GGP 0.00% 0.6¢ golden gate petroleum ltd

Hi EMC2,I wondering if management, after this announcement, may...

  1. 174 Posts.
    Hi EMC2,

    I wondering if management, after this announcement, may get some interest from some of the big boys like Chesapeake who may want to farm in similiar to the way Samson Oil ( SSN ) have done.

    This way they potentially would not need to do either a CR or instigate a debt facility... especially if the farm-inee ( not sure if that is a word ) paid 100% of the costs and GGP was free carried for the first few wells...

    If their verticals wells continue producing anywhere near what this first one has ( although we need to wait a little to see if there is any drop off in flows -- if any ) then I wouldnt be surprised about the above scenario...time will tell.

    Although it would be nice to avoid a CR, I think they may have a little issue with obtaining a debt facility as financial institutions are forcing companies to jump thru hoops to obtain loans and will continue to do so until this European mess dissipates**

    Good luck to all GGP holders!


    **if it ever does
 
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