GDN makes lots of announcements and promises a lot but when the crunch comes they continually fail to deliver. Their first well took forever to complete and encountered almost every conceivable delay possible. Their second well appeared to be going well but failed to proceed to scheduled depth where the big payoff was supposed to be. It is months now since they stopped drilling and it looks like they will want more money for a third well. To say they are disappointing is a massive understatement considering the time and money they have taken with very little to show for their efforts. They supposedly had everything in place to hook up to existing nearby infrastrucure to sell gas as soon as the first well was finished as the field was already considered to be Commercial. This is not an investment for the faint hearted with slow ups and sharp massive downs with what appears to be poor management.
GDN Price at posting:
4.7¢ Sentiment: Sell Disclosure: Not Held
