sell or hold, page-13

It's a bit of a cube Rubik - possibly there is very little gas in PB2 and water was used as an excuse to save some face and keep the field "alive" rather than the dead duck it appears to be. It is tight formation geology and will be very difficult to extract commercial quantities needed to make this field commercially profitable. They're just a spin company that suck investors in - use spin to pump the price - $$ are made - but in the end - they have nothing to show for the $30mill they've thus far spent. They blamed the driller on PB1, and water on PB2. There's always and excuse with GDN but they continually silver line themselves with their Anns - just don't get caught on the downswing..........