Judgement Day - Update +57%

So here we are, 4 months's on from the SPP decision day as regards whether to buy up to $15k worth of Options at 0.7c ( with 1:2 free options ex 2c exercise.

How are we doing?

Price

trading at 1.1c, so gain of 4/7 = +57% and the options are looking attractive.
some of the old losses from way back when recovered

Oil

POO trading at $70, approaching multi year high's

Funds

still an issue, although drilling quiet, so outflow's slowing

E&D activity
Quiet on drilling
Gas - no agreement, but Gav assessing reserves
Acquiring more acreage in a rather canny was is the current activity

So the focus is adding real estate and acreage, which to me is a real declaration of confidence by the team in both the area and their position.

To me this has long been a call option on the area and prospects are improving. Still plenty of time to get in before it gets monetised, be it takeover, gas sale agreement or some other way to monetise. These guys never take the conventional route!

GLTA

Wazz