I have held GDN for 5 months and still hold, and look forward to further upside despite the bumpy ride so far. ( bumpy = undersatement lol !!)
PYM, on many counts is a far greater probability trade/ investment for success with much lower risk.
1.multiple wells in proven prolific flowing areas vs GDn's single well in a highly speculative new area...
2.low cost wells with high flows..low risk high reward, unlike GDN
3. highly successful and experienced operators...makes Gdn look a little amateurish
4. Low capital expenditure to commence drilling and production..vs GDNs V. High cost....
Independant analyst valuation report released yesterday has placed a target value of $1.60 to $2.60 on PYM near term , current price 0.53
This report does NOT include any mention of two new prospects which are currently being leased that are targeting 1 trillion cubic feet gas each ( vs GDN 440 BCF) ... potential upside therefore far greater than the $2.60 upper case scenario suggested by analyst.
Drilling set to commence June/ July in two of the low risk prospects Raven and Turner Bayou, and announcement imminent on the leasing of first of 1 TCF prospects.
analyst report by RM research available at: http://www.prymeoilandgas.com.au/analystreports.htm
looking forward to the next 6 months cheers!
GDN Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
