GGP 0.00% 0.6¢ golden gate petroleum ltd

fp stands for fancy pants, page-5

  1. 1,038 Posts.
    Yeah, saw that too Sentia. Maybe related to next week's mooted announcement?

    Both have mentioned points regarding FP that are over and beyond any released info, so may be a sign? Good to see both MD's releasing a few nuggets of gold for us prospectors to pan for. Another 15% for a 30% total? Got no idea. Pure speculation.

    I, like some others, had not expected 49.2 boepd from D&L#2 and #3 (so far, GGP's share). Bullseye's J#1 and 2 together are producing at 73.6 boepd and has been the best producer for GGP for a long while. Did not expect the Napoleonville wells would be vying for best producing lease!

    Gives perspective on GGP's current low base compared to others. Also how important a good producing FP well would be to GGP's financials. An unsustained 500 bopd was FP#1's initial figure, so maybe.

    Tack on Silverwood's huge 5.7 bopd and there's the suite. I get a daily boe figure of 128.5. Goes to show how important even one producing well in the Permian is to GGP's bottom line. GGP's average of Broad Oak's production next door is from memory 120-130 bopd/well, so a doubling of production on one well alone is fantastic! That's if #1 well is average.

    Remember, <1% dry hole risk, and "initial wells" are funded. First 10 well sites are on the Permian presso 6 weeks ago.

    Net monthly revenue is $164,000 (before D&L#3 flow). Only two average wells into the Permian has us >$1.5 million net revenue for each quarter.

    Funding for one well a quarter, with no dilution? A long way from our current position! And before the end of the year? Maybe. 6-8 weeks from spud to revenue.

    Please check my maths and logic, but not far off I think. Expecting some hiccup along the way (prudent with GGP), but bullish as. I am a Taurus after all.

    Mug.
 
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