Guys, honestly there are no hidden agenda’s. Approval extension is totally out of GGX’s hands, they expected it in October, but obviously if it hasn’t been approved yet, all they can do is wait.
In addition, they cannot discuss, or appoint a farm-in partner until the approval is granted, otherwise no prospective partners would be interested.
An extract from the quarterly report that everyone has access to…….
“DOE approval is expected in the December quarter and the forward plan includes the deepening of
Nuevo Malolos, which is located a few metres from Malolos-1, to reach the oil producing sandstones
and apply a completion technique that could solvethe issue of fines migration and sustain oil production.
Future work will also include seismic acquisition to locate a site to drill a new appraisal well on the crest of the anticline which forms the Malolos Oil Field.”
In regards to “he said, she said”, we are only relaying info we have received from the company by being proactive and calling them.
Everyone has this opportunity, so if you are seriously concerned, pick up the phone or drop them an email………
Frustrating, yes, but nothing anyone here can do about it……….
I have a few other pressing investments that I am following at the moment, hence the reason I havent been on GGX as often recently........
As I said a while ago, unfortunately this is now a bottom draw job for me, I wish it had played out better, however for now I can only remain confident that things will happen eventually.... GLA
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