GDN - Golden State Resources

chris1983 · 26 October 2006

Any of you guys on this one?

· Paradox Basin #1 well is at 11,950 feet (3,642 m) and drilling on

· Strong formation gas pressures and gas influx to well upgrade
production potential

· Target potential 3 TCF gas

One of my mates brought it to my attention and I decided to jump on the train.

"The well is drilling on towards its main targets, which have been interpreted from seismic data to have the potential to contain up to 3 TCF of gas, the Barker Creek (estimated depth to base 12,730 feet) and the Leadville Limestone (estimated depth of top 13,700 feet). The Leadville Limestone hosts the Lisbon Oil & Gas Field, 80 km to the south. The Lisbon Field has produced 54 million barrels of oil and 750 BCF of gas, at current prices equivalent to a gross income of A$10 billion.

It is anticipated that the well will reach the primary objective Leadville Limestone within 7 days."

kevro · 26 October 2006

Hi Chris1983, yeah I'm in. Just 50k yesterday at .59c but has gone for a wild ride today and tomorrow looks interesting.

Sean K · 26 October 2006

Holy #$@% ^&*()&% !!!!!!!!!!!!!!!!!

kevro · 26 October 2006

Hi Kennas, you might need another notch in your Macd chart soon if they have what they are looking for.

chris1983 · 26 October 2006

Hey Kevro. Welldone. I am holding no where near that many shares. If they do hit their targets though..my small holding will be very profitable.

Looking forward to tomorrow. Still a good buy Kennes if they hit the potential gas targets they say they can. Even if they get half of their potential gas target..we'll be in for a ride.

kevro · 26 October 2006

Chris, GDN have also proven in the past it seems that someone cannot keep a secret and usually good news has followed extra share activity. Wonder if the secrets out of the bag with news to follow. Hope so

pch · 26 October 2006

I've been holding this since 23c giggling at all the EXT ramping

imajica · 26 October 2006

do you guys think it would be worth buying in tomorrow?

has it got a few days left to run?

any thoughts would be appreciated

cheers

Sean K · 27 October 2006

imajica said:
do you guys think it would be worth buying in tomorrow?

has it got a few days left to run?

any thoughts would be appreciated

cheers

Just another day traders buy in and out quick atm. Be wary.

kevro · 27 October 2006

Thanks for the warning Kennas. Just may be a bit more in it this morning judging by the bid side and a shrinking offer side. Will watch closely.

Regards
Kevro

chris1983 · 27 October 2006

In response to the ASX query yesterday they seem pretty confident. So i'll hold this one to see what happens.

tech/a · 27 October 2006

This is going to belt on open.

Look for a breakdown from the top when it eventually comes off.
It could fall as fast as it has risen.
From a short term technical view to maximise profit I would only allow a pull back of 25% from any high made. (Thats 25% of the RANGE).
So if it gaps and trades up 20c to a high thats 4c back from any high.

Just a technical view if any of you fundies are interested.

tech/a · 27 October 2006

tech/a said:
This is going to belt on open.

Look for a breakdown from the top when it eventually comes off.
It could fall as fast as it has risen.
From a short term technical view to maximise profit I would only allow a pull back of 25% from any high made. (Thats 25% of the RANGE).
So if it gaps and trades up 20c to a high thats 4c back from any high.

Just a technical view if any of you fundies are interested.

This is now coming off need to be quick.

chris1983 · 27 October 2006

Hmm. I'll hold. You think they will come back Tech-A?

chris1983 · 27 October 2006

Ok I'll have an estimation. We will finish at $1.10+ because people wont want to miss it..will want to be holding for monday

SevenFX · 27 October 2006

This reminds me of a young cdu...here comes 95c

tech/a · 27 October 2006

Its now hit resistance at 95-96 three times and tanked each time.

There are some big "punts" in the mix and if they get jittery they will sell at these levels until the sellers run out.

Needs to hold above 96c for at least 15 min to have a chance of not being sold off.

Under 87c and she will dive.
Those looking for a quick profit have had a few chances.
It wont rise vertically for ever!
A CDU comes around super rarely.Trading every trade like a potential CDU will have great profits disolving before your eyes.

Pick one was taken at the time of the first post.
pick 2 just then.

Sean K · 27 October 2006

chris1983 said:
Ok I'll have an estimation. We will finish at $1.10+ because people wont want to miss it..will want to be holding for monday

Careful Chris. Take some profits when you can mate.

chris1983 · 27 October 2006

Hey guys. Thanks for the warnings. I'm debating with myself on what to do. I'm not holding heaps in this one.

Whats your view of their messages though?

kevro · 27 October 2006

Out at .88c for a nice $15k profit in a couple of days. Will watch for a while and wait for the 3rd wave.

GDN - Golden State Resources

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