Any Thoughts. Would seem very unlikely that this has anything to do with the current lease hold of 8806 acres in the PB, given the strong indication of a farm in aggrement in the ann with a 4-5 well carried intrest means from a financial point of view a very good deal for us. If this is the case then we can assume who ever they are in talks with has plenty of cash on hand to spend. So that leaves me more intrested in what the money is for, more land in a joint venture with multiple companies seems to good to be true, one can only hope. If the PB farm in is a done deal (sounds like it is ), the EF is about to drill its 2nd horizontal well, bowtie west looks to have the goods and a joint venture with more land in the PB on the cards this could get very intresting.
l will leave my judgement on management until the end of the year, if they pull this off it would be very impressive, if they fail l will lick my wounds and move on. One things for sure l wont be sitting back in a couple of years and wishing l hadnt sold out. That would be more painful than losing money.
One last note from the ann: "A farm in to the project will accelerate drilling as well as finance the Company’s share of a capital intensive program to prove up the horizontal potential of the property" It seems like the days of vertical wells may be over so if you think we could afford to go it alone think again.
GGP Price at posting:
1.3¢ Sentiment: Buy Disclosure: Held
