Nah, not stringing along. I believe that the second well will be sucessful. The first did flow gas at 340 mcfd. If second can get 1 mmcfd or better then we have a commercial field. Look at those working the area from south west to north east of GDN. They are doing well. generally flowing 300 mcfd to 3 mmcfd from various wells. GDN I think is in good gas country. They know that. Just first well cost too much and huge problems to as we all know.
By the way GDN is still going after weatherfords for $7 million. Found this filed action in Utah courts.
Golden Eagle Exploration, LLC, vs. Weatherford U.S., L.P. and Decca, Civil No. 0707-119 filed in the Seventh Judicial District Court, Grand County, Utah
Cant get much more public court document info as have to pay for it which of course I ain't going to do.
GDN Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held