GBP certainly has bounced nicely off support at 16c, with the...

GBP certainly has bounced nicely off support at 16c, with the buy depth building and the sell depth dwindling all we need now is confirmation that the drill rig has reached site for the pre-results run up to begin.

will be very interesting to watch how far speculators/traders are willing to drive up the shareprice before results, the 100 million barrel target is certainly massive and very rare for a company the size of GBP to be involved in such a significant exploration program.

to put it into perspective, GBP's 25% share in the Avivi-1 exploration well in Uganda is the same size of the 2p reserves of the Galoc Oil Field owned by NDO/OEL which both have market caps in the $100+ million dollar range.

will be very interesting to watch how things develop for GBP over the next 2.5 weeks.