fourfold increase ?, page-37

Hi Ewob,

Have updated my excel spreadsheet after the half yearly and later this week will establish GGP into an MYOB accounting system.

There was same checking required with capital raising in Decemeber but I am noW confident I have got the balance right.
After todays update I have reduced oil sales from the PB this quarter and delayed drilling/fraccing expense.
By paying all payables due at dec 30 and cod all expenses in Jan and Feb the company has $5.2mill at end of feb after the SPP. This is with $900k in borrowings.

GGP needs at least one good producing well in the PB with the 3rd one appearing on track. Should gross $350,000 in production for March.

GGP has tried to keep $2-3mil in funds and as can be seen in half year report has terms with suppliers, but at present I COD everything as cash in cash out.

So not a hell of alot of cash for new land but the company has grown quickly since June with hardly any cash. More acerage will add more value to the company.

Its prospects in the PB look great and with talk of horizontal zones from the 4 wells drilled to date then money will come as is already been discussed in JV talks.

Keep up excellant charting work.