GGP (ASX) whats going on?

Originally posted by LoveCCE ↑

LoveCCE.... I can understand your frustration but some of your points do need a little bit of clarification if you don't mind me saying.
1."The Jum #2 hole had three targets when they started
primary - CibHaz
others - Miogyp / Camerina"

I think you will find that they identified TWO Primary targets .... the Cib Haz and the Miogyp.

Certainly the emphasis was on getting down to the Cib Haz to test that layer and hopefully find that that held a bigger resource than the Miogyp.
BUT the Miogyp was always the next Primary target IF the Cib Haz proved to be unresponsive (which, unfortunately, so far it has )

2."When management announced the 750bbls (and the market went crazy) they referred to it as the main target"
Well after the failure at the Cib Haz then the Miogyp certainly became very much the main target.
Perhaps a little bit of fudging involved there a bit but this is the oil game.

3."They also announced hydrocarbon shows at Camerina and Marg Vaz - but never announced the results of the tests."

Well they weren't real tests as such. There was no flow testing done there. They just had indications of hydrocarbons in these zones as they passed through and that is all really. Not enough to make any definitive pronouncements on.
A bit of info to tuck away and file and come back to later if they need it.

4."Announcing 750bbls at Miogyp was not that thrilling."

Yeah more would have been good but 750 bopd is not to be sneezed at. How they manage production from J#1 and J#2 so that they get the best out of both is more vital to all of us at the moment I think. A combined 1,100 bopd is better than nothing.

5. "Then they revealed that Jum#1 was producing at much lower levels - by saying that 750bbls tripled production."

The info on J #1 dropping in production had been signalled a number of weeks ago. No big fanfare statement naturally but just a bit of information about production that if you picked it up indicated that there was an increase in water production in the daily flow.

That is why there was comment about Jumonville #2 being updip of J #1 and therefore likely to be a better producer.

* So overall : Information was there. Maybe the less glamorous info was left low key but it was there.