sp dying is it 5 centsthe bottom or lower, page-13

hi katana,

The land in utah is worth something, delta petroleum paid 100-300 per acre for just a couple of 1000 acre parcels of land they currently hold around 100 000 acres in utah. They have the greentown and salt valley project just north of gdn and they also have 3 other projects to the east of gdn too.

There have been parcels of land which were bought for over 3000 per acre many around 1-2000 and also a fair number around 400-1000 per acre in utah.

The greentown discovery has got the attention of many oil and gas explorers including petro canada and recently arrowhead energy has partnered with liberty pioneer energy to try and also produce from deltas new greentown discovery with the land they have near to delta and they plan to spend 300 million just in that area.

Geologists have suggested that the greentown play will extend further SE to moab, this was mentioned on the investor village forum. If this is the case the 26000 acres gdn currently holds might also have a large part of the greentown play which is already being talked about being a large find. If gdn's acerage does have potential to be apart of the greentown find then the value of the acerage would be worth atleast the market cap now if some other company wanted to buy gdn's land.

The 25% holding for the uranium company if it is listed must have some value or mike shumway would not of got involved considering that he is already working for denison mines which run the white mesa mill.

The land value of both projects might be worth what the market cap is currently, even though gdn hasnt found high flowing gas they do know there is gas there and is flowing at a stable rate.

If you look at deltas discovery well 32-42 it tested 8 of 16 intervals that had gas and oil shows before announcing a combined total flow rate instead of individual rates from each formation since many companies plan to have flow rates from multiple formations at the same time when producing. This well had 2mmcf and 500 barrels of oil which could have meant 250mcf per interval for each interval that was tested plus oil in some of the formations, or 330mcf for 6 intervals with 500 barrels of oil flowing from the other 2 intervals. GDN had flow rates of around 300mcf for 3 seperate formations with a couple that was depleted and couple with water in the formation, if on the next well they dont have water contact in the formations that did this time they could get similar flow rates to what delta got on their 32-42 discovery well. Also gdn never tested the oil column which was at roughly the same depth as the oil discovery well at salt valley 20kms from gdn's well.

The land for the 2 projects would be worth atleast close to what the market cap is currently.

Thats just my opinion though.