GGE 0.00% 0.6¢ grand gulf energy limited

buying support, page-34

  1. 568 Posts.
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    housejunkie,

    A bit of a play on words. The operator of the project is GGE. The wells were always going to be contracted out and this was no secret. In April GGE stated

    "Drilling of the first of three initial wells is scheduled to commence in early May. A rig has been contracted and drill site/permitting are complete."

    Again in may the contractor was mentioned;

    "Location building operations have been
    completed and drilling permits are in place. The
    rig is contracted and the Dugas & Leblance # 1
    well is the next well on its drilling schedule. The
    latest update from the rig contractor is that the
    rig will be released within the next two weeks."

    I can see how this confuses people as the initial announcement stated that GGE was to remain the "operator" to keep costs down (or something like that).

    There was never any secret that the drilling was to be undertaken by a contractor, Mantle Oil and Gas LLC in this case. I can see how the confusion may have come about.

 
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