I have taken the tim eto research a little deeper today, and the result has been a significant change in view
I refer to announcement 19.3.2012
"GGP has been in discussions with other oil and industry related companies interested in partnering with us in the development of our acreage position which now appears to represent a project several times larger than originally estimated. A partner in this project would provide the added capital to take advantage of the multiple intervals that have the potential for horizontal drilling. It would also accelerate the development program to GGP’s financial benefit"
This is the single most important point in the last announcement.
1. GGP have been surprised at the size of the potential reserve at the Permian. They have stated this before also
2. They have a massive potential reserve, and have come to realise that they need a larger partner to boost capacity for development
3. This statement talks specifrically about a JV that directly brings coin to the table to develop our lease
4. The silence we are getting is absolutely normal when there is confidential negotiations underway.
5. There would be test results, and frac results that would remain confidential for the JV negotiation
I think we may be on the verge of a cracker announcement that is the making of GGP
Just my thoughts anyway
GGP Price at posting:
1.9¢ Sentiment: None Disclosure: Held
