GDN 0.00% 1.7¢ golden state resources limited

marginal or profitable

  1. 13,252 Posts.
    Is it just me or does anyone else think 5 mil per well is very expensive for only 4 bcf. When other AUS companies are drilling to the same depth for completed wells at this depth perforate and to production for 2.9 mil in the US. Look I understand half a mil or at a stretch 1 mil but 2.1 mil over others costs. I have looked at GDN but the cost for such a small amount of gas seems to be out of whack, If you have one or 2 dusters or problems in a well it doesn't make this field on a p50 of 80bcf very economical at best its marginal. This is probably not going to be a popular post but would rather ask a few hard question than put money into a company that is trying to operate out of a marginal field and paying way over the odds for drilling! Would like to see if anyone thinks if its profitable though
 
watchlist Created with Sketch. Add GDN (ASX) to my watchlist

Currently unlisted public company.

arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.