GDN is cheap at these levels based solely on results to date.
The most important fact is that GDN has found a very significant gas field, which will more than likely see it producing gas for 30 years+ and possibly longer like its neighbour Lisbon.
Keep in mind that this is the FIRST well GDN has drilled in the Paradox Basin and the gas shows to date hugely decrease the projects' risk profile, has actually increased its most likely outcome(from 440BCF to 500BCF) and increased the probability that the main objective, Leadville, will produce gas.
At 440BCF a valuation of $10/share for GDN has been touted.......so 500BCF would be terrific.
Also keep in mind that this may prove bigger, up to 3TCF and would see GDN at $50+.
Quality projects that offer huge upside, can be commercialised quickly(within 4-6 months) and have a limited downside are truly rare.
May the Golden Eagle project see Golden State soar and reap the benefits it deserves
GDN Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
