announcements, page-44

Just thinking, who needs company announcements when we have this hot copper team on the job!!
It looks more certain to me that GGP is after more acerage. Sure they may have only enough cash at present for 500-800 acerages but I don`t think that is the issue.
If they needed more cash the could have included the 2nd tranch of the SI raise in the entitlements.
Seven things now stand out.
1/ the timing of the SPP. It was announced then died and then brought backto life with a closing date just a few days before the Auction of land near by.
2/ GGP raised $1.8 million of bank debt last qtr according to the dec qtr report. How much more is available?
3/ GGP has drilled down to 10,000 ft in all four verticals when the majority of all other wells in Reagan county have not drilled past 8,000ft
4/ GGP announced in the last update that it now had 3 levels of shale oil not one.
5/ At this was a big surprise at the time but it now adds up. A log was not done on the 3rd well to give an evaluation of the oil. By not doing this the company kept all its info from competitors. It went straight to fraccing and that well is now unloading oil at an earlier rate than expected.
6/ The 4th well is almost an afterthought
7/ JV and oil industry companies have come knocking on the door.
Its not shareholderss that GGP are trying to keep in the dark it is the competitors.

So as far as announcements go I think we need to get ready.
Tomorrow friday the SPP shortfall will be announced. This should be supportive as it should have received strong support being so far under current SP.
Monday US time and tues here the land auction results are announced.

I think after this we may get JV announcements and the 1st horizontal spud date in quick order. Also an announcement on the 3D survey.

Then there is a certain profit clause for a buy back option that passes by the 23rd.

On top of this we have new pumps going into the 1st two wells and probable daily production, an update on the 3rd and 4th well and 4 other vertical wells that are already permitted.

As long as Greece don`t implod I feel by the end of March ther may be a few GGP parties going on.

It now lokks like the 13th US is now more important for news flow than the 23rd.
Damm busting time