G'day Vilsters.Reply to an email from Hiten (thanks Hiten) on...

G'day Vilsters.

Reply to an email from Hiten (thanks Hiten) on the GGP forum regarding Fausse Point;

"Dear Hiten,

I am sorry it has taken so long to respond to your email. Very busy on a number of fronts.

We have a lot happening with the acquisition of the leaseholds in the Permian Basin (Wolfberry Trend). In April we will be coming out with an investor presentation which will describe the project in detail, upcoming drilling, and overall objectives including milestones.

You asked about Fausse Point. Over the last year a lot of very encouraging Seismic work has been done at not only the Fausse Point prospect which we drilled but over the entire Fausse Point Salt dome. The preliminary results from this work and follow on activity will also be presented to the market in April.

Regarding Bullseye, we acquired an additional 12% interest from one of the existing partners who are an investment fund out of New York. They elected to leave the project as their objectives had changed regarding the fund and the price paid was recoverable from production over a very short timeframe.

We are currently preparing for further activity at Bullseye this year. More will be released in the coming weeks.

Regards, Steve."


Mug.