Totally agree with the posts on this thread to date. A working open forum at its best. Some great points cmonaussie. It accurately describes the companies position.
What got me started was that at the exact time when you expect SG to be pumping as much cash flow as he can he hasn't and that appears to have been in his plan. He has isolated the cline which appears to be where the great results came from in SRH 1. It appears it will be saved for later, a JV horizontal play perhaps?
So he has by choice had the company in 2nd gear yet still achieved to cover running costs. His confidence to invest in other plays when not operater is a change from his norm. Did he have a JV partner nearly over the line as announced In April update but squezzed just a little too hard trying to create best value. Certainly there are many companies wishing to get into the PB.
Like yourself I think the time has come to provide current shareholders and future shareholders some of his vision for the company. This low shareprice can benefit capital note holders who may have invested when the future was not as solid but even they would benefit in having an investor update or a company resource estimate announced.
I agree with the EF play and estimate the company will treble its monthly income by November, a surperb result, but I don't want to wait till then to hear from the captain. SG must have something up his sleeve to pay for Arcadia and the companies development of other projects. I am sure he would realise that tapping the market is only possible when investors believe there is upside to their investment. They demand to know whats going on, Even that unfavourable outcome requires the announcement of a company vision statement. As we are geting the exact opposite for quite a while now it does appear that SG has not been planning a raise from the market. If another capital raising had been part of the funding in SG's plan then i believe the taps on all 4 wells in the PB would have been wide open prior to june 30. The recent $3 mill raise appears to not have been planned but required for oppotunities like the EF and the spudding of Bowtie which had been on hold for 2 years.
I think GGP can beat the odds in the PB. SG has recognised he needs a partner for horizontals and the company just happens to have acerage that testing has shown is 3-4 times larger than original estimates
Much of SG's plan is revealed in the companies assets. It is certainly of a much higher quality now than june 2011 when jumonville 1 & 2 held the companies future in its hands. GGP has come along way in 13 months.
Getting the drilling and development paid for by a JV or free carry will be the next milestone. Lets hope that to is just around the corner
GGP Price at posting:
1.1¢ Sentiment: LT Buy Disclosure: Held
