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
GDN Price at posting:
8.8¢ Sentiment: None Disclosure: Not Held