bullseye project on back burner?, page-9

I'm afraid to say that it is my opinion that Bullsye was just another example of a constantly overhyped project from GGP.

Anyone whom has followed this from the start will be aware of the contimued reserve estimate downgrades from all three zones along the way even before the drill bit did the talking.

Then we had the 'potentially largest onshore find statement' Ho hum!


I am sorry but the lack of info coming out of GGP, the operator at Bullseye is ominious IMO. I suspect flows have dropped from 800 bopd and the reserve number will be paltry.

I sincerely hope I am wrong but have we another Wilson in the making. Remember the 27bcf claims made by GGP with Pantheon in the UK always stating 9bcf and the well was eventually something of a failure with water inflows and nothing much produced.

I am not based in Aus but locally based private shareholders in GGP do seem reluctant to put the company on the spot. Why don't some of you guys ring them and ask some ackward questions?

Try asking about flow rates... How much is J1 producing...Is the Cib Haz ever likely to be targeted again...Future drilling or not...Timescales...Why the reserve data has been put back...Acosta sidetrack...etc, etc.