I think they have LOST a real asset. If you want word perfect then GIVEN AWAY would be closer.
Whatever the excuse the company uses in an announcement, the fact is they have GIVEN AWAY an asset for a LOSS at the very time it will start to produce income. The company has previously advised that the first well would be produce between 800-1300 bopd at the start. Company share would be 80-130 bopd. This is MORE than the whole production the company has coming out of the permian after 18 months of drilling. The eagle ford time frame is alot shorter.
If you believe statements from this company it is at your own peril. Just have a look at the share price chart. At least that doesn`t lie to you.
All the best, but I have written off my holding as I reckon we will see .001 and then LIND will run as well. Even the sharks will be running away.
GGP Price at posting:
5.0¢ Sentiment: Sell Disclosure: Held
