GDN - Golden State Resources

[DAZT49]

hsv2001,
read all the co anns for the last 6 months .
I take it from your post that you have no stock lol

 

[hsv2001]

no, I have been watching it over the last few weeks actually, and I'm a bit confused with the whole mining industry. I'm just not sure where they've mentioned that there will be a major ann i.e. today. I have been tossing up whether to buy in or not.

 

[Sean K]

in my experience of 3 years on these type of forums that the drampers outnumber the rampers.
Also that "supporters" posts seem to be scrutinised more than drampers..
Actually I dont quite know why people who hold stock are called rampers.
What else would you do but want talk the stock up??
True rampers and drampers have a more sinister motives ( ie to influence you to buy or sell)

Not so sure Daz.

It seems clear to me that the bulk of posters on stock forums are lay people who are not professional investors. Non professionals are too emotional about their money and stocks and thus there is an irrational exhuberance both when a stock goes up, and down.

What is important is that if a stock is talked up, then it needs to be backed with some FA and/or TA. When it's not, and can't be, then it is pure and utter ramping. And reverse for dramping.

That is why ASF demands some attempted FA and/or TA to support any form of excitement about a stock.

 

[DAZT49]

hsv,
They are approaching one of the target zones in the well, reported as a Major gas show in Para1.
The market is waitng for that ann IMO
I cant advise you to buy or not but its a good time to do either lol

 

[hsv2001]

Thanks Datz49, I was interested in the options, but given they expire 30/6/09 that could be quite risky given no decent progress from now till then.

 

[DAZT49]

Not so sure Daz.

It seems clear to me that the bulk of posters on stock forums are lay people who are not professional investors. Non professionals are too emotional about their money and stocks and thus there is an irrational exhuberance both when a stock goes up, and down.

What is important is that if a stock is talked up, then it needs to be backed with some FA and/or TA. When it's not, and can't be, then it is pure and utter ramping. And reverse for dramping.

That is why ASF demands some attempted FA and/or TA to support any form of excitement about a stock.

Hi kennas,

Agree about the irrational exhuberance, but as you say the bulk of the posters are lay people, and perhaps there should be more allowance for that in the moderations.
As you know from my own case my suspensions have (mostly)come from railing against the one liner posters ie "its a duster" "falling knife" "titanic""what a dog stock" etc,etc
It seem to me that the bulk of those posts go thru to the keeper.
I know its hard for the mods too and by and large they do a good job.
cheers
daz

 

[DAZT49]

hsv,
I hold oppies, I could sell ATM and make a good profit.
While they arnt going at the pace I would like to see, once they get "in the money" ie the SP gets into the high 20s they should be a good investment iether to sell pre expiry or to convert to full shares.
This all ties back to that announcement you enquired about.
daz

 

[sharemadder]

No news yet. Very quiet but sp slipping now. Wont be long and probably ST traders will hit the exit quick smart on suspicion something is corrupt.

 

[Agentm]

sharemadder

the last report said this

Paradox Basin #2 is currently at 13,318’ in the Barker Creek Formation. A PDC bit was used to drill out from 12,967’ which required an additional trip. The PDC bit was replaced by a button bit at 12,935’ as rates of penetration were too low. The current trip out of the hole is the third since drilling the shoe and this has lead to some overruns in the expected drilling times. Due to the depth of the well trip times are approximately 24 hours. Drilling is expected to resume later today.

3 trips are very expensive, is it possible there is some blockage down there?

when it goes wrong in a drill the costs can be extremely high.. looking at $100,000 per day for the rig at least out there in the isolated regions of utah... in no time your going to make the speculators nervous..

imho 3 trips is very unusual, i was very curious why the sp did not tank on the new myself. pilots mentioned a little about the drill bit and was shot down in flames for having said anything, but you have to admit 3 trips is showing you there is a problem down there surely?

how do you view the current well repair operations? with gdn putting in daily reports on how wonderful the operation is going, with world best practices etc etc.. and most oilers knowing that in any well there is rarely a well completed trouble free, surely the glow comes off when you hit a snag when the reports are all designed to give you that comfortable secure feeling that nothing is going wrong.. it the use of daily reports getting gdn unstuck here? are the holders edgy and jumpy?

is it feasible the 3 trips are indicating a well problem?

 

[pilots]

sharemadder

the last report said this

Paradox Basin #2 is currently at 13,318’ in the Barker Creek Formation. A PDC bit was used to drill out from 12,967’ which required an additional trip. The PDC bit was replaced by a button bit at 12,935’ as rates of penetration were too low. The current trip out of the hole is the third since drilling the shoe and this has lead to some overruns in the expected drilling times. Due to the depth of the well trip times are approximately 24 hours. Drilling is expected to resume later today.

