great announcement - my view, page-40

Sorry guys if I'm repeating other posters as I haven't had a chance to read the VIL thread today and I'm on holidays...my wife wont be too happy if I spend all evening on HC!

Below is two bob just posted on GGP thread...

Well, well, did I pick a good day to be away from the markets? Spent the day with my family at Dreamworld and Water'n Someting.....hasnt changed much since I last visited 20 years ago!

Fantastic announcement...

- Drilling has encountered over 300 feet of quality hydrocarbon bearing formation

- Mudlogging shows good quality sandstone with hydrocarbon fluorescence and up to 2% oil in drill cuttings and mud

- Electric line logging has identified hydrocarbon occurrences throughout high permeability and porosity sands

- AND TOPPED OFF BY A NICE LITTLE SURPRISE... An additional 80 acres of adjacent land has been secured....THIS SURE IS A BOOST OF CONFIDENCE!!

I must admit I was expecting both VIL and GGP to finish above 5c but unfortunately given that VIL has pretty much been raped by traders and the fact that they cant wait out the flow testing meant that we closed the day lower for both coys.

IMHO I think the traders dumping on VIL greatly impacted GGPs chance of finishing higher more so than the wait on flow testing. Not too sure if this has been mentioned by others but it is normal procedure to regularly update the market as soon as the flow testing commences. And given the various gas kick experienced during the drilling, when they first open up the choke on this thing it will rip IMHO! Something most traders seem to have forgotton. ;)

As I've previously mentioned this stock is in for a steady rise and I'm looking forward enjoying the ride!

I must say it was a little disappointing that I wasn't around today to join in on the carnage. Would have been a good opportunity to convert more holding to free carried.

PS - As a recent holder of GGPO I'm not too concerned about the suspension. I'm sure they sort out their little "faux pas" and they'll be back trading again soon. Its not like the coys is on the verge of bankruptcy!

Cheers,

Arkie