"Tight stops.........Wait for results imo....."
The smart money in oil and gas plays usually gets out BEFORE results. Money is made from the build-up as it approaches the target zone, only the mug punters hang around for the unlikely chance of getting a big pay-off. Not everyone gets to stop out if it falls to pieces, most don't even understand the announcements, and many just dive back in again the first time they see someone take out a large line of stock assuming it means all is well.
"Management haven't got a great track record, BUT, the drillers were the main problem with PB1, rather than the well itself (from what we can gather.)"
Management track record is the single most important thing in a spec stock imo. Good management doesn't get involved in bad projects, or hire bad drillers. They communicate openly and honestly, even if there is failure. They don't allow insiders to trade before information has been released to the market, and they are very very careful about the way they issue shares - when, to who, and at what price. You can't always blame management if results don't live up to expectations but I don't go near them if they don't tick all these boxes. There's enough risk in the geology without the additional risk that success may be stolen by dilution and failure concealed to allow insiders to escape.
Just some general observations. No idea if it applies to GDN.
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