GBP has $25M in the bank so i'm confident they won't be cap raising prior to the spud...
Historically GBP hit 29.5cps during the pre-spud hype for their previous Ugandan well which had a similar sized oil target. Considering the markets have improved since then I think this target is achievable in the short term?
GBP is a low risk trade as it offers punters the chance to cash in on high probability profits closer to the spud date and then free carry their remaining positions for the potential high profits/rewards upon a successful drill...
IMO a direct hit would be worth over $1.10ps to GBP..?
JB
GBP Price at posting:
19.0¢ Sentiment: Buy Disclosure: Held
