However to see the SP much higher the kind of news we need is:
1. Documents signed off regarding $3mill cash. This kind of cash is crucial for GDN and production. Initially, GDN were considering outsourcing the production and pipeline connections by paying a royalty to one of the interested U.S based companies, now they are seriously looking at managing it all internally and that is why this kind of cash will be invaluable.
2. Flow rates. Well it won't be far away until the drilling has finalised and GDN get over there and do all the testing. The units in todays announcement give an indication that this well could provide the highest rates out of all 3. We all know that they will be much more prudent this time around. I don't need to repeat what was said in their announcement, but it sure shows they are serious about production this time around.
3. Sustained flow rates. To ensure to investors that the water issues were related to the reasons GDN believe. If the research correct, then water will not be an issue. The company believes there will be no issue here with water, but the market will want to see evidence. At this point if we have all 3 of these things covered, the options will be well in the money
GDN Price at posting:
12.8¢ Sentiment: Buy Disclosure: Held
