Possible 200 million barrels oil in place in Kate anticline according to TAG(former partner) geologist and considered it their most exciting prospect and company making.
GGX low market cap potential and 55% interest has potential to go to $3.00-5.00 from present 6 cents if that amount of oil is discovered.ie 50 bagger plus.
Live oil seeps and gas around edges of anticline structure. Drive up and drill scenario meaning very cheap drill($600k-1.5 million) plus existing heavy transport route for machinery, tankers. 60 Km to largest City in South Island and major port to ship oil, if oil was discovered.
TAG geologist said it was the most excitng prospect he had ever seen and that it doesnt get much better than a large anticline(bubble)structure with thermogenic oil seeps around the edges.
DYOR...
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- drilling onshore poss 50 bagger plus
drilling onshore poss 50 bagger plus
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