pb3 is commercial!, page-72

discodaddy...

"T4P no longer posts here - he/she posts elsewhere under a different NIC. He/she is still/back in and is very bullish about the results and GDN's prospects."

Firstly...unless you haven't noticed, I do in fact still post here, but have just been very busy of late...for the last two or so years in fact!

Secondly...I do not post "elsewhere" as you suggest, and certainly not under another nic...I only ever use the "trade4profit" nic.

Finally, I am not "back in" GDN and wonder how you could have formed this view? In fact, I have not even discussed GDN, nor their recent results, with anyone...not one person...so to suggest I am "...back in and is very bullish about the results and GDN's prospects"...sadly, is nothing more than an outright fabrication.

So...who are you, why are you posting this...and what do you hope to achieve from it?

For the record...I am genuinely happy for shareholders that GDN finally drilled a horizontal well in these tight formations, I am also happy to assume that this well should, collectively, obtain higher flow rates from the various pay zones within the formation and/or run a staged production option selectively using multiple pay zones aimed at optimal returns.

Sadly however, based on my initial mapped closure calculations for this productive formation, which does appear to continue at the fringes toward the PB#1 location, the p50 numbers will not be anywhere near what the market was expecting during the drilling of PB#1.

As I see it however, they should have enough gas for about 12-15 years production before depletion scenarios kick in...lets see what they come up with?

So, with three wells now potentially available to puff into the grid, it is highly likely that, given time, and after accounting for ongoing production and administration costs, interest charges on borrowings and/or the long-term effects of dilution on the value of shareholdings from the many placements needed to fund the acquisition, exploration and eventual development of this Golden Eagle prospect...and no doubt after the funding of at least one more well...GDN may eventually be able to pay back the cost of drilling PB#1...and PB#2...and if the gas holds out long enough...even earn enough to pay back the costs of PB#3 and a potential PB#4!

But...any change left over?

Cheers!