GGE 25.0% 0.3¢ grand gulf energy limited

Ann: Quarterly Activities/Appendix 5B Cash Flow Report, page-19

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  1. 717 Posts.
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    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 .


    https://hotcopper.com.au/data/attachments/5467/5467882-f907ad86ce080e3e87feb883e702abf1.jpg






 
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