Hi guys,
I have just finished talking to Charles Morgan, the Chairman of GGE on his mobile.
He was rushing to the next meeting but allowed me few minutes of his time.
OK, the rig is not yet in place. There was a delay on the previous job and the rig was not able to move to our location.
The rig is expected on site any day now with the absolutely latest date being the 14th June which is the coming Monday.
The drilling time is expected to be approximately 3 weeks but the target should be hit earlier then that.
I have asked if we will be keeping the rig until we finish all 3 wells and I was told that unfortunately we will not.
The next drill is scheduled for July. I would presume that the rig was booked for another job.
I have also asked if there is cap raising planned to raise funds for drilling of wells 4-8 and I was told that we will wait and see how wells 1-3 go first.
I have asked Charles if it was possible to issue an announcement just to state what we discussed to appease the shareholders and he told me that they are having a board meeting tomorrow so he will raise this issue with the other directors so we may get an ann late tomorrow or Friday morning.
He was a pleasure to talk to and I could sense that he does care about us the shareholders.
I'm happy to sit and wait.
I must run now as I'm running very late for a meeting but I will answer any of your questions when I get back in about 2 hours.
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