I'm not saying it's gonna happen to GDN but.. for ADI's sugarloaf 1, it seems like it took more than 6months and still waiting.
they have released drill rig in early dec, put the testing plan in late jan, started testing in mid feb. but still no definite result yet. tested lower gas shows without frac but no gas flow. frac and tested Hosston formation but gas flow too small to measure(12/3/07). and still in the planning process for the most probable gas show.
the last report on the flow test was on 24/4/07 and no test result yet.
not sure if sugarloaf will be commercial or not. but it seems like we've been too impatient on GDN. it's been just one month since they have started the testing.
or... is this a common delaying tactic for the oil/gas company?
GDN Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
