GRL up 3,85% and EXR up almost 22% on ASX. Wonder what to expect on LSE today, where EXR is also listed.
Elixir have their biggest shots left in the canon - Leopard, Parther and Angesley.They have drilled 4 wells so far without luck. Farmouts on Leopard and Panther could lead to cost free drillings, keeping the higher stakes on each well still. Now with secure fundings at hand(via GRL production/assets), EXR/GRL might be able to drill all 3 during 2008, pending the rig-situation in the North Sea.
If lucky in any of the two majors - Leopard and/or Panther - we will get very, very rich. Most likely we will see rally during the drilling periods, which we also saw with Guinea and Jaguar. Current LSE price for EXR is 12 p, during the Jaguar drill this reached 43p.
I too look foreward to see next 6-12 mts. Let´s see the rocket fly. :o)
GRL Price at posting:
0.0¢ Sentiment: Buy Disclosure: Not Held
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