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
GGP Price at posting:
2.1¢ Sentiment: Buy Disclosure: Held