and operational activities on both generating revenues and cash flow from its Pincher Creek, Turner Valley and Noel properties and completing the pre-feasibility study for the Pasquia Hills oil shale deposit. Management believes that the successful execution of its conventional oil and gas project focus and completion in 2010 of its pre-feasibility study to prove the commerciality of developing its oil shale deposit will have a significant impact on the company asset and market value."

-Page 14, MD&A, Dec. 1 2009

It seems like we have obvious potential to make huge gains in 2010 and beyond. Share Value in my opinion hinges on,

1) the ability to generate significant revenues from the conventional plays;

2) proving that oil shale extraction, leading to the sale of commercial-grade oil, is possible and profitable in the medium-term. (2 to 5 years IMO)

From the Chapman Report:

"Best Estimate: 1,878.4 billion barrels oil (oil shale distillate product)"

---this is valuable.

Share Price, depends on the above factors, but more so on the publicity we receive, and the credibility we earn.

Right now I think our credibility is hurt by the memory of the cease trade order, our ridiculously low share price, and the uncertain ability to raise funds to meet our tie-in obligations, and to purchase the promising plays we are helping develop.

Publicity remains an open question. GNZ was widely traded on the TSXV when the initial estimates of recoverable shale oil came out. The land in question has not changed since then; our share price has plummeted, but the price of oil looks to maintain a slow rise, for the time being.

We have potential.