As a former GDN holder my big beef with them was the way they over-egged everything.
They would do some drilling, get some preliminary results and release announcements like 'as good as it gets' (actual quote from presentation) and such things. They would come out screaming from the rooftops as if they had just discovered the worlds biggest gas reserves.
A few weeks later everyone would figure out, following testing, that the hole was a fizzer!!!
Why make announcements that You can't back up later down the track? takes away entirely from any credibility you have as a management team!
Its like your missus saying she's gonna have implants done tomorrow - but comes home from shopping with only milk and bread!!
Then says she's gonna have implants tomorrow.... only to come home with milk and bread.
GDN are talking HUGE implants, but don't even bring home any milk and bread!!!
I'm sure many companies exaggerate things in announcements sometimes, but if you keep crying wolf, and never deliver a wolf, then surely people will simply stop listening when you scream!
Just My opinion
AtM
WCU Price at posting:
28.0¢ Sentiment: Hold Disclosure: Held
