Unless you are a punter who is not worried about totla loss then anywhere else is better to have your funds. Like a bank would be better.
The future od the shares and the options is all tied up in the gas reserves that RPS Energy will report on again soon and the sustained flow from P3.
If the review and the flow are as good as has been reported then why wouldn't the field be worth more than $100 million which would lift the SP to upwards of 14 cents.
The company has already spenf nearly $60 million on three wells.
$100 million worth of gas in a "commercial" gas field is chicken feed so if the field was valued at $1 billion in the ground then GDN would be valued at around $1.00.
Dreaming? Maybe.
But RPS Energy advised that the gas find in P1 was the largest onshore gas find in the US for that year. I expect the reserves upgrade based on P3 results should make the previous RPS advice look a little ill. Its when the reserves estimates and the production estimates are Known that GDN's world could change for the significant better.
GDN Price at posting:
5.8¢ Sentiment: None Disclosure: Held
