Has the well been 100% confirmed as nothing? No
Have the two other zones been confirmed as nothing? No
Do GDN still have potential to make it work, albeit fading potential? Yes
Is the market scared based upon previous history and current status? Yes
Question, fundamentals of management, in the event of a loosing situation do you?
a.) Over escalate your committment to the loss by pouring everything you have left into the situation.
b.)Assess the potential risks and realistic benefits of attempting completion.
c.)Cut your losses and move your resources into the most productive potential you have eg. PB1.
*If PB3 was so bad management would have announced it would be left until PB1 was completed for production.
*Anyone is completely stupid to pool everything they have, their jobs, income, assets, and potential legal suits, into a well that was in serious trouble.
*Risks versus benefits calculation would show that it would cost more to repair the issue, but the potential assets outweighs the cost of repair.
PB1 had the same issues, and some of you jumped for joy when you thought it would produce a week ago.... So isn't that a double standard for all of you.
Someone hit it perfectly, something I've been thinking myself for a couple days amongst all this turmoil and nerves. "The night is always darkest before the dawn".... Well, she's freaking pitch black peoples, and my bladder is about to bust from holding on so long. But in my risk assessment, loosing my investment against what "COULD" eventuate.... bloody hell
Also, please refer to my post a couple weeks ago when I said that fraccing had bucket loads of risks and it was far from over. I mentioned destruction of formation from pressures, but today's announcement just proves for all the naieves out there, there's always risk, even when it produces, theres a risk of a terrorist attack on the site or a gas leak or something... THERE IS ALWAYS RISK.
People couldn't hack the risks today, and yeah, I sware there is some dodgy trading going on for which management really need to be held accountable for. But until GDN says, sorry, we're hopeless and have nothing at all, it's still GAME ON.
So GET A GRIP! Chill Out. And wait for numbers to hit screens already.
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