OK so lets get all the negatives out of the way.
YES GDN has had a pretty ugly history in terms of hyping up well#1 to crack open a 3TCF gas field. Leadville was the target and GDN went from sub 10c to $1.20 in 6 months.
YES GDN has been diluted since and leadville is out of the question and so is 3TCF for now. In the 3 years that have past since the dissapointment of leadville... GDN have flow commercial gas from the ismay in well #1, and #2. These flow rates were hindered by the fact that the casing was not fit-for-purpose, in that they were targetting leadville and not the ismay. Hence paradox #3 came along to solely produce from the ismay. A fit-for-purpose production well that will determine the go-forward for future and past ismay producing wells.
If para #3 proves to flow above 5+mcfpd.. which is looking more likely than not... we are looking at a very very exciting gas field that will bring GDN cash flow to fund future wells.. and seriously develop the golden eagle prospect into one very succesful field.
Once GDN is cashed up - I believe they will be chasing leadville again... with much more data on hand.. they will be a in a position to give it a real go.. and thats where GDN could be a $1+ company.
A shame to see people loading off shares at 6c when the future for GDN has been brighter than ever ... and I mean I feel better about GDN right now than I did when it was $1... at least it now within reach of significant cash flows which will put it on the right foot forward.
IMO.. it is only a matter of time before people catch on. For once.. the GDN announcements are actually painting a picture that looks like something I'd want to have my money in.
Goodluck and with flow rates a month away... with 6 gas shows - announcement tomorrow morning to likely extend the 20ft 3000+unit gas show. I have a feeling some people are accumulating..
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