golden eagle update, page-13

The GDN business is all about the Ukraine O & G play. GDN was picked up last year as a shell, with a view to using it to exploit opportunities in the Ukraine. The evolution of our company has been quite obvious and transparent.

* Get control of company
* Get funds into company
* Get decent prospect into company
* Sort out management of company
* Off load/monitorise any legacy assets (per last presentation March 2012 " Plan is to farmout or monetise the project (Golden Eagle)")

This announcement and the current work on Golden Eagle is about buffing it up for sale. This is about, is there gas there, this is about is this a shale gas play, this is about can we frack this to get the stuff out. This is not about finding money so GDN can have another go at drilling Golden Eagle. So stale holders please get over it. The sooner we have quit the US assets the better.

We are an $18 mil MC company with some money in the bank (would like more), a super project in the Ukraine next to a gas pipeline in a country with a gas shortage and a supplier of gas they have problems with (Russia), with wells that have shown gas previously (i.e. it is not about discovery, but commercialization) and in the process of getting money out of the mistakes of past management.

What we see is every time there is a mention of Golden Eagle we have a lot of nervous old holders get all wobbly and sell. This creates a soft SP that allows those that can see and believe in the future to pick up some stock at a reasonable price. I'm happy to see the stale holders get all jelly kneed. Anyway good luck to all.