time to fully digest todays announcement, page-29

I probably haven't made myself very popular with some of my last comments but I am being honest from my perspective as a non VIL holder but with an interest in what happens so far as GGP's involvement in FP-1.

Now:
"Simply put where is the condensate prodctn data? We were told it was increasing - yet now we are told it is nil?

Apart from condensate the production numbers otherwise given are so low that there is no way such long period of time was justified."

Yes an interesting point there blastoff. In fact if you study the GGP QR carefully there would appear to be an effort to create a bit of a smokescreen.

The first page gives a general summary of some details and is then followed by 2 pages of information about the Permian Basin prospect that GGP had "acquired" on July 29th
.....ONE MONTH after the June quarter ended. Yet it gets number one billing spot.

The on page 4 we get a rundown about Fausse Point. Right at the beginning we get some production information which is supposedly the production up to June 30th. Except that it isn't. The figures quoted are the ones from the first 72 hours of testing back in January. No update about what production flows they got in June. And certainly nothing about the "open throttle" production in July.

Ah so it is alright to talk very fully about a project picked up 1 month after the quarter was finished yet remain very tight lipped about production information from FP-1 up to the end of June let alone up to the point in July when they have learnt enough.

You get my point ?

Now some of you might take that reluctance to divulge the production information as indicating it was a waste of time and resources. An indication that GGP messed up and should have been out of there and up the hole to this wonderful "oil" months ago.

Well you may be right.

Personally I think that the reluctance to divulge that info is an indication that GGP and VIL still want to keep that info very close to their chests at this stage. Maybe it is GGP (or SG more ) wanting to guard that info in the meantime.

If they get around to announcing an FP-2 by about October then I think they know a lot more than they are revealing at this stage.

We'll see.

NOTE: I Hold GGPO