400-ish is the mid-case according to the Locke Report from 9 June 2006:
GDN anticipates the prospect may hold up to 3 TCF of gas equivalent with a mid-target of approximately 440 BCF plus liquids with an assessed probability of success set at over 19.5% by the company’s geologists. With GDN’s equity of 83.3% in the Golden Eagle prospect; GDN believes the company can potentially offer great leverage of success. A mid-case potential discovery of 440 BCF of gas would equate to a significant move to GDN’s share price on the ASX. A minimum case of 50BCF currently is potentially economic. Even based on this alone it technically values the GDN share price at $1.00 to $1.50.
Disco
GDN Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held