GOG great artesian oil & gas limited

I am beginning to suspect that even if Murrippi is a producer,...

  1. 818 Posts.
    I am beginning to suspect that even if Murrippi is a producer, the sp wont change. Beach Petroleum the 40% partner are being dumped by traders. Maybe its a knock on effect? The drilling success rate of Bpt is 43%. The success rate of GOG is about 0%, so we are about due for a win.
    However there does not seem to be any certainty in the quarterly report about future drilling. In PEL106 only "possible drilling in Q2 08" "Farminees Beach and Blue MAY drill up to 6 wells" That could mean only 1.
    PEL107 only 2 locations for drilling by JVs in 2008.
    It all looks a long way away.
    They have been very good at pumping their gums with grand statement like "Poised for growth", and "poised for success". Also their forecasts on the number of wells to be drilled has been over optimistic.
    What is all that about the gas processing facility studies? They don't have any gas to process!!
    Its all pie in the sky...maybe late this year we may see some action??


 
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