GDN - Golden State Resources
- Thread starter chris1983
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bigdog
Retired many years ago
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Petroz reports still not in Leadville.
http://www.shares.com.au/forum/showthread.php?t=2220&goto=newpost
Reporting major gas show in Pinkerton interval, still not in Leadville. Possibly a good trading opportunity here.
They intend to run wireline tests and run a casing to protect the gas shows to date before drilling on to below 16000 ft with 61/2in bit.
Say 48 hours to test, 48 hours to run and cement casing and 8-12 hours to run in string before they start drilling again.
It will be six days before next progress report (other than wireline test results of course).
Also another week of nail biting.
I fully agree with Chris
http://www.shares.com.au/forum/showthread.php?t=2220&goto=newpost
Reporting major gas show in Pinkerton interval, still not in Leadville. Possibly a good trading opportunity here.
They intend to run wireline tests and run a casing to protect the gas shows to date before drilling on to below 16000 ft with 61/2in bit.
Say 48 hours to test, 48 hours to run and cement casing and 8-12 hours to run in string before they start drilling again.
It will be six days before next progress report (other than wireline test results of course).
Also another week of nail biting.
I fully agree with Chris
tech/a
No Ordinary Duck
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this is a hold. There are a lot of daytraders in there atm. But I'm happy enough to just let them sit there over the next 6 months with how things are developing. If your a trader..for sure you would of been out early this morning to grab your profit.
There has been not one negative message. Directors believed the well to be commercial last week. Chuck another major Gas interval onto that. They havnt even hit Leadville. They are in a known area for Gas. Gas is expensive in the US. They are right near the pipeline. This is a no brainer.
Kauri
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constable said:mmm yummy .... chocolates in the box now techa/a
Enjoy them while you can, even chocolates have a use by date..
Kauri said:Enjoy them while you can, even chocolates have a use by date..
lol Kauri. Have you researched on GDN? Do you know what they have found? I find it amazing how so many people dont think a stock can go up. It will be interesting to see where this one is at in the next few months. Then we will know who was right and who was wrong.
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i kinda got that wrong expected it to go a little harder.. have managed to improve my position a little when it fell thru the opening price... looking more solid now finding support for a surge towards close..
Kauri
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chris1983 said:
No, I haven't researched GDN, no I don't know what they have found, and where it is in a few months and who is right or wrong doesn't matter. My spec allowance has been busy elsewhere lately, it only stays in so long as the stock is rising, as soon as it signs of faltering I am out and utilising the money elsewhere on something that is moving. Leaving capital in a stock for a month then having it double verus having it in a stock that makes 20% in 5 days, over a month I guess works out about the same. You like a big box of choccies, I like lots of small ones with he possibility of having a big one drop into my lap.
All the best with your endeavours, heres hoping the Easter Bunny comes early.. 
nizar said:
Below is a good link for natural gas prices in the US.
http://tonto.eia.doe.gov/oog/info/ngw/ngupdate.asp
Its pretty expensive I thought? The US have to import a lot of their Gas dont they? From the website it looks to me as if demand is well out stripping supply?
Hey Kauri.
Nothing wrong with your technique. You must be a well rounded trader like Tech-a. I cant do what you guys do. I find it very hard. Its harder than researching a stock..then picking it and sticking with it. Thats just me though..
There are a lot of traders in GDN atm and they are playing it hard Good on them if they are making a buck here and there. I'm going to hold because I believe they will go further. Always risk involved but I think the risk is getting smaller and smaller.
Nothing wrong with your technique. You must be a well rounded trader like Tech-a. I cant do what you guys do. I find it very hard. Its harder than researching a stock..then picking it and sticking with it. Thats just me though..
There are a lot of traders in GDN atm and they are playing it hard
Good on them if they are making a buck here and there. I'm going to hold because I believe they will go further. Always risk involved but I think the risk is getting smaller and smaller.well i dumped at 82.5 and bought back in at 77 last trade b4 the open didnt get it all . I think the news was good but lot of people had been holding a loss like myself and keen to unload. Should steady tommorow and start consolidating with the news and confidence levels improving.
Good idea to get back In constable.
"Following the survey the well will be cased to protect the gas shows below 9,743’, as a precaution given the large thickness of open hole salt formation and the potential for high gas pressures in the objective Leadville Limestone."
From the message above they are expecting something very big in Leadville.
"Following the survey the well will be cased to protect the gas shows below 9,743’, as a precaution given the large thickness of open hole salt formation and the potential for high gas pressures in the objective Leadville Limestone."
From the message above they are expecting something very big in Leadville.
MichaelD
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This is certainly consistent with today's chart pattern.constable said:
How I interpret today's trading psychologically;
Gamblers punting on what the announcement would bring piled in during the trading halt, hence a gap up, but then sellers wanting to get out at breakeven quickly took out all the new buyers and pushed the price back down.
I'd suggest there is still a massive backlog of buyers from the top of the frenzy still sweating it out, hoping for a breakeven exit. They need to be mopped up before the price can advance again.
i.e. the sellers are still in control of this stock.
I don't know if this is even close to right, but the figures that they are quoting are amazing. 3 billion mcf of gas, 1 mcf = approx 1 MMBTU which sells for $7.50 US.
3 billion x $7.50 = $22.5 billion. even if you lose half in production cost it is
still a profit of over 10 billion and they have only 150 million shares.
Which would equal about $10.00 a share in AUS money.
3 billion x $7.50 = $22.5 billion. even if you lose half in production cost it is
still a profit of over 10 billion and they have only 150 million shares.
Which would equal about $10.00 a share in AUS money.
chris1983 said:
Chris
Every1 has their own style, and you have to stick to what works for you.
But have a think about this.
Does researching a company give it a better chance of going up when it is the market which will ultimately deduce its value?
WHen i asked the same question to a friend regarding fundamental research, he answered that he does it so that he can invest in something "solid" and that he can "sleep better at night". Unfortunately these things have to do with his own psychology and have NOTHING to do with his profitability.
