GDN - Golden State Resources

[hsv2001]

just thought it may be interesting to add, approx. 6 million options were purchased in one trade today at .003c that seems a big investment for something that is potentially worthless.

Sorry but is this OK to post or is this against the forum rules? just thought it was interesting to note

 

[DAZT49]

I saw that trade go through, interestingly no trades since and it was a cross trade.
Agree the guidelines have become a bit mirky, I have asked Joe for some guidance from above.

 

[Joe Blow]

Agree the guidelines have become a bit mirky, I have asked Joe for some guidance from above.

If it is a fact it can be posted.

If it is an opinion and it is supported with some evidence/reasoning/analysis it can be posted.

If it is an opinion and it is not supported by some accompanying evidence/reasoning/analysis then please don't post it.

"Evidence/reasoning/analysis" can be based on fundamentals, technical analysis or specialist knowledge (industry related expertise) but not tea leaves, fortune telling or subliminal messages from your dog and/or television set.

And no posting of buy/sell recommendations or rumours that you heard on another forum. Verifiable facts only please.

Hope that makes things clearer.

 

[pilots]

If it is a fact it can be posted.

If it is an opinion and it is supported with some evidence/reasoning/analysis it can be posted.

If it is an opinion and it is not supported by some accompanying evidence/reasoning/analysis then please don't post it.

"Evidence/reasoning/analysis" can be based on fundamentals, technical analysis or specialist knowledge (industry related expertise) but not tea leaves, fortune telling or subliminal messages from your dog and/or television set.

And no posting of buy/sell recommendations or rumours that you heard on another forum. Verifiable facts only please.

Hope that makes things clearer.

Just had a look at your photo Joe, now I know who you are I will not up set you any more, no way do I want to wake up with a horse head in my bed.

 

[DAZT49]

the GDNO oppies expire in june , exercise price 20 cents .


now this advice/ramp is pure irresponsibility .... the chances of ANYONE buying GDNO and doing there dosh are very high

that is NOT a downramp it is a pure fact .

im a lil annoyed with DATZ,s irresponsible post and willing to take an infraction to voice my thoughts as this sort of post COSTS poor newbies REAL CASH

I see the oppies are up 100% today 14 mill traded.
As i suggested ,a good ST prospect.
Shares up 10% on 30 mill traded.
A small step in the right direction.
Maybe the market can get some 'normality" back in the next few trading days.

 

[hsv2001]

let's hope so, jumped in for some more at .003 but things can chagne quickly from what i've noticed on this stock in a very small amount of time. Nice to note the amount of buyers that went in for both the oppies and the ordinary shares just before close today.

 

[Agentm]

just thought it may be interesting to add, approx. 6 million options were purchased in one trade today at .003c that seems a big investment for something that is potentially worthless.

Sorry but is this OK to post or is this against the forum rules? just thought it was interesting to note

hsv

one technique i was told about is to put down a massive line on the sell, then buy hard into it yourself,,at about 25% you stop, a lot sooner if it runs.. as others see the buy they think its a good thing.. i think you can ask the TA experts here how this cant be misinterpreted. if i understand kennas right, i think he disbelieves me that people have made a killing on gdn,, i think day traders look at their little graphs and to them i believe you will find it just looks like a massive red flag buy, and i believe sheep like it and baa baa buy into it.. add to it a few threads on HC.. like "wowo a whole line taken out .3" .. and you can easily offload 40k of options that would probably not have sold otherwise..


with a share like gdn and with the massive saturation of garbage posts on hc, its the catalyst to allow "the fully sick sophisitaked investors maate" to make a meal of the daytraders and shift out in no time at a tidy profit. these guys have freely got a profit and have traded hard into the massive groundswell of interest this well has created. each cap raising done thus far has seen gdn shift back a touch, then go way higher than the cap raising price and the shares just churn away day in day out. the share right now has traded over $103 million in under 12 months, and most of that in the last few months .. this year alone $90 mill and this month $50 million.. very impressive numbers

the more excited you guys become and the more you swear, abuse insult and throw hissy fits at each post that is simply saying "be cautious" is gold to these guys, it makes the daytrader say hey, i am the risk taker i like paying out on those derampers. i want to be mates with those guys laying into those nasty derampers... and it lulls sheep into holding, feeling strong in the herd they also sometimes impulse into buying more as greed comes into play

the share needs to traded carefully, and cautiously. high risk high reward is ok, but you have to look at how it can fall into a screaming heap in a heartbeat..

