Yes i seen that report in the first part of the announcement. But if you keep reading down further they are still looking at stimulation on Jesse-2 well.
If you look (at the screenshots below), further down in the announcement , it talks about evaluating stimulation on Jesse-2 based on feedback from Blade Energy... with a short radius horizontal drilling.... Jesse-2 well is consistent with Doe Canyon field . This is where the company is evaluating stimulation based on Blades Energy feedback....
IMO if Jesse-2 is consistent with Doe Canyon field Jesse-2 well , this is where we should start simulation workover first.
My interpretation of the announcement is that the BOD haven't really made up their minds on whether to stimulate Jesse- 1well first or Jesse-2 well first , because Jesse - 3 well location hasn't been confirmed and submitted Yet , this is my understanding .
GGE need to get a Commercial flow rate and stimulation happening on Jesse -1well or Jesse-2 well first before doing a stupid Capital Raising at these prices for Jesse- 3 well drilling . Surely the BOD can see this is a better option for all Shareholders and Directors sharesholdings .
GGE Price at posting:
1.1¢ Sentiment: Buy Disclosure: Held
