beware pb1, page-17

can we just put something to bed technically..

you CAN'T re-inject this well!

to reinject you need spare gas that will compress sufficiently to raise the pressure of your reservoir above it's natural level.

PB1's volumetric flowrate is so much lower than PB3 that in order to raise the pressure you would need to suck the life out of PB1. I am remembering they are on the same formation (Ismay) so depressuring one part of the reservoir to pressure up and reinject the same part of the reservoir is not feasible!!

reinjection is commonly used to gas-lift poor reservoirs, not enhance good ones.

in laymen's terms...injecting into PB1 to lift PB3 without any other gas source available to compress and overcome the volumetric flowrate differential (ex-formation or additional wells) is like borrowing from Peter to pay Paul.

One other thing, during my last tenure as a GDN shareholder, it was nearly de rigeur to treat all announcements as lies intended to improve Richard Sciano's holdings. All this excitement over PB3 is great but at the end of the day you have 1 reasonable show gas well, and one intermittently mediocre one. And this is after certainly 3 years in the field.

As a comparison, Santos and Origin, when punching in standard gas wells (i.e not CSG) usually go from rig-up to completion in 4-6 weeks maximum...Origin's forward program for CSG wells is 10,000 wells albeit that they are only sunk between 400-600 metres. Santos are in the middle of some similar ridiculous amount of wells in Pony Hills and Fairview.

All the water production would be easily dealt with by a standard work over. Every stage of this expro program has been a drama...delays, Wetherford's stuffing up the hanger/casing, rig issues blah blah...

why did I jump back in? Simple, when PB3 completes and is proved up the share price should double or triple. As soon as this baby hits 15c, I am outta here..

So I am positive that they will muddle along nicely but you should be very wary concerning their announcements. Watch for churn days as day traders try to agitate movement. Also I do not believe they will cut it in the long term as a decent producer. By the time they get 10 wells in, I'll be retired. For comparison, go see how ADI are going in the Austin Chalks.

I bought into GDN and ADI at the same time in 2007, ADI now have 5 plus wells ready for production and this was in very demanding horizontal drills into relatively unknown chalk formations, and their program is whistling along unabated.

I enjoy reading the "realist posts", it doesn't mean negative when you are simply asking the common sense questions...it helps keep the bastards honest although in the case of Sciano, I think that ship may have sailed :)