GDN - Golden State Resources

[BMW540]

R.I.P GDN
The only reason this is falling is because GDN is a pump and dump. Warned everyone last week.
19c was the time to exit. Anyone could see that. Smart money got it to run up to 20c whilst exiting net position.
Made good coin on this one.
What will be the next one?

 

[rottodiver]

i too think it was a good idea on the mangements part to stop now too.. lets say that they test and the gas is going to be produced, any ideas on how much that would effect the sp... would it be a significant rise or sit around where it is??

 

[gruntle]

I think these guys are a long term thing now, once they start producing gas their share price will come back up

 

[hsv2001]

What could happen to the options that GDN has on offer?? There is one buyer purchasing 10m shares at .002, that seems a huge investment in something that could potentially be nothing in 1 month. Are there alternate options then having to exercise them at 20c. I ask this because it doesn't quite seem like they will get there buy June and that will be alot of capital they will be missing out on.

Thanks
Marc

 

[pilots]

Very interesting point made by 123 today, he said maybe, MAYBE, they did drill to TD, I can't see this happing, but GDN has been known to bend the truth b4. What will the next lot of garbage be they try to unload on us.

 

[DAZT49]

I cant see that post..where is it??
Its amazing everything has been conspired by management on this one.

 

[sharemadder]

Very interesting point made by 123 today, he said maybe, MAYBE, they did drill to TD, I can't see this happing, but GDN has been known to bend the truth b4. What will the next lot of garbage be they try to unload on us.

Pilots, unload on US. You ain't a holder (are you) so they aren't unloading on you my dear friend.

They did not drill to total depth. They told us that in the announcement.

Pilots stop feeding the monster that spurs fear in some holders with dribble that is not true and can not be proved in any case.

Wait a while then visit the Utah DOGM website and read the public well logs (they run about two weeks behind) and you can see what the drill management are reporting each day.

Please stick to the facts. Save that dribble for the other place

Cheers

 

[pilots]

Pilots, unload on US. You ain't a holder (are you) so they aren't unloading on you my dear friend.

They did not drill to total depth. They told us that in the announcement.

Pilots stop feeding the monster that spurs fear in some holders with dribble that is not true and can not be proved in any case.

Wait a while then visit the Utah DOGM website and read the public well logs (they run about two weeks behind) and you can see what the drill management are reporting each day.

Please stick to the facts. Save that dribble for the other place

Cheers

Lets look at it this way, yes they did NOT DRILL AS DEEP AS THEY WAS GOING TO, but,but,but, whats to say they did NOT find basement, you see I am sure they have drilled in to a fault they did NOT know about, this being the case basement could be a lot higher, this has happened to many drilling companies who have drilled around that place, and that is one of the reasons they DON'T drill there any more.

 

[sharemadder]

Pilots fair enough. If its basement with PB#2 because of fault so be it. imo I am not concerned as they have plenty of strikes to test in the upper portion. Although they did say they are still in Alkali Gulch formation.

Personally I believe drilling deep now and on any other further wells is really not cost effective given risk is too high. Better to stay with 'what they know' in upper zones. They could revisit lower sections once they get some cash flowing.

As you suggested they could test flows with this rig. I'm up for that, see what they ann. soon about that. If I have too wait then I wait as thats what I been doing on this particular stock for some time.

 

[pilots]

Pilots fair enough. If its basement with PB#2 because of fault so be it. imo I am not concerned as they have plenty of strikes to test in the upper portion. Although they did say they are still in Alkali Gulch formation.

Personally I believe drilling deep now and on any other further wells is really not cost effective given risk is too high. Better to stay with 'what they know' in upper zones. They could revisit lower sections once they get some cash flowing.

As you suggested they could test flows with this rig. I'm up for that, see what they ann. soon about that. If I have too wait then I wait as thats what I been doing on this particular stock for some time.

The ONLY way the SP is going to move is to tell us what the flow rates are, and then start SELLING Gas, NOTHING else is going to move the SP, Every one now has been burnt, we have had all the hype and tripe, what you need now is FACTS, FACTS that can be backed up.

 

[sharemadder]

Pilots

There u go again, dribble. FACTS u ask. Pilots please stop.

