still believe gge=ssn, page-3

Agreed JN007, we've hung in there and now we will reap the rewards.

I don't want to promote myself, but I've been harping on for about a month now that D&L2 was likely to be a success, and what a success it has been!

Anyways down to the business of what this all means for our investment.

Ok so the underwriters will most likely support the SPP. That alone will fund our endeavours at D&L3 and Mound.

Picture this...

By my calculations D&L2 should provide a steady 150-160 BOEPD for GGE. That's after accounting for declines and our 40% stake in the well. D&L2 only intersected the edge of the N sands and this produced a company making sort of production flow for us. Now when we go after D&L3, it is almost guarenteed that the N sands will produce a similar (or better because of a large oil column) flow rate to D&L2, but we also have to look at the O sands which are an important gas structure at NV. If the O sands give us around that 800-1000 MMCFD figure (after declines) then this would contribute around another 150BOEPD to the well. GGE would have about 50BOEPD from this.

Pretty much success at D&L3 is nigh on a certainty now, but it all depends on how much it flows.

In my opinion we could be looking at...

D&L2 = 150BOEPD.
D&L3 = 200BOEPD (larger N sands) + 50-60 BOEPD (O sands)

Total = approx 400BOEPD from two wells alone!! We can achieve this during Q1 2011 if we efficiently drill D&L3.

400BOEPD would be worth on a conservative level about $45M to the company. Factor in we are $5M in debt, then we have a company potentially worth $40M+! However because we have to raise about $10M in capital at what will be a pretty high dilution rate, we will probably have to cut back that market value to around $30M once all expenses are paid for.

At the moment the market values us at a mere $7.5M. From D&L2 and D&L3 alone, we are looking at a likely 4x gain in market value from today's close, and this is conservative!

If you're standing on the sidelines considering a dabble in this play, get in at these cheap prices while you can. GGE has come back from the brink of death, and it is now staring down the path of success!!

I haven't even looked at Mound or other potential drills yet, but my share price target for end of Q1 2011 is 2.5-3cents on the back of D&L2 and D&L3 producing at good rates.

Today's announcement surpassed even my own optimistic expectations and I think we will see some strong buys in the comeing weeks as the market realises what is really going to happen here! For such a minnow company, things are suddenly looking mightily impressive!