How many acres does this company hold in the PB ? A couple of month's ago ( when they had the same amount of wells drilled ) they had 1,000+ acres but as of yesterday they state they possibly have 840 acres. I worked it out some month's back and from memory ( have to go back through my file ) I added up some 860 - 960 acres. So where are they at ?
At 40 acre spacing, how many more verticals can they drill ? Not that it's relevant because they have no $$ but the confusion in their ann's just continues.
August ann;
GGP has “earned” to date over 1,000 acres on the 771 and 772 leases by drilling six wells. This position gives the Company the right to drill another 15 to 18 wells (assuming mostly vertical wells on 40 acre spacing) on this earned acreage, at any time in the future. We also currently have the right to drill an additional 20+ vertical and 9 horizontal wells on the balance of the 771 lease, under the continuous drilling clause of the existing lease.
Spraberry Dean interval ? Is it not the case that #1 & #2 were awaiting funds to have these two intervals fracked into the verticals ? We have been told for 18 month's now that is the case but now we are told they don't have the Spraberry Dean in #1 & #2 in yesterdays ann. Am I wrong here ?
Finally, the Paul Page legals. No money to frack, drill, pay the power bills, how do they support ongoing legals against Paul Page. They won't in my view ?
GGP Price at posting:
2.5¢ Sentiment: None Disclosure: Not Held
