In the face of the US market & the Dow falling over 500 points...

In the face of the US market & the Dow falling over 500 points over the last month & the Aussie market falling from its high (late last week of 4600 odd) to current levels (& being another 32 points down today) the GGX price has held remarkably well.

Very little activity today & for the past few days & holding at 10 cents with lots of anticipation for coming results. Although drilling down to 1000m or so is relatively easy (& shouldn't normally take more than a couple of days) the placement of the casing will slow things down a little (most of this week I would guess).

I think we could possibly expect some results though (from deeper levels once the casing is in place) early/mid next week.

If this happens (& the results are positive) then the hurdles in front of the sp now (10.5 sellers 571,000 & 11 sellers 710,000) should easily disappear.

If we come up dry though (as youngeagle stated) we could see a major retreat.

Fingers crossed that that isn't the case & there is the predicted millions of barrels down there! I'm also very much looking forward to hearing of some progress on the Malolos 1 site which has been very quiet for a long time but obviously still has the rig1 there & should be ready to go very soon. Good luck to all.