The Cormorant prospect is obviously more advanced with 3D seismic shot over it, and it is about to be drilled.
GBP's main Gemsbok target is many times larger, but I do notice the probability of success (POS) is only one in eight. This seems a little low.
So I have a few questions Wildcat:
- does 3D have the potential to increase the POS? If so what are the likely ranges it could increase to.
- do you know the POS rating given to Cormorant following the 3D.
I am not sure if I have the patients to hold on to GBP. PCL was acquiring and farming out the Cormorant prospect back in 2012/13. It has taken over 5 years to get to this point. And I personally think the GBP directors live on another planet..one that is not adapted to running a small ASX listed entity.
GBP Price at posting:
3.6¢ Sentiment: Hold Disclosure: Held
