Ann: Bullseye Prospect Sale of 8% Working Interes, page-46

re: Ann: Bullseye Prospect Sale of 8% Working... IB Daiwa are now up 25% in income since the deal.

Now receiving $52+ a barrel or $42,000 a month. Not a bad investment and sadly it looks like GGP had no choice but to sell at the bottom of the market.

IB Daiwa are no mugs, I Khan, is a well respected investor. I believe they have done a great deal and I wonder what they were told. I feel this project could still surprise to the upside in due course.




I am wondering if the other JVP partners are responsible for the cost over-runs of this project.

I have found out recently that sometimes JVP's protect themselves against cost over-runs in the initial deal with the operator. In effect the operator has to pick up over-run costs. I am not sure how common in the industry this is but it does happen.

This may explain why GGP have had to raise so much money recently comparative to the other smaller listed companies. Just another thought for the equation.





Curious as to what Eastern Advisors may do, they hold around 15% of GGP and circa 15% in Bullseye. As GGP get more desparate could EA pick up GGP (and the rest of Bullseye) for a song?? I believe it was mentioned in some editorial GGP could be a target for EA.