I had a quick refresher look at OBL and GRK's involvement.It...

I had a quick refresher look at OBL and GRK's involvement.

It appears that the planned Black Reef 2 drilling operation have been fully financed, mainly by contributions made by GRK. Since the drilling operation had been finance it is expected that whatever the outcome of the drilling operation there will not be any further cash required from GRK. A bad outcome would a worst damage investor confidence but would have very little effect on the GRK business. With the share price already at the bottom I don't think this outcome would much of an impact on the medium term share price.

What is the chance that they struck it rich with this one? I think low to medium. The first drill hole indicated that there is oil in the neighbourhood (There certainly are in the nearby Blina Oil Field). The results of the oil quality were however poor which sort off puts a damper on optimism. Maybe they have learned from the previous drill hole and have now increased the likelihood of success.

From short term position I would gamble a few dollars on this share and hold onto them until ~31 October (D-day) I suspect that a few punters will take a gamble on the outcome which could push the shares up pre-the completion of the drill program.

Looking wider than the OBL connection I maintain an optimistic outlook for GRK. This is only one of GRK ventures with potential good prospects.