They have provided facts. Gas shows are facts backed up by measured units of background gas in drillers reports, FACTS. They have provided well depth of gas shows backed up by drillers reports, FACTS.

See Pilots, you are talking nonsense again, in riddles so it seems, rhetorical questioning.

Look, yes they need to flow the gas show zones which have been interepted by a geo US firm as being credible. We know that. Everyone knows that. Thats what is coming next, yeah.

 

[pilots]

Pilots

There u go again, dribble. FACTS u ask. Pilots please stop.

They have provided facts. Gas shows are facts backed up by measured units of background gas in drillers reports, FACTS. They have provided well depth of gas shows backed up by drillers reports, FACTS.

See Pilots, you are talking nonsense again, in riddles so it seems, rhetorical questioning.

Look, yes they need to flow the gas show zones which have been interrupted by a Geo US firm as being credible. We know that. Everyone knows that. Thats what is coming next, yeah.

Back ground Gas won't tell you if the well is commercial. FACT
The facts they have told us about is that they have drilled some Gas zones, and this is from the GDN report that some of them zones ARE POSSIBLE commercial zones FACT. A good fact now would be to know what it will flow. Every well I have ever been on has had back ground Gas, and I can tell you we had a lot of dusters FACT.

 

[maverick11]

I only read the last few posts, and hate to rain on your parade, but pilots is right. Background readings have very little bearing. You can have very high readings and a non-commercial well. You won't get any reliable numbers until it flows and even then it will degrade over time.

 

[DAZT49]

Back ground Gas won't tell you if the well is commercial. FACT
The facts they have told us about is that they have drilled some Gas zones, and this is from the GDN report that some of them zones ARE POSSIBLE commercial zones FACT. A good fact now would be to know what it will flow. Every well I have ever been on has had back ground Gas, and I can tell you we had a lot of dusters FACT.

LOL they cant win with you pilots, they were being responsible reporting "possible zones", if they had said "definate commercial" you would be be accusing them of ramping the stock.

 

[rottodiver]

Pilots.... you must have lost so much money on this company because you seem so happy when you see others losing it and your hate for the company is overwhelming.. i bet you burn up when you even hear or read about gdn. you really do make it hard for the people who need an objective opinion instead of a constant negative one!!!

 

[DAZT49]

I only read the last few posts, and hate to rain on your parade, but pilots is right. Background readings have very little bearing. You can have very high readings and a non-commercial well. You won't get any reliable numbers until it flows and even then it will degrade over time.

So what you are saying is that a well that has no gas readings has an equal chance of success as a well with high readngs.
I find that laughable.

 

[nunthewiser]

Pilots.... you must have lost so much money on this company because you seem so happy when you see others losing it and your hate for the company is overwhelming.. i bet you burn up when you even hear or read about gdn. you really do make it hard for the people who need an objective opinion instead of a constant negative one!!!

in my view he just balancing up some of the unfactual fairy tales posted here and offering a few bits of actual drilling knowledge


repeats tho this and the FMG thread gotta be the best ones out there

 

[nunthewiser]

So what you are saying is that a well that has no gas readings has an equal chance of success as a well with high readngs.
I find that laughable.

um if one reads the majority of drilloing reports of almost ALL listed co,s and there reports , one would notice that most actually hit gas readings

whether it is commercially quantities/viable or not are two different matters

 

[nunthewiser]

and next on GDN , will be the inevitable bounce based on hoping that the actual results of gas readings are of a commercial nature ....... gotta lovem

great trading stock whilst all the vols are shifting around

 

[DAZT49]

"whether it is commercially quantities/viable or not are two different matters"

well, I think we all know that.
The point I am making is that you are all completely rejecting the fact, that they HAVE had good readings. So a well with no readings has equal chance of being commercial, according to you.
And by the way, if pilots is so such a red hot oil man, why isnt he out earning a squillion in the field?
I will tell you why...he is a retired teacher who took an overblown package a couple of years ago, sunk it all into a superfund and went down the gurgler with the rest of us.
he got burnt with Para1,hence the maniacle hatred of GDN.
He Googles all the stuff he posts.