early birds club , page-10

re: quarterly update..wombat79 hi wombat79

fair enough, GLX is just a junior small cap.

any oil production will be a bonus..

lets hope they can drill this prospect before years end

regards


Subject quarterly update
Stock Code GLX - GULFX LTD
Posted 30/10/06 11:52:51 AM
Posted by wombat79
IP 218.101.xxx.xxx
Hotcopper Radio GLX on BoardRoom Radio
Post #1337491 - 24 reads
In Reply to msg #1335766

Gee they snuck that activities report in quietly hey what! I almost missed an interesting if brief read.
Well spotted re neighbouring flow rates Sandy. I'm not dissapointed. Don't forget there are two producing wells on this block EACH producing over 500 barrels/day and is well possible to have muliple producing wells. It aint necessarily so that flow rates will be identical for both leases. Of course we wont know till is drilled and if successful will need flow rate testing too. And don't forget the upside potential too;
I figure your math is pretty close per well. Potential cash flow may have dissapointed you Sandy but don't forget to cross reference it vis. GLX market cap, which at 8 mill approx would demand a re-rate with such income stream.