Fare concerns there emusan. They are still sealing off the...

Fare concerns there emusan.


They are still sealing off the shallower perforations at this stage. They have to be diligent throughout this procedure. If they are not completely and correctly sealed off, when we do hit oil and or gas, the pressure build up when the well is shut in, for whatever reason, could possibly result in a down hole blow out. This is where hydrocarbons escape from the casing in an uncontrollable and devasting manner. Then it is good night and thanks for coming. So they are taking as much time as it takes.

Whilst there have been further delays, The good news is, they haven't even started to mill out the junk. So this, to me, is quite significant in all this. As it stands, we still have Malolos. The same Malolos that instigated the whole damn exploration on Cebu. The same Malolos that has known hydrocarbons. The same Malolos that got me into GGX to begin with.


We should be milling out this darn junk within the next 7-14 days at the latest. From there, news will hopefully be flowing thick and fast.

If we do hit either oil or gas, GGX's 100% ownership will see to it that even small discoveries will offer significant cash flow and leverage.

If either oil or gas is discovered, they will no doubt seek to size up the reserve. This will be achieved through drilling along strike and gathering new seismic data.

Then we get estimates, p1,p2 etc etc.


If we get to this point we are free and clear. No dilution concerns, cash flow to pursue St.Griede or further exploration on Cebu.

But as we see in the SP each day, another day delayed is another pip off the Share price. It pains me to watch $5k worth of sales go through and cause a 15% drop in my holdings. We will however, get to a point, where opportunistic buyers step in at dare I say it, bargain basement prices. *cringe*

We'd be looking at 2-300% from here in the very near future, minimum, in my opinion of course. I am of the belief the anticline that Malolos is tapped into has the potential to hold up to 10-15 million barrels. You tell me what you think our MC will be at if we prove up that resource alone.

We now know where we stand, the good thing is, The next time we see a rise in our SP, it will be on the back of a discovery, so there will be a degree of sustainability about it.


Best of luck to all holders, in Malolos we trust.