GGP 0.00% 0.6¢ golden gate petroleum ltd

update out, page-19

  1. Dis
    3,746 Posts.
    The main target in the 3rd well is Big Hum and it is all gas. If they have only got Big Hum for this drill then it may also be all gas. Perhaps more than the original estimate but not sufficeient to compensate for the oil. Lets say they get 5BCF gas rather than the predicted 3BCF. Thats only about 0.4mm boe in cash terms.

    Othe the othe hand they may get lucky and get the oil at Operc too. But have to spend money on a second drill, thereby doubling their costs.

    Not the best of results
 
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