The timing and results of the testing of the well may be...

The timing and results of the testing of the well may be critical to getting the oppies over the line.

If the gas testing results are to help the share price then they have to be very positive which may cause the share price to lift considerably.

Rig 234 has aggreed to standby at no charge.
Will this be the rig they use if PB3 is to be drilled?

When the testing begins gdn have stated that each zone may take several days before they can test the next zone.

There are 5 zones to be tested.

Five zones, several days each = + or -15 days.

The zone testing will start from the bottom of the zones to be tested.

The lowest zone is zone 10 which tested 3661 PSI ( thats pounds of pressure per square inch) of gas using the MDT tool (06/05/09 GDN ann)


Good management and favourable results from testing may mean.

1/$30 mill in the bank from options( no capital raising or financing needed for the next steps).

2/Re entering and stimulation of PB1

3/ Drilling of PB3

4/ And cash flow from productive PB2 while Achieving points 2 & 3.

5/ Gdn has previously announced that gas companies will provided the pipeline at their expense when flow rates are confirmed, and that it will take 60 days to run pipeline over the 6 miles distance to the Williams pipe line at the pre determined and approved connection point.

It would seem that the timing until the expiry of options may be down to management, combined with good gas results. If this happens and the above points are achieved, by Jan 2010 when gdns wcu shares come out escrow, this company may be looking very smart.

The above is only my opinion. Do the math regarding timing etc!

Good luck to all. IMO DYOR.