3 trips are very expensive, is it possible there is some blockage down there?

when it goes wrong in a drill the costs can be extremely high.. looking at $100,000 per day for the rig at least out there in the isolated regions of utah... in no time your going to make the speculators nervous..

imho 3 trips is very unusual, i was very curious why the sp did not tank on the new myself. pilots mentioned a little about the drill bit and was shot down in flames for having said anything, but you have to admit 3 trips is showing you there is a problem down there surely?

how do you view the current well repair operations? with gdn putting in daily reports on how wonderful the operation is going, with world best practices etc etc.. and most oilers knowing that in any well there is rarely a well completed trouble free, surely the glow comes off when you hit a snag when the reports are all designed to give you that comfortable secure feeling that nothing is going wrong.. it the use of daily reports getting gdn unstuck here? are the holders edgy and jumpy?

is it feasible the 3 trips are indicating a well problem?

First, I PM the posters about the PDC bit, had I of posted that info I would have been accused of dramping.
The three trips for a bit change is nothing, a PDC bit drills like a rocket ONLY the right formation, if you hit some soft formation it comes to a stop, POOH change the bit, you may have to change the bit EVERY DAY. On a well that is on a proven Field you know whats ahead and use the right kind of bits, this well is still wild cat, you DON'T know whats ahead. One well I was on we POOH changed the bit went back to drilling and got a formation change in two meters, you guessed it POOH change change the bit again.
How ever, don't forget on the first well they run the cones off the bit and had to fish for them, was the ASX told of that???????? I would be sleeping with my finger on the stop loss key,

 

[pilots]

Re: GD - Golden State Resources

I know some will love this post and the rest will hate it and do the best they can to discredit the post and myself.
On EVERY rig world wide you have a bit chart, you must record each and every bit you run in the hole, you record the WT on the bit, the RT, the ROP, Depth in depth out, serial NO, make of bit, and nozzle size, this make it more cost effective for the next well, you can see what you should run and what depth you should start of finish. Now GDN will know which bit they should have run on this well, but this drilling has gone to pot. This tells me it can only be two things ONLY. One Rick and the drilling contractor knows jack poo about drilling, (which I doubt). No Two, the formation is completely different to the first well, this tells me it has had fault lines between one and two, this being the case, you can kiss the Gas good by.

 

[DAZT49]

pilots,
"This tells me it can only be two things ONLY. One Rick and the drilling contractor knows jack poo about drilling, (which I doubt). No Two, the formation is completely different to the first well, this tells me it has had fault lines between one and two, this being the case, you can kiss the Gas good by. "
Your points 1 and 2 both say the well is a duster right?

 

[pilots]

pilots,
"This tells me it can only be two things ONLY. One Rick and the drilling contractor knows jack poo about drilling, (which I doubt). No Two, the formation is completely different to the first well, this tells me it has had fault lines between one and two, this being the case, you can kiss the Gas good by. "
Your points 1 and 2 both say the well is a duster right?

YOU like ME must wait and SEE. Hard to tell but some thing is starting to smell, just now they have to come up with good results, one bad report now and you will see 5c over night, every one can still remember the first well.

 

[DAZT49]

pilots,
If you are in, why arnt you out??
If you are out, why do you care?
Two reasons for no ann today (so far)
1. (most likely) they have not reached the LBC target.
2. Trouble, tho I think they would have released an ann if that were the case.

 

[DAZT49]

Ricky De would have had to have caught a flight in LA or SF on Monday our time to be in Perth ATM.
They had only just stated the redrilling on Mon arvo, why would he fly home?

 

[prawn_86]

Once again this thread is causing numerous problems. As before all off topic posts will be removed and infracted.

 

[pilots]

Ricky De would have had to have caught a flight in LA or SF on Monday our time to be in Perth ATM.
They had only just stated the redrilling on Mon arvo, why would he fly home?

D49, I two find it strange, I would say that they could have stopped drilling for some reason, or what I believe could all so be the answer is that if I had to raise more money, he would be the best man to take to the backers to tell about the drilling ahead, no one at GDN can do this, my thoughts ONLY.

 

[DAZT49]

pilots,
two things there.
1.You are assuming Ricky De is in Perth.(If he is Superman ..yes.)
2. You are assuming they have run out of cash.
Last quartlery said..

WELL FUNDING
The company has raised $5.136 million during the quarter through placements and a share facility. The funds are being utilised on Paradox Basin #2 drilling costs.
I dont think money is a problem in fact (hopefully) I dont think there is a problem. Hopefully we will get an update tomorrow.

 

[arian]

hey guys i'm new to this forum and i got a small amount of this stock
Just hoping there will be a good ann tomorrow

 

[ojm]

"I will tell you how to become rich. Close the doors. Be fearful when others are greedy. Be greedy when others are fearful. ". Applicable here?

I'm in at an average price of $0.16, and am undecided what to do. Wait for an announcement or get out. Or bring the stop in close (which I'm thinking may just get triggered from panicky sellers quite quickly..).