re: significant gas shows have already been hit Pilko, with all...

re: significant gas shows have already been hit Pilko, with all due respect, I wouldn't ask an insulting question like "did you sell because the results are bad". That's like asking someone whether they've stopped beating their wife.

Regarding the drilling of a second well, this doesn't mean that nothing happens in the mean time. If they have commercial quantities they can produce immediately. They just won't know for how long without another well.

It's like a miner mining a reserve but continuing to explore to extend mine life.

I'm not happy that Sciano took some money off the table but can't complain too loudly because I have done the same thing. I'm now free carried. It's simply risk management.

This is probably Sciano & Haselby's one chance of the big time (and significant wealth). I don't think anyone knew what GDN had discovered when Sciano sold down, including themselves.

Imagine being in their shoes. If it's a duster they would be the "nearly men". Nearly rich but not quite. If it's a goer we all clean up and I don't think they will care that they might have made more by waiting.

For you and I this is a punt. This is not my living, I'm free carried and there are plenty of other stocks to move on to if the worst case eventuates.

It's a different situation for GDN management. I obviously don't know their personal circumstances but would hazard a guess this sort of opportunity won't present itself again. They have taken a big punt by not farming this out. It's all or nothing so I can understand if they give themselves a little insurance.

This only holds true provided they haven't sold in the belief that the well will fail. I'm satisfied on that point.

cosmos