GDN - Golden State Resources
- Thread starter chris1983
- Start date
tech/a
No Ordinary Duck
- Joined
- 14 October 2004
- Posts
- 20,417
- Reactions
- 6,356
doctorj
Hatchet Moderator
- Joined
- 3 January 2005
- Posts
- 3,271
- Reactions
- 8
maverick11 said:
Interesting. I've always thought that 5% would be considered rather tight. Happy to be proven wrong. Are you able to give me the names of wells that have been producing for a while with these kinds of porosities in the region?
For purposes of comparison, NW Shelf appears to have 15-25%+ porosity, drills in the Perth Basin producing gas have porosity of 8-32% and in the Cooper, 10-30%.
doctorj
Hatchet Moderator
- Joined
- 3 January 2005
- Posts
- 3,271
- Reactions
- 8
I'm looking at my napkin-valuation for GDN based on different reserves at this drill in light of mav's comment. Just out of interest, what valuation did you come up with?chris1983 said:
doctorj
Hatchet Moderator
- Joined
- 3 January 2005
- Posts
- 3,271
- Reactions
- 8
Really?Snakey said:
I pretty much thought they had a good chance of confirming 50bcf...I still do..thats why I didnt sell this morning in the low 40's. Based off all the reading..reading through their reports etc etc. They valued that from $1-1.50. This is taken from the CK Locke report
"GDN consultants anticipate a high level of success in the first well with anticipated 80% success in achieving a minimum case of 50 BCF. 50 BCF is potentially economic."
I read Analyst's report - StockAnalysis and Analyst's report - CK Locke plus other articles. I thought they were definately worth a go. Thing is I know of people calling the director in Utah and he believes it to be commercial even without Leadville. Question is why hasnt this been announced in asx reports. Many questions..but Im sticking with them.
"GDN consultants anticipate a high level of success in the first well with anticipated 80% success in achieving a minimum case of 50 BCF. 50 BCF is potentially economic."
I read Analyst's report - StockAnalysis and Analyst's report - CK Locke plus other articles. I thought they were definately worth a go. Thing is I know of people calling the director in Utah and he believes it to be commercial even without Leadville. Question is why hasnt this been announced in asx reports. Many questions..but Im sticking with them.
- Joined
- 22 December 2005
- Posts
- 338
- Reactions
- 1
don't wait for any fancy announcements sell out while you still can!!
- Joined
- 16 September 2006
- Posts
- 258
- Reactions
- 0
Well depth and rock type has a lot to do with it. Most US deep wells are nowhere near the values you quoted for the aussie examples.
Here's some textbook info, but these don't take into account pressures and hydrocarbons, etc:
Quartzite 0.1 - 0.5%
Dolerite 0.1 - 0.5%
Granite 0.5 - 1.5%
Sandstone 5.0 - 25.0%
Shale 10 - 30%
Limestone 5 - 20%
Dolomite 1 - 5%
25% in sandstone and 30% in shale is EXTREME particularly under the pressures they are experiencing several km's underground. To get approx 10% on ADI's sugarloaf well in the primary would be mindblowing, but possible for example
Here's some textbook info, but these don't take into account pressures and hydrocarbons, etc:
Quartzite 0.1 - 0.5%
Dolerite 0.1 - 0.5%
Granite 0.5 - 1.5%
Sandstone 5.0 - 25.0%
Shale 10 - 30%
Limestone 5 - 20%
Dolomite 1 - 5%
25% in sandstone and 30% in shale is EXTREME particularly under the pressures they are experiencing several km's underground. To get approx 10% on ADI's sugarloaf well in the primary would be mindblowing, but possible for example
Caliente
Black Gold!
- Joined
- 30 May 2005
- Posts
- 492
- Reactions
- 0
hi constable, on the same token it could also be a loser, as people may not want to hold something so volatile overnight? just some thoughts.
Yes i guess there was a little apprehension but plenty of volume down the buyers side. Tipping it wont capitulate again tommorow as everyones had a chance to bail today. The fact that bargain hunters showed plenty of interest today coupled with the fact that the only sellers at this price would be the people that picked it off today could result in a volume squeeze tommorow. I spose the fact that it still could be a commercial discovery may help it rebound off today as well ! I picked up 30k at the close and look forward to the open tommorow - still prepared to sit on these evenif it goes pear shaped.Caliente said:
- Joined
- 27 January 2005
- Posts
- 392
- Reactions
- 0
On all available info - including what the directors have to say - I believe it is likely to gap up in the morning providing they learn to put the anns in simpler language for the large volume of followers they have 'acquired'.
Will be interesting to see how much depth they can get through in the 24hours from this morning.
The drill was scheduled to start again at 12 - but not sure if that's 12 midnight Utah - or 12 midday ASX. Need email clarification of that one.
Certainly looks oversold to me now - mainly because of lack of understanding, therefore a good clarifying ann could see it fill that gap back up in tech/a's post (I think it was tech?)
Interesting week ahead.
I hold.
Will be interesting to see how much depth they can get through in the 24hours from this morning.
The drill was scheduled to start again at 12 - but not sure if that's 12 midnight Utah - or 12 midday ASX. Need email clarification of that one.
Certainly looks oversold to me now - mainly because of lack of understanding, therefore a good clarifying ann could see it fill that gap back up in tech/a's post (I think it was tech?)
Interesting week ahead.
I hold.
Hi Canny,
How clear is your understanding of their message? I know this part of the message sounds positive.
"Gross sand over the log interval is approximately 860’ (247 m) with 69’ (21 m) of net gas saturated dolomitic sandstone with additional gas potential possible."
Im no gas or oil expert. Definately hard to fully understand the message. I know about uranium/copper and nickel grades thats about it
How clear is your understanding of their message? I know this part of the message sounds positive.
"Gross sand over the log interval is approximately 860’ (247 m) with 69’ (21 m) of net gas saturated dolomitic sandstone with additional gas potential possible."
Im no gas or oil expert. Definately hard to fully understand the message. I know about uranium/copper and nickel grades thats about it
GDN - Porosity in Lisbon Fld., Paradox Bn., Utah
The average porosity of the Leadville Reservoir at Lisbon Field, Paradox Basin, Utah (largest leadville producing field in Paradox) is 5.5 percent and varies from 1 percent to 21 percent. http://geology.utah.gov/emp/leadville/pdf/doloposter1.pdf
The average porosity of the Leadville Reservoir at Lisbon Field, Paradox Basin, Utah (largest leadville producing field in Paradox) is 5.5 percent and varies from 1 percent to 21 percent. http://geology.utah.gov/emp/leadville/pdf/doloposter1.pdf
