GDN will never be bought for its gas asset (whatever that may be). If anything, if Golden Eagle is commercial, an offer will be made to take the field off their hands.
The reserves review currently being undertaken is very important for prospective buyers of the field if there is to be one.
I don't know how many times I have posted here that Mr Sciano will sell the field at the right price. Some US bigs have been sniffing around in the past to get involved. Richard said some time ago that some big US gas players had shown interest and he would sell at the right price. I assume he is still of the same view.
US players will not buy the company they would buy the acreage.
Its that potential buy out price that would value GDN shares. What would you think about a US$1 billion at some time in the future. With oppies and whatever other shares they give away in their quest to get debt finacing that's about $1 per share. What chance the field is worth US$1 billion.
Well at this stage who knows but pigs might fly.
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