Apologies for being offtrack with my last post being the referral to me as in the same class of strikemedead being accused of his ID. Didnt even think of that to mind until now you reminded me of it.
GGP has been in the wars over enough issues and Ive sat on the fence to both sides, very mindful of the defamation issue and biting the tongue in so many ways as not to alienate posters here. I dont agree with everything that is posted, some I comment some I ignore.
In my way after the last few months, I see that management has had to reinvent itself in a way to be more economical and more proficientin its faced crisis. Cutting off non core assets that were non productive, especially the Cutlass saga of being operated by another entity and its problems. Early advancement of production would have helped here a little to pay its way, but instead being stalled by partner disputes sealed the fate for disposal of instead of costing more to GGP.
Sad but unavoidable at this point of time to save the PB leases which were more important. Down sizing the main PB leases to just over 5000 acres to a more efficient unit to manage on a drilling program of a well every 120 days is sustainable subject to flowrates from existing wells and topped up funding. Each new well contributing will help its causes.
Existing production to the day is giving about 100b/day and ideally we would like to see the combined total from 1,2 and 5 wells being fracced now to be able to add in my eyes at least a combined total of another 500+/ day.
600 total per day from all wells would give about 18,000/ month in net barrels say by $80/barrel in the vicinity of $1.44m/ month minus expenses, nearly enough for a vert. This is only rough but my point is that its a lot better than it was previously and hope is still there and can only get better with the more wells put in and producing.
Another soonish hori in production would make this a quicker increase in the revenue stakes to be a more viable company to invest in.
Slow and easy hitting targets every 2 mths is imperative to retain the rest of the PB leases is essential under better management stratergies being brought forward.
I'll wait for the knockers now to come but its my view only if current ideas are used and with whats at hand now. necessitate the PB leases drilling program before other outside interests as such the Arcadia, Goliad and Jim wells projects.
BTW , I would like to have it explained how the Jim Wells project came into being as we were only recently told about it. More info when it was acquired etc would be handy. Is it a left over from the pre Kindee days of FP.???
GGP Price at posting:
7.5¢ Sentiment: Hold Disclosure: Held
