Onion Creek was an oil show and Campbell 1 was an oil and gas show. Both wells were plugged and abandoned (see screen dump below). Point is, they were close to the money but not close enough.
I looked up the Department of Natural Resources database and located an interactive Share map viewer for ☛ Utah Oil and Gas Wells. The screen dump below is one such map and represents only a portion of Utah. For the sake of detail, the physical size of the screen dump will be visibly larger for some monitors. My apologies for that, none the less you will still be able to navigate by scrolling.
If you look at the symbols used for GDN's two wells, you will notice that PB#2 is shown as a 'New Location', however PB#1 is represented by a solid green triangle, meaning that it has been defined as a 'Shut-in Oil Well'.
I did a query on all the wells drilled within a 25 km radius of PB#2. A total of ☛ 376 wells were drilled, of which only 16% resulted in commercial wells. The breakdown of the results are shown in the screen dump.
I must say that after viewing those results, it will be quite an achievement if GDN hit's pay dirt. In fact it should be front page news over there in Grand County. The Yanks will be Whistling Dixie as they chant 'Aussie Aussie Aussie, Oil Oil Oil.......'
GDN Price at posting:
9.5¢ Sentiment: Buy Disclosure: Held
