GREY:GULSF - Post by User
Comment by
JonnyRbuck12on Apr 20, 2009 11:37pm
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Post# 15932256
RE: RE: RE: RE: Whats this all about?
RE: RE: RE: RE: Whats this all about?Read the last NR. PP closed and their ready to get going on their France property AND Australian basin area.GLE:
The securities issued pursuant to this private placement are subject to a four-month hold period. The gross proceeds are intended to be used for working capital and anticipated capital costs on its permits in France and Australia, and to enable the company to continue to evaluate further opportunities.
Mark Woods, Gallic's president, said: "This financing and the assembly of the new management team will now allow Gallic to investigate the previously identified potential of the Ger and Ledeuix blocks in the highly prospective Aquitaine basin of France.
"I am excited about their near-term potential, as well as the potential of our newly acquired Canning basin asset in Australia," he added.
Unless I read that completely wrong, they are ready to proceed. They already got their licenses to drill as per the Oct/2008 NR.
Australia they might not drill right now but the France block they will.