Reminder. Below is an extract from a pre spud announcement for PB3. I would expect we will get news in next few weeks regarding forward programs for all mentioned future steps to becoming a commercial gas field.
Should Paradox Basin #3 prove effective gas production from the Ismay Formation then further works will be performed on the completions of the existing wells. Testing and evaluation of Paradox Basin #1 and 2 indicates that both wells can be effectively recompleted as producers. The company is also reviewing options to re-enter Paradox Basin #2 to test the Leadville Limestone. Post drill evaluation of Paradox Basin #2 from the processed VSP suggests that the well was possibly closer than expected to the Leadville target when it was suspended at 14,216 (4333m) after the bottom-hole assembly became stuck in dispersive claystone. The Golden Eagle Gas field is located in Grand County in Utah it is well located to available infrastructure and can be readily commercialised once commercial gas production rates are established. Both existing wells have demonstrated gas flows at rates up to 3.6 million cubic feet per day. Independently evaluated gas resources confirm the Golden Eagle structure contains an appreciable gas resource.
Be patient and IMO we will be rewarded. Rome wasn't built in a day B Rubes
GDN Price at posting:
4.2¢ Sentiment: Hold Disclosure: Held
