This is a huge vote of confidence from Woodside because its going to cost BIG $s to drill here. They wouldn't be prepared to do that unless they were well satisfied with the potential found in the seismic. Can you imagine the dozens and dozens of "begging letters" that Woodside would receive each year from hopeful junior oilers trying to flog their bits of dirt. This is a very lucky break for Globel Petroleum. Opportunities like this are rare.
Peter Strachan (Stock Analysis) says....."Huge leverage" and with over 30 prospects and leads, each capable of holding several hundred to a billion barrels of recoverable oil - aint that the truth!!!
I wasn't taking a position unless Woodside was in. Well I'm well and truly "in" now.
GBP Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
