GGE 0.00% 0.6¢ grand gulf energy limited

$8mil market cap - 1.2mmbo

  1. 4,493 Posts.
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    Fact Rundown:

    Well One:
    The first well (see below) is testing the Big Hum and Operc Sands with an amplitude
    anomaly targeting 1.2 MMBO and 3 BCF gas. If the well is successful initial flow rates are expected to be around the
    200+ barrels of oil per day and 1,000 MCF per day. Total dry hole costs are estimated at US$800,000.

    Well Two:
    300,000 barrels of oil and 1.2 BCF of gas. If the well is successful initial flow rates are expected to be around the
    200+ barrels of oil per day and 500 MCF per day. Total dry hole costs are estimated at US$700,000.

    Well Three:
    The third well is testing a primary objective in the Big Hum sand with 5 BCF classified as a PUD and targeting further
    exploration upside objectives in the Tex W of 100,000 barrels oil. If the well is successful initial flow rates are
    expected to be around the 5,000 MCF per day and 100+ barrels of oil per day. Total dry hole costs are estimated at US$800,000

    Craig Ian Burton (look him up if u dont know him) Added as a major Shareholer with 119,644,228 or 12.7% recently

    Director Buying - extra 4mil shares in March

    Spud date - 3 weeks or there abouts!

    Please add more as this is brief but good for ppl wanting more info to get on the good Spec stock for the upcoming drilling programme.
 
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Mkt cap ! $12.57M
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Last trade - 15.54pm 20/06/2024 (20 minute delay) ?
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