GDN golden state resources limited
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back of envelope projections for value, page-2

  1. Neil_WA
    2,988 Posts.
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    04/04/09
    13:02
    Post #: 4981383
    I should add that once one hole has shown a tight formation, then to get 10 times better flow rates in the next 16 holes following that would be a hens tooth. Maybe PB1 was just a very unlucky hole and the next will flow 5mmcf/d initially - but the odds of that happening 16 times in a row are not good.
    GDN Price at posting: 10.0¢ Sentiment: Sell Disclosure: Not Held
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    lightbulb Created with Sketch.  Great analysis
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