GF3 Spudded - Gilbert Freeman 3, the seventh well in the Rayburn drilling program, spudded on the 6th of June (Texas time). At report time the well had reached a depth of 2,635 feet (803 metres) where 13 3/8 inch casing had been set as planned.
So, based on the excellent research on this board, we know D4 will be drilled right after GF3. With GF2 and D3 to come online in about 6 weeks' time, our monthly revenue will be closer to 4mn per month, which was their target level. If both D4 and GF3 are successful, their monthly revenue would be closer to 5mn. Imagine that... annual revenue of 50-60mn in FY09!
How is this stock not a screaming BUY? :o)
618
PS. Am happy for the stock to stay where it is as it has given me so many opportunity to top up. As I have mentioned elsewhere, the market can ignore the production rates, they can even ignore the reserve data when it comes out in August/September, but they sure as hell can't ignore cash in bank!
another announcement, page-4
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21.5¢ |
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Mkt cap ! $616.0M | |||
| Open | High | Low | Value | Volume |
| 22.0¢ | 22.5¢ | 21.0¢ | $4.542M | 20.80M |
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| 2 | 343465 | 21.5¢ |
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| Price($) | Vol. | No. |
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| 22.0¢ | 563407 | 9 |
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