intersting day, page-21

Quote from panda7

"When I say worthless I mean they'll be out of the money come expiration. As for ignorant tcf I will check on this thread come Nov and see what people have to say then. I do think that the ordinary shares are good value though and a much safer bet over a longer time frame"

Panda7 GDN are days away from drilling into a company making formation. The options expire in november that is plenty of time to test the formation properly and setup a drilling plan for more production wells. Do you seriously think that the heads will be below 12c if we find commercial gas in the next month or so?? If they can flow commercial gas from this formation you are looking at a $150m+ company, providing the flow rates are exceptional. Check AZZ their operations are very similar. $150m equates to around 35c a share. If you buy the options now and by the grace of god we are lucky to flow commercial gas you will be laughing all the way to the bank.

Heck, They will be over 12c on a gas show if it is significant!

No offence but you clearly show a lack of understanding as to how options operate and what GDN is all about.

GDN has purposely issued the options at 12c in order for them to be in the money by expiry. I beleive the 20c exercise price was a tad too high. The shares on issue has not changed so 12c expiry is very cheap in comparison.