Farm out ann probably days not weeks judging by the share price action.
This stock has a couple of legs to go yet. Even though its run to 4 cents - the market cap is still tiny if they have done a decent deal. Look at the way it ran last year.
8-10 cents on the back of the farm out likely IMO. $50 mil mkt cap would be reasonable for a company with these sort of prospects and a drilling campaign commencing and existing reserves.
If they hit more oil (highly likely given the work done to date) it will be more like 25-30 cents quickly.
In addition to this - management has an exceptional track record (eastern star gas) and has serious skin in the game (plus 50% of the company)
Enjoy riding the GG pony in 2014 holders - it might end up being the best performing stock on the ASX this year.
:)
GGX Price at posting:
3.9¢ Sentiment: Buy Disclosure: Held