News: Grand Gulf Energy hits oil and gas at Louisiana oil well, page-13

Von, I think the speckie market is currently dominated by short term thinking with the "investors" either in cash or sitting on existing stocks until more confidence in a level playing field returns. Many good O&G stks suffer the same issues. Those stocks that rise quickly are largely based on sentiment or hype but often CR's follow as many do not have the funds to deliver the potential.

For us here our consolidation last year cleaned up the register and we have had sound numbers for a long time, Balance sheet is clean and I would argue that Louise (whilst important) is a nice distraction to the underlying success and future potential and that the recent research note could apply to any period over the last year. For me I am not surprised either way what happens with the SP in this market.

If the true value of any stock is significantly higher than SP and we are able to sit and wait then .001 moves are less of a worry as the ultimate multiplier will provide higher gains without the stress. Also if the research valuation numbers and peer comparisons are indicative of current value then imo even if Louise was not a success the valuation would not change by much. It does not try to value potential of another WK or Abita well and as Louise has mostly been paid for there is minimal downside plus we already have enough cash for the other planned wells and each mth our cash grows with current production providing funding for any other future wells.

There is some broader interest in onshore GOM building in the US and any good results in this play could be a catalyst for a change in sentiment. This article was posted by plugged on the O&G forum yesterday and ties in with some of R15's points earlier. Drilling Technologies

Anyways, just my view of the world,
GLTA