Afternoon all,well I have been doing a little more...

Afternoon all,

well I have been doing a little more reading/research this weekend and I am feeling very at ease with what is happening with GGP at this stage of my investment.In a lot of respects it's not so much what GGP are doing but,more what others are doing.The inflection point is how Range Resources have described their current situation,so I thought that inflection point was a very apt description for GGP's current status.

I have stated many times here how other coy's are moving towards our acreage,increasing their forward expenditures,moving those budgets towards the Wolfcamp and now the Cline.

As posted previously Devon,who are a big player and a world wide oiler,is moving towards the Cline with gusto !Have a read of this ann from a couple of weeks back.They state where and what they are moving to and also they are in discussions regarding some further acreage acquisitions,which they are keeping quiet about.

Similar story with GGP.While a very frustrating time for all holders,I am sure the SG and the team are doing the best for the coy's future and of course the best for it's share holder's.While the Terrace Energy story was a little surprising,I am confident that when they did their DD,the $$ involved immediately counted them out.They are just a minor company ( as we are for now ) and as I mentioned earlier they only have bit's and pieces in certain wells.eg; 5% 15% 10% etc etc.In a way,I think it is a positive that they have turned away as it shows us that the project we now have is a substantial one and it will be a game changer for GGP.

So GGP's inflection point is here,right now ! I feel we are in the midst of maturing company.SG has told the market many many times that the board,and himself have been very surprised at just how big this 8,800 acres really is.This is where the market should be reading between the lines and taking note of what the management team are saying.the early birds who digest this news are going to be rewarded many times over ( I believe ) as the 2 cent level will not be here for much longer.

So combining this news,and news and actions from the other players in the area,or the others moving to the area,I feel the GGP inflection point is here.

I am in the middle of constructing a chart ( still trying to work out how to form this chart structure ? I have the information but need help forming the chart,any help would be appreciated.Possibly I can just copy and paste a chart and just add my numbers and names of coy's to it ?? ) on the well applications which have been applied for by other coy's,in the RRC website.The very latest was on SAT morning and was an application from Laredo and is North of Big Lake in the very near vicinity of our drills.

UPDATE 3-Devon raises 2012 spending by $1 bln, targets oil


Wed Apr 4, 2012 2:27pm EDT

* Now sees 2012 capex of $6.1-$6.5 bln

* Devon has two new oil ventures

* May look for a Cline shale partner

* Devon shares slightly higher

By Anna Driver

April 4 (Reuters) - Devon Energy Corp will spend $1 billion more than originally planned this year on acreage acquisition and exploration in shale basins that produce oil and more profitable natural gas with a high liquids content, the company said on Wednesday.

Devon, like most other U.S. exploration and production companies, is shifting capital away from natural gas drilling as prices for that fuel are at a decade low. Energy companies are instead targeting crude oil trapped in rock-like shale and natural gas that can be stripped of valuable liquids like propane.

"We're very confident that there are a lot of oil and liquids-rich opportunities to be found in North America," Dave Hager, Devon's head of exploration and production, told analysts.

In addition to previously announced exploration plans in emerging basins like the Utica Shale in Ohio, Devon said it has amassed 500,000 acres in the Cline shale in West Texas that holds oil.

Devon is also targeting oil on another 250,000 acres in an unspecified location, and the company hopes to increase that position to 500,000 acres, Hager said in remarks broadcast over the Internet.

Devon said it may pursue a joint venture for its Cline shale acreage, similar to its $2.5 billion deal with Sinopec that gives the Chinese oil company a one-third stake in five developing oil and gas formations.

The Oklahoma City, Oklahoma, company now plans to spend $6.1 billion to $6.5 billion this year, up $1 billion from its original budget.

Devon has no plans to use its $7.1 billion cash pile on a large acquisition as some have speculated, said John Richels, the company's chief executive officer.

Richels said he and other executives at Devon have not spent any time thinking about a big acquisition. Instead, the company's cash will be invested in exploration and production projects, he said.

Most of the cash represents proceeds from the sale of Devon's international assets in Brazil and elsewhere. The funds will be held offshore until there is "some sort of resolution on the repatriation tax issue," Richels said.

Devon expects to increase its oil and gas production by 6 percent to 8 percent on an annual basis over the next five years, the company said.

Devon, which currently has onshore operations only in North America, said it may sell some of its Canadian exploration assets if it cannot achieve the scale it needs from those projects. That would not include the company's oil sands operations.

Shares of Devon were up 4 cents to $71.19 in Wednesday afternoon trade on the New York Stock Exchange. That compares with a 2.5 percent decline in the SIG Oil Exploration and Production Index.

Range resources are saying that the Cline is spread over a very wide area.As we and the Geo's learn more about this play,the cost of entering the Cline per drill and the cost of purchasing acres in the Cline is only going to go up.If SG can purchase some "nearby" acres as he has stated he is in the middle of doing,I am very keen to see what we pay because at this stage, I personally believe we are holding a sweet spot and something which CEO's,geo's and many others have been pleasantly surprised at the quantity.