step aside ctp...gge is in town

Well CTP has been a nice comparison for GGE so far, but today has shown just why GGE could be in a league of it's own, albeit on a smaller scale.

We have 118ft net pay, they 'had' 135ft net pay. We have oil that flows, they have oil that flo...oh wait, it didn't flow for CTP....bugger. We know oil is flowing at D&L2 because firstly the well was so strong that it blewout initially, and then on site engineers unofficially recorded over 3000 barrels of oil flowing out of D&L1 in less than two weeks. We also have some residual gas in the well that could top up the BOEPD figure we are all expecting soon.

In my eyes, the only minor risk here is that the water contact could be too high and thus all the oil won't be recoverable. But that is a risk with every single O&G well that has ever been drilled. That, I believe is the only thing holding this one back from rallying back up towards 2cents. Don't get me wrong, this is still a specualtive company, but we know we have a well that flows oil, and quite a promising one at that.

Ohhh....just one more thing, GGE up 33% today, CTP down 25%.

No offence to CTP holders that read this, but one company has headed in the right direction today, while the other one has fallen off a cliff.