Ann: Correction December Quarterly - Cashflow Re, page-13

re: Ann: Correction December Quarterly - Cas... Betasp,Rob Etal

Missing something ?

Best we crack the GGE code

So through the smoke and mirrors
Louise waits and waits in the wings for whatever it is
that is going to allow a spud.

Appears this may be Petrodomes swan song as Big Bro
in Napville and at the same time Drill Louise from the
Desiree Pad.
Could this be the way round a permit famine in Napville ?

"The Operator is presently finalising drilling permits and
the well is due to be spud in the current quarter"
(Permits plural ?)
Is that Operator Petrodome ?
'Cos 31 Mar is adios Petrodome. Or is it ?

"The current joint venture with Petrodome expires 31 March 2014. The Company ( which Company ) is excited to recommence working directly with the seismic and other data in generating drilling The Company is working with its JV partners to complete a diligent hand over of all work completed on the Dome.locations and furthering the impressive work completed to date. Grand Gulf views Napoleonville as a significant and tangible asset that has a substantial number of untapped oil and gas prospects not unlike the Desiree and Dugas and Leblanc Discoveries.

NOTE "current joint venture with Petrodome " ( New one Perhaps)

That is all very nice , the tricky bit is ,
"The Company is working with its JV partners to complete a diligent hand over of all work completed on the Dome."

Who are the JV partners and handover to whom from whom ?

Maybe that is the way ahead , held up by that JV "Unit"
that needs to get it's act in order.

"A unit owner not presently within the joint operating agreement is required to final their participation position this coming week which will clear the way for well preparations to commence."( Do Well preps include drilling ?)
Who may that be ? Rob , Pls .

More unitisation ?

None of the above is crystal clear ,
it's interpretation is mainly conjecture
based on vague references sprinkled in Anns.

GGE has a full head of steam and needs a green flag.

Would appear it's time to get on or stay on board .

CH$$RS R15