GDN - Golden State Resources

[Agentm]

what's wrong with you AGENTM ? why do you insist on running people and companies down when you hold no shares in them.

it doesnt matter wether you dont like the management or the operrator.........it's all about making money............
not getting personal with others

lighten up please

lol

ohh no!! stalker mick is back..

lighten up.. lol you cant even read a light hearted comment and understand it,, you seem to be the most uptight person on this site..

the light hearted comment by me has only been taken the wrong way by you mick.. which shows how frustrated a person you have become..

everyone is making a killing on GDN mick.. have a look at the shares progression during the last months.. no ones uptight about it,, the well has got a background reading and people are making a fortune out of the hype,, its brilliant stuff run by a brilliant crew.. you have to enjoy it mick..

again mick,, you appear to think you are my father or something, trying to tell me what i should say think and do.. i will put you on ignore here as well, as your contributions to any topic are nonsense at best and you seem to think your exclusive role in life is to tell me how to act.. who the hell are you to tell me what i can and cant write on a forum?

your a complete fool.. you dont know whether i am in or out af a share of what my position is mick, and you would be the last to know in any case..

onto ignore you go mick.. !!

 

[pilots]

lol

ohh no!! stalker mick is back..

lighten up.. lol you cant even read a light hearted comment and understand it,, you seem to be the most uptight person on this site..

the light hearted comment by me has only been taken the wrong way by you mick.. which shows how frustrated a person you have become..

everyone is making a killing on GDN Mick.. have a look at the shares progression during the last months.. no ones uptight about it,, the well has got a background reading and people are making a fortune out of the hype,, its brilliant stuff run by a brilliant crew.. you have to enjoy it Mick..

again Mick,, you appear to think you are my father or something, trying to tell me what i should say think and do.. i will put you on ignore here as well, as your contributions to any topic are nonsense at best and you seem to think your exclusive role in life is to tell me how to act.. who the hell are you to tell me what i can and cant write on a forum?

your a complete fool.. you don't know whether i am in or out af a share of what my position is mick, and you would be the last to know in any case..

onto ignore you go mick.. !!

Agentm, it looks to me mike is one of them who has lost big time on GDN last time, now that the back slappers brigade is back on board it is away again, what they hate most is that any one who has a negative view on this should be banned from posting, it works on one other forum I know of.
Agentm this is your last warning, you must ONLY post positive on any stock.

 

[Evo]

agentm speaking of forum contributions, your post was not that much better. You must have alot of spare time on your hands, quite sad really.

 

[captain noitall]

guys, this has been the best forum for objective info on this stock by a mile..pls don't let it turn into hc. Stock comment only please, we all waste enough time on other sites dredging through crap.

 

[Joe Blow]

guys, this has been the best forum for objective info on this stock by a mile..pls don't let it turn into hc. Stock comment only please, we all waste enough time on other sites dredging through crap.

I agree. Lets drop the personal attacks and stick to discussing GDN.

People are entitled to take a bullish or bearish view as long as they can back up their argument with some analysis or pertinent information. Whether or not they are a holder is largely irrelevant. Someone is only ramping or downramping if they are bullish or bearish without providing any reasoning for their point of view.

If someone is deliberately posting incorrect or false information and you believe it to be a deliberate attempt to mislead others then please report the post in question and either myself or one of the moderators will take a look at it.

 

[DAZT49]

"People are entitled to take a bullish or bearish view as long as they can back up their argument with some analysis or pertinent information. Whether or not they are a holder is largely irrelevant. Someone is only ramping or downramping if they are bullish or bearish without providing any reasoning for their point of view."
Good onya Joe.
looks like I missed all the action today lol
Probably a good thing

 

[Agentm]

"People are entitled to take a bullish or bearish view as long as they can back up their argument with some analysis or pertinent information. Whether or not they are a holder is largely irrelevant. Someone is only ramping or downramping if they are bullish or bearish without providing any reasoning for their point of view."
Good onya Joe.
looks like I missed all the action today lol
Probably a good thing

hope your doing well on gdn this time datz..

its a long way from background gas reading to commercial flow.. but its the % that gdn hold in this one that makes the speculation a great share to ride for those bold enough to know when to fold..

i do agree its waccky what happened today, people cant get over themselves..

datz are you taking a long term view on gdn, holding to the test and taking a risk on a hit on the sp then, or are you going to bail while the sp is hyped up/speculated to its present levels?


looking at gdno, it gone from .005 to .045

the way its been run is brilliant imho..