i look at the reports posted and see background gas readings myself, and i cant see any gas field, and i cant see any field like this in the backwaters of utah desert being economic at $3 gas.. so my cash is not in this run, maybe later if the rock is good and the economic suit.... as i said i will wait to see if the comapny actually tests the well and gets some flow, then you can see what its worth.. only then!

i think that many have done their shirt on this one, but i doubt if many saw it coming despite people like jhird clearly spelling it out throughout..

just my own thoughts here.. everyone has their own view and is perfectly entitled to post them.. without abuse.. and i think joe is slowly getting a few to understand that..

 

[DAZT49]

agentm,
yr $3, where did you get that?
Latest Henry Hub spot is $3.42us ($4.39aus)
http://www.bloomberg.com/markets/commodities/energyprices.html
Or are you talking of another figure?

 

[DAZT49]

from the last ann.
"Testing operations are being organised to commence during June.
Preparation and planning for tests has been progressing since setting
the 7” casing."
How long till we get some meaningfull results from the testing?
Do they have to complete every zone before they can assess the results, or will (should?)we get results zone by zone.
What chance is there of results before the last trading day for the oppies?

 

[Agentm]

agentm,
yr $3, where did you get that?
Latest Henry Hub spot is $3.42us ($4.39aus)
http://www.bloomberg.com/markets/commodities/energyprices.html
Or are you talking of another figure?

there have been many reports about the gas situation in the USA.

the massive reserves easily accessible in the recent shale discoveries will keep gas at about $3 for some time to come in the lower 48, and any new field development requires a minimum of $6 to just break even, so most companies are shelving any new gas exploration totally. vertical wells would have to be brilliant and consistently brilliant to compete with the economics at $3 so the very poor gas show gdn has will have to become a massive 5 - 10 mmcfpd well to be remotely competitive



examine this article datz.. this one shale play has tuned the gas price on its head, these operators are killing the gas price and will do so for a long time to come..

http://www.popularmechanics.com/science/earth/4318390.html

where as pioneer for instance, they have massive gas reserves in the edwards, they totally stopped drilling any new gas wells from mid 2008 onwards and are only doing a few exploration wells into the eagleford shale where there is oil. they see a big future there.. even with infrastructure in place, processing plants they own and pipelines, they cant make a dollar in texas on gas and wont go anywhere near it until economics gives them the green light, it would be totally irresponsible for pioneer to continue in the gas exploration.

gone are the days of $13 gas datz..



20.05.2009 05:47 PM

Oil and gas explorer Petsec Energy Ltd has reiterated its 2009 production forecasts but says United States gas prices could sink much lower this year.

Petsec is on track to meet annual production forecasts of seven bcfe (billion cubic feet of natural gas equivalent), the company told its annual general meeting in Sydney on Wednesday.

But chief executive Terry Fern said after reaching highs of $US14 per Mcf (thousand cubic feet) in 2008, US gas prices had dropped to about $US4/Mcf and could fall as low as $US2.50/Mcf.

The supply of natural gas in the US had increased significantly in the past year due to the success of non-conventional gas sources, he said.


shale we talk about what i am investing in

 

[hsv2001]

Thought it might be worth mentioning here, WCU a substantial holding for GDN just got their Daneros Uranium Mine Approved, share price for WCU went up 14% yesterday. Could this be relative the the GDN jump ????

 

[pilots]

Reading the last report they said the drilling string became stuck and required a fishing operation, They did NOT say the fishing was completed, hope they are not still fishing, if they plan to re enter this well at a later date, they will have to retrieve the drill string.

 

[wktswkts]

Agree they didnt state that fishing was completed, however the sentence in the statement is quite self explanatory.

"The drill string became stuck and a fishing operation was required."

:shake: :fish:

Reading the last report they said the drilling string became stuck and required a fishing operation, They did NOT say the fishing was completed, hope they are not still fishing, if they plan to re enter this well at a later date, they will have to retrieve the drill string.

 

[sharemadder]

wkts yes WAS is the word, past tense, fishing was required, well I hope so.

May get ann. end of week of update were they upto with completion.

