I wouldn't expect too much movement, Charl. The drill core for...

I wouldn't expect too much movement, Charl. The drill core for the Blanche1 well displayed horizontal stress fractures, and the hydraulic stimulation of granite is not technically difficult. It is very likely that the operation will be successful, and as such, much of the upside may already be factored into the SP.

Taking a short-term view, the next significant move for GRK would stem from sector bullishness, a JV partner (possibly for projects other than O.D), or news of further acquisitions.

The frac (or is it farce?) should provide some needed publicity, but it is of limited value to potential partners and investors alike.

That said, I like the price of the FPOs, and am purchasing as it trades below 10c (I would expect 15c once the Inamincka flow tests are completed, rousing general interest in the entire sector). The options also look like a high-return, high-risk play worth having a risky peek at, as they are trading at a low premium with the potential to increase by multiples if the GRK FPOs can appreciate in value by even a few cents. Not too difficult to convert, either, with a 10c exercise price meaning they will not necessarily need to be dumped in order to raise the conversion funds. Very high risk, but as was mentioned earlier, management will be doing all they can to boost the SP so that the options get converted.