The directors said in the announcement of 10/1/2007 that 742' of pipe remained in the well and:
"Recovery rates are as predicted in the previous announcement of 2 January 2007. The lost section is currently free of the casing wall and is being recovered by washover pipe, at rates of up to 80’ per day."
So today we find out that 246' was recovered in the last week.
I beg to ask: What happened to the period between 10/1/2007 ~ 23/1/2007?
That recovery rate of up to 80' per day was actually nil in 13 days and an avg of 35' per day for the past week.
It is blatantly obvious that the market should have been updated a good two weeks ago and they held back so as to contra the bad news with the placement.
GDN Price at posting:
0.0¢ Sentiment: Buy Disclosure: Not Held
