GDN - Golden State Resources

[tahpot]

From what i am hearing it will be Friday. I also heard that the company is ordering piping so they already know it is a production well.

Yep they mentioned announcement Friday was most likely. Where did you hear about ordering piping?? I didn't ask that.

 

[Mr Right]

Yep they mentioned announcement Friday was most likely. Where did you hear about ordering piping?? I didn't ask that.

Friend of mine has a friend working for a US piping supplier.

 

[jtb]

It was mentioned after the first major gas interval was intersected that piping was to become a priority in conjunction with the permits required to tap into the nearest gas trunkline (only 10 k's away). This was to faciliate flow testing straight into the system ($$$$$) instead of blowing the gas away by flaring (don't remember the projected flows but they were substantial).
As the present well was located to target the high side of the leadville primary it has only brushed the downthrown edges of the secondary targets. Paradox 2 will likely target the big fat centres of the shallower targets and therefore they want to be capable of drawing immediate income from flowtesting significant volumes of gas.

and yes.............I hold GDN

 

[tarnor]

Some really large chomps going thru.. should be into primary target leadville now or very close..


last minute pump.. leak.. or big buyers with last chance to get set...?

 

[chris1983]

Lets just see what Leadville brings...Im confident it will be charged..but we all know what way its going to go if it isnt..even if they do allready have a commercial well..People will sell out in a panic..the signs are looking good though.

 

[toc_bat]

with so much to catchup on for a newbie i must admitt i am not up on the latest ann for GDN,

any kind soul let me know when the leadville ann is expected?

bye

 

[Biggle]

General concensus seems to be Leadville by Monday, but then again Leadville was expected weeks ago, seems to be some positive feeling this time, fingers crossed.

 

[bigdog]

ASX ANN just posted

GDN 10:20 AM Drilling Status Report
-- can not read right now

• Paradox Basin #1 well is at 15,397 feet (4,692 m) in the Pennsylvanian Molas Formation
• The well has been cased to the bottom, and the rig is recovering pipe attached to the casing hanger prior to drilling into the Leadville Limestone objective


http://www.asx.com.au/asx/statistics/showAnnouncementPDF.do?idsID=00676764

 

[chris1983]

yep..more delays. traders will bail..hard and fast. 2 weeks we are going to have to wait. They are doing everything very safely. Dont want to put the well at risk.

 

[toc_bat]

looks like it will bounce back pretty quickly, damn shouldve bought some at the low, wanted to had a gut feel but didnt trust it!

 

[tahpot]

You've still got a chance around 0.68 at the moment...

 

[Broadside]

yep..more delays. traders will bail..hard and fast. 2 weeks we are going to have to wait. They are doing everything very safely. Dont want to put the well at risk.

I think they have blundered but it doesn't change what lies below...for better or worse...hold a few but it doesn't fill me with confidence

 

[petee]

GDN so long under 30cents and then whammo over $1..now back and todays news isnt good give the at least 2weeks uncertainty...testing times this one..especially those who bought in before todays fall..goodluck all but i wouldnt be buying this thats for sure DYOR

 

[Broadside]

GDN so long under 30cents and then whammo over $1..now back and todays news isnt good give the at least 2weeks uncertainty...testing times this one..especially those who bought in before todays fall..goodluck all but i wouldnt be buying this thats for sure DYOR

got in round 30c and traded it so my position now is free carry...prepared for disappointment but hoping they have something substantial...but I would be feeling pretty sick if I got in at $1.20+ at the height of the hype...hope Leadville delivers, if it does even those who paid at the high will be smiling....but it is a long shot

 

[petee]

this is such a deep well..any well at that depth is sure to have its risks..anyone comment on the depth of this well and ur feelings on it

 

[chris1983]

I beg to differ on the well being a longshot. They have cased it and the risk has been minimised. Casing has been completed..its getting prepared IMO. They arent taking any risks to damage the well..if that concerns you..then sell

 

[Broadside]

I beg to differ on the well being a longshot. They have cased it and the risk has been minimised. Casing has been completed..its getting prepared IMO. They arent taking any risks to damage the well..if that concerns you..then sell

you don't think Leadville target is a long shot? that is what I was referring to, not earlier zones....as for shallower targets I reserve my judgment, but I am not selling, it is free carry and the upside is huge (but I believe odds are much against a massive find)

 

[chris1983]

ohh..Leadville..dont know about Leadville. I thought the gas shows they have are allready enough. They say they are on top of the formation. I think its there. They havent drilled onwards yet...its just delays.

 

[constable]

sold the shares today and brought the options for a little less exposure but the same number of units. I think even tho there are some holdups at the end of the day nothing has changed except people are getting impatient.

 

[Mr Right]

ohh..Leadville..dont know about Leadville. I thought the gas shows they have are allready enough. They say they are on top of the formation. I think its there. They havent drilled onwards yet...its just delays.

i dont see drilling starting by the end of this year in which case the share will just get smashed. The same as what happened to ARH from 22 cents down to 0.08 cause people just loose confidence and interest.