People may use the term 'producing gas field' lightly on Hotcopper... but 'producing gas field' in a commercial sense is what makes a company.
Every Billion dollar Oil and Gas company on any exchange didn't start up having gas fields... they started with dust and a rig. They drilled and established their first producing gas field which is essentially the seed that all O&G companies grow from.
GDN may have found this seed... and its at 6c. It won't take long before people start to realise the magnitude of the paradox basin until its in the 20c+.. by which I am sure the company will do a presentation to show exactly how much cash this field could and will generate for GDN.
The $3m sale of the iron ore asset is a move in the right direction. This speaks volumes in terms of management's thinking. Firstly they understand they dont want to fund these wells through diluting GDN any further... and the focus is now clearly on the paradox basin.
6c... go figure..
GDN Price at posting:
12.8¢ Sentiment: LT Buy Disclosure: Held
