oppies, page-19

I pretty much agree except your comment re debt funding.

We've been through the reasons why the Board didn't exercise their oppies so time to drop your drone on that one.

Anyone who retained or jumped into the options after the deeps were abandoned and the Board avoided its options was a pokey player.

Debt funding is not required at present and probabaly never will be. Settlement money is in the bank - hence options money not an issue.

If the field is commercial future activities will be sourced from new raisings (withor without options) but hopefully at a higher level - maybe 30 cents instead of 4 cents. With a pipeline being provided by the gas collector what does GDN need borrowed money for? I doubt a 20 well program will be on the cards in the short term.

And finally it all begins and ends (potentially) on the commerciality of the field. Today is a little to soon for a "new beginning" with GDN. Ltes wait and see what this well brings.

Lack of buyers at the moment indicates to me that there is not a lot of confidence in the commercial world (particularly the MR BIGS of US oil and gas bodies associated with assessing this well) re the company's find to date but who knows.

I would have thought interest from GDN's new best mates (US domestic oil businesses) would have been apparent by now but seemingly not the case.

As regards the share price its a worrying one step forward and 3 steps back on a daily basis. Creeping closer to 5 cents than 10 cents every day.