 

[bigdog]

29-05-2009 09:28 AM GDN Paradox Basin No 2 Update
http://www.asx.com.au/asx/statistics/displayAnnouncement.do?display=pdf&idsId=00956911

Testing operations on Paradox Basin #2 will commence on the completion of the design of the testing programme and the procurement of required equipment.

• Unit Rig 234 will be placed on a short term stand-over at no charge, while the programme is prepared.

• RPS-Energy has been engaged to provide engineering support for the completion, design and planning of testing and possible fracture stimulation. Preparation and planning for tests has been progressing since setting the 7” casing.

• It is anticipated that testing will commence during June. The final testing schedule will be released once it has been completed and ratified.

• As many as five zones will be isolated and sequentially tested over a period spanning several weeks. Results for each zone will be released when available.

• The six inch hole from 12,956’ to 14,216’ has been logged with no indications of hydrocarbons. The 6” section has been completed in such a manner that the deeper section can be re-entered at a later date.

• On completion of testing results will be incorporated into a revised reserves report to be prepared by RPS-Energy. This should be available shortly after the tests are completed. Based on current results resources are expected to increase.

Sequential testing of the discovered gas zones in the Paradox Basin #2 on the Golden Eagle Field will commence during June. The programme will include tests on as many as five separate zones over a gross interval spanning 2,238’ (682m). The testing encompasses the lateral extensions of the previously discovered gas in the Upper Ismay and Barker Creek formations which produced gas on test in Paradox Basin #1. A newly discovered zone in the Chimney Rock Formation will also be tested.

In order to evaluate the field, each zone will tested separately commencing in the lowest zone. Typically tests will include measurements of formation pressures prior to flows and measurements of gas rates and pressures during flow tests. Each successful test will include a post-flow build-up and as a result each test is expected to take several days. If required a fracture stimulation will be conducted in one or more of the completed zones.

 

[pilots]

This I report I find unbelievable, show me ONE drilling operation that stopped drilling and did NOT go on to a test program the same week, looks to me like a stall for time. Nothing in the report as to when the fishing was completed. The one thing the report tells me is that the two wells are no way connected together.

 

[DAZT49]

This I report I find unbelievable, show me ONE drilling operation that stopped drilling and did NOT go on to a test program the same week, looks to me like a stall for time. Nothing in the report as to when the fishing was completed. The one thing the report tells me is that the two wells are no way connected together.

Pilots,
Stall in time for what???
They need results and fast or the oppies will be 0c and they wont raise the $30mill.

 

[Wysiwyg]

In keeping with my conservative BESBS style, I sold out of GDN today. Managed to get out at 15.5c average after an entry at 5.8c (see earlier posts) so very happy with the result - around 170% profit.
No longer holding...

Nice lil profit but +20c would have been nice. As expected the s.p. dived after drilling. Well done. (again)

 

[BESBS Player]

Hi, WYSIWYG.

Thanks for the compliment. 20c would have been nice but this assumed that confidence would return to the GDN SP over the following few days I sold. I could not be sure so I exited and locked in the profit. Upon reflection, Boring approach - true... Could have made 210% in hindsight - yes, true... Going to go broke making profits of 170%...unlikely.

I have kept quiet on this thread as I genuinely hoped (and still do) that holders manage to make a motza as GDN hits proven commercial gas. At this stage, the best that can be said is that the jury is still out/waiting although the share price suggests that many in the business think success is now much less likely than a month ago. Hopefully things will look up and the SP rise.

All the best with your investments.

B

 

[pilots]

Question???? I have drilled many holes that hit basement way to soon, what did we do. First POOH, Log the hole, set plug at bottom of last casing, time so far 24 to 48 hours max. NEXT we started our testing program.
That VERY next day, no waiting for a program to be made up.
This story about how long it takes to make up a test program has a VERY bad smell about it. The logs will tell them what zone looks good, now all they have to do is work on the bottom zone only, as this is being tested they can draw up test program for the next zone above. This leaves us with two story's, first if the logs for the top of the hole tell them it is a duster they won't want to test the hole,(this will be the end of GDN). Second story, if the logs tell them that they have good zones, why the hell are they not testing b4 for the Oppies expire. They can not use the story that they are waiting on a work over rig, or waiting test tools as right now you have rigs stacked all over the USA. So once again we are in the dark with this lot. Now can you tell me, story one or two.