1; The original drill program needs to be torn up its well behind and will also be reconfigured.
2; the first two wells have gas issues this is a wake up call to the learning curve of drilling. Whether they produce to the original flow rates we will have to wait and see but there appears to be plenty of oil and gas down there.
3; The third well is on production and leasons learned are being applied.
4: The forth well is waiting for a pumplng unit. The Strawn interval in oil charged potentially opening up a whole hew level of Horizontal drilling. Very exciting.
5: Horizontal no change just waiting
So income will be well down on what was expected but so will expenditure.
The part that really excites me is the increase in potential drilling intervals and what this could do to the overall value of the company.
Ive decided to take the company as if I had invested today, write the last 3 months off ,Im fortunate to be in at under 2c but it wouldnt make a lot of difference. Its been a learning phase for me and the company.
So for me we now have a company with 3 wells that are or will be producing and a forth soon to join and at the begining of an exciting future.
Cheers Whisky
GGP Price at posting:
2.1¢ Sentiment: Hold Disclosure: Held
