Isn't the well a sunk cost - what is important now is the operating costs v the revenues and would imagine that these will be cash positive.
do not walk away from the well because it has not recovered the capital cost
If all this well does is pay for the pipeline and provide some additional cash then in a reasonable position when combined with the information thay have acquired from this well
If this well is commerical combined with the exercise of the options (and worse case scenario they will be underwritten) then long term this share looks very good.
Remember they have not touched Leadville, Pinkerton nor Cane Creek yet
Wally
GDN Price at posting:
0.0¢ Sentiment: Buy Disclosure: Not Held
