interestingly they have reported $2.03mil over the 3rd quarter which far outweights the previous 2 quarters. Yet nothing has changed apart from installing 2 jet pumps. The $1.3mil spend in the final quarter seems excessively high as there is no costs I verily belive in spudding Louise due to the farmin agreements. Petrodome is also supposed to be relinquishing any further drilling rights/obligations. There is a drop in Admin costs of approx $40k yet the office is gearing up to spud a new well. Their was a spike in the coy admin costs due to a "legal secretary" which remains unexplained. But we are to believe the spike in costs is because of recieving updated 3d sesismic information. Their is an "excited" attitude about only concentrating on the the "napolean" district when it has been well documented they were seeking more "unconvential" plays coupled with the Board going ons at TMK. I looked at an other stock and reduced my holding. It didnt show on ASX because my order went through on ChiX. which apparently doesnt show at the moment on the Board. We have endured dilution of our holdings and sp and our Mgmt have reduced their skin in the game. The consistent change in timelines, stock support and focus leads me to believe we shouldnt invest for the future. Live for today.
T1.
GGE Price at posting:
1.1¢ Sentiment: None Disclosure: Held
