Just ran a few numbers out of interest Richard sciana Today held 4,791,800 shares Tonight holds 1,761,800 shares
Today held 13,500,000 options tonight holds 6,900,000 options This director obviously doesnt think his company is worth that amount of money.
12 days ago market cap fully dil approx $60 mill today fully dil approx $235 mill
Therefor the market values this well at 175 mill even though it has not been proven to be productive.
As a comparison Orchard Petroleum has a fully diluted market cap approx $160 mill inc approx $50 mill bid premium. For that you get approx 6.7 mill boe of 1p+2p reserves and 14mill boe 3p reserves from 1 field. 2 producing fields and one not far of and another 6 potential projects. Management beleives they have the potential for 250mill boe which is the equivalent price wise of over 2 trillion cubic feet of gas. They have a number of proven projects, and cash flow. I dont hold shares in this company it just has a market cap slightly less than the value given to this current well of gdn. I wonder how many of the people who have been ramping this company up the last week bailed today or will bail 10am tomorrow? good luck
GDN Price at posting:
0.0¢ Sentiment: Sell Disclosure: Not Held