 

[DAZT49]

agentm,
Been in since mid 2006 so guess I am more of a lifer than a long termer.
Making money on the oppies but the heads still owe me a few cents.
I am more than happy with the way things are going, much more professional this time.
Tho I reckon the last couple of anns were drafted by Richard S and reminded me of some of the cut and paste jobs he did a couple of years ago.
IMO the market is really waiting to see if they get those major shows from Lower Barker Creek to really confirm the potential of this well.

 

[nomore4s]

Let's keep this thread on topic please, if you want to discuss your going-ons on other forums please do it via PM or on the other forum!

There will be no more warnings - off topic posts will be deleted and infractions handed out.

Thank you.

 

[bigdog]

ASX ANN

SP GDN 0.20 -0.005 -2.44% 5,110,980 shares $1,019,628 @ 15-May 11:07:21 AM

http://www.asx.com.au/asx/statistics/displayAnnouncement.do?display=pdf&idsId=00953342

15-05-2009 10:13 AM GDN General Update - Paradox Basin

UPDATE – 15 MAY 2009
Paradox Basin #2 Grand County Utah

Paradox Basin #2 is at 13,030’ the bit was replaced for a PDC bit after drilling out the shoe.

Progress has been slower than expected mainly due to the extra bit trip.

It is expected that the well will test the Barker Creek Formation over the weekend.

Remaining targets are the Barker Creek, Alkali Gulch, and Pinkerton Trail formations and Mississippian Leadville Limestone.

Golden State Resources is currently liaising with various specialists to discuss the completion of the upper gas zones in Paradox Basin #2.

 

[pilots]

ASX ANN

SP GDN 0.20 -0.005 -2.44% 5,110,980 shares $1,019,628 @ 15-May 11:07:21 AM

http://www.asx.com.au/asx/statistics/displayAnnouncement.do?display=pdf&idsId=00953342

15-05-2009 10:13 AM GDN General Update - Paradox Basin

UPDATE – 15 MAY 2009
Paradox Basin #2 Grand County Utah

Paradox Basin #2 is at 13,030’ the bit was replaced for a PDC bit after drilling out the shoe.

Progress has been slower than expected mainly due to the extra bit trip.

It is expected that the well will test the Barker Creek Formation over the weekend.

Remaining targets are the Barker Creek, Alkali Gulch, and Pinkerton Trail formations and Mississippian Leadville Limestone.

Golden State Resources is currently liaising with various specialists to discuss the completion of the upper gas zones in Paradox Basin #2.

No one would drill out the shoe with a PDC bit, so whats the big deal about the extra bit trip, are GDN being taken for a ride again???? Watch your stop loss.

 

[new_trader1984]

hi pilots, they didnt drill out the shoe with a pdc bit but replaced the bit with a pdc bit after drilling out the shoe.

 

[wktswkts]

No one would drill out the shoe with a PDC bit, so whats the big deal about the extra bit trip, are GDN being taken for a ride again???? Watch your stop loss.

PILOTS - why u say no one would drill out the shoe with a PDC bit ?

Since 2003 they have been engineered and designed to do excatly that.

You perhaps have some older rig experience - but you should perhaps keep up with the times and technological advances.

A piece of info copy and pasted from this link for you - even has a pic

http://www.epmag.com/Magazine/2009/2/item28635.php

"After identifying the challenges, Smith’s engineering team set an aggressive performance objective for the 77⁄8-in. hole section as follows: Design a PDC bit that can consistently drill out the 95⁄8-in. surface casing shoe, then continue drilling the Pennsylvanian overburden and top the Granite Wash formation at an average ROP of 50 ft/hr (15 m/hr) in one run."

