this is huge

The title of the announcement say "Golden Eagle Update" and not Paradox 3 update. Today's announcement proves the strength of the massive Golden Eagle acerage owned by GDN.

The most important part of today's announcement is in Para 4:

"Production rates should improve with larger fracture stimulations and it is planned that once sufficient production history is established, both wells will be treated with larger fracture stimulations. The current stimulation in Paradox Basin #3 has only succeeded in placing 32,900 pounds of the intended proppant into the formation. Other operators in the area use typically use up to 1 million pounds of proppant and establish rates of 3 to 5 million cubic feet per day."

Not even 5% of proppant typically used by other operators has been placed. After further stimulation I believe this could yield 5 mil cubic feet per day. There are 85% of other zones of para 3 to be tested as well.

Sale of WCU, debt funding, pipeline, production pilot etc. are big developments.