one well to derive gas reserve statement

Dear Rocketmon, IT WILL TAKE 1 WELL TO DETERMINE RESERVE STATEMENT OF 50 MINIMUM CASE -440BCF MID CASE SCENARIO!

I think you have got mixed up with production and reserve estimate from one well.

They will be able to determine from this 1 well the reserve statement i.e 440 bcf mid case scenario as stated by numerous posters and on the following reports on GDN website. If you insist on insinuating that it will take 50 holes to determine the reserve statement I will believe you have another agenda! What don't you understand about this?

IF YOU READ VERY CAREFULLY clearly states on both Broker reports that it will take only ONE WELL to determine what they have i.e. potential 440 bcf mid case scenario

KEY WORDS IN BOTH REPORTS 1 WELL

Stock Analysis Report:

"Since it is earning a massive 83.3% in the project, GDN offers huge leverage to success. Discovery of 440Bcf of gas by this A$10-12m WELL, would be worth about $10 per share"

Quote taken from CK Locke & PArtners:

"GDN consultants anticipate a high level of success in the FIRST WELL with anticipated 80% success in achieving a minimum case of 50 BCF. 50 BCF is potentially economic Further success in a mid-case potential discovery of 440 BCF of gas"

and "with a potential upside to 3 TCFE for
the maximum 2,000 ha case."

HENCE the next well could improve on the potential mid case 440 bcf into potential trillions if successful.

Regards
Sportback