Your statement i find is misleading

 

[sharemadder]

wkts

Thank you for such a good informative post with good back ground information. We need more of this than some posts that just hit on GDN for everything they do. GDN are using very experienced contract firms for drill rig supply and bore hole management.

Pilots maybe drilling has advanced since you retired. It seems Smith's engineering group can do it. I doubt GDN's executive director Rick De Boer, a much better qualified person than any of us on here, would allow himself or GDN to be taken for a ride.

Things have changed for the better at GDN.

Cheers

 

[DAZT49]

Looking down the track, I wonder how soon after P2 they will target P3.
A third well would really establish th size of the resource wouldnt it?
I guess (talking to myself here) they would complete the workover of P1 first, but get permitting underway for the next couple of wells.
Can they only apply for one permit at a time?

 

[sharemadder]

Dazt

They can apply for as many permits to drill as they want. The only condition is they spud each one within a year from the approval date (State approval). Unsure what BLM (Federal approval) will require for each new well (outside of what they have already supplied for PB#2, paleo, Indian, flora, fauna etc). Permitting time frame should be short, similar to other companies multi permitting drill programs.

Regards PB#1, in my opinion they are waiting for as much option conversion money they can get. If all options convert they get $3 million 22th May and $40 million 30th June. The success of PB#2 will determine if they get into the money. Personally I think they will 'one way or another'. Thats a huge amount of cash not to be let go down the gurgalar.

If they get a reasonable amount of that cash in they can work over PB#1 and expand drill plans for another 2 to 3 wells, all depends on PB#2 outcome. PB#2 of course is looking nice but in the end its about getting good gas flow A no brainer really.

Rick De Boer needs to expand on that 'work over' of PB#1. Information is limited on their plans. One Q (pilots may be able to answer this) but would it be better to enter PB#1 again and side track lower sections again on the basis that the company has declared that salt intrusion has damaged the lower integrity of the well? Most likely cheaper option.

Cheers

 

[pilots]

Dazt

They can apply for as many permits to drill as they want. The only condition is they spud each one within a year from the approval date (State approval). Unsure what BLM (Federal approval) will require for each new well (outside of what they have already supplied for PB#2, paleo, Indian, flora, fauna etc). Permitting time frame should be short, similar to other companies multi permitting drill programs.

Regards PB#1, in my opinion they are waiting for as much option conversion money they can get. If all options convert they get $3 million 22th May and $40 million 30th June. The success of PB#2 will determine if they get into the money. Personally I think they will 'one way or another'. Thats a huge amount of cash not to be let go down the gurgalar.

If they get a reasonable amount of that cash in they can work over PB#1 and expand drill plans for another 2 to 3 wells, all depends on PB#2 outcome. PB#2 of course is looking nice but in the end its about getting good gas flow A no brainer really.

Rick De Boer needs to expand on that 'work over' of PB#1. Information is limited on their plans. One Q (pilots may be able to answer this) but would it be better to enter PB#1 again and side track lower sections again on the basis that the company has declared that salt intrusion has damaged the lower integrity of the well? Most likely cheaper option.

Cheers

A side tract is good if the well is in good shape, good casing, cement on the out side of the casing, the casing is big enough, I would walk away from No one, start again with a clean slate, your number one problem is that all of the Gas around that area are very small pockets, according to the seismic.

 

[sharemadder]

From todays ann. sounds like the PDC drill bit not cutting the chase fast enough, too slow they declare! So tripping for new type of drill bit.

LOL

Day traders will exit fast today imo

 

[z8ball]

Down she goes like the titanic.

Interestingly, WCU, another little project of the GDN boys is also sinking well and truly.

 

[aramz]

You guys don't think a good annoucement is just around the corner still?

Today's announcement and the problem with the drill bit couldn't be a major hiccup could it?