gdn valuation #2, page-4

Its all hypothetical, hard to know, and needs to be an NPV to determine current value of future potential revenue/profits. I would be interested to know also whether the cost per well could be reduced with a clear and long term program of production wells. Sensitivity analysis of gas price to profit and value would also be interesting....any financial modellers had a crack at GDN yet and want to share????

Its also hard to know what the productivity average of wells would be. We may or may not be in the strongest part of the field. There is also the options to excise which, if in the money, would provide funds to further the project but would also dilute per share valuation.

At the end of the day probably academic, as the market is driven by irrational sentiment. There are probably too many variables with GDN to get a meaningful and confident valuation, typical small gap exploration stock, but it is fun to speculate.