well#1 upgrade...

Morning holders!

I hope everyone's having an enjoyable week? I've just returned from a nice little break with my family and to come back to see GGE looking fantastic both FA and TA.

At a glance...

Well#1

- 33% upgade in net pay from 120ft to 160ft containing BOTH oil and gas.
- Flow rates of gas estimate increased 100% from 1,000 MCF to 2,000 MCF per day
- Flow testing commenced overnight

Well#2 & 3

- Well#2 to spud later this month and Well#3 in September
- The next two wells are targeting a total of 7.4 BCF of gas and 700,000 barrels of oil at shallow depths from 5,000 feet to 10,000 feet with the majority of the targeted potential classified as low risk proven undeveloped reserves (PUDs).

Other FAs

- Cash at Bank $955,000 plus available laon facility of $1,667,000 = $2,622,000
- Cash required for Q3 is $2,100,000
- Available cash moving into Q4 is over $500K with sales starting to come in???
- Potential for 520 BCF and 4.5 MMBO
- Over 60 prospects identified to date
- 50 Square Miles of 3D Seismic
- Historical Production of 188 BCF and 20.2 MMBO.
- 5,700 leased acres

TA at a glance

Looks like we could be in for a breakout this week IMHO. If not today we'll certainly experience a third time lucky scenario before the week end IMHO. All indicators looking very bullish.

- Retesting 2.1c resistance
- MACD recent crossover avoided and now diverging again
- Bolli's starting to pinch again
- MFI and RSI both very bullish



Of course AIMHO and please DYOR...

:)