GDN - Golden State Resources

[petee]

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.

100% agreed especially on this down news today..

 

[chris1983]

post from another forum site. The guy who posted has experience with drilling wells

"You wont like this. What has happened is one giant stuff up. First they have Cemented the drill pipe in the well, this means that the Cement that should be on the out side of the casing is on the inside. I am sure they now will have to perforate the casing and then pump cement in to the out side. I would say this will take up to three weeks at least. This is a normal day at the rig, don't worry, the gas is still down the well."

So its another delay..but nothing that cant be fixed. Its quite annoying..but hey atleast the well hasnt collapsed. If they get absolutely smacked they might be worth looking at/topping up on.

 

[rosesny_1]

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

Of course anything can happen in a well, but as an American oil and gas investor, I can assure you that the American drillers are the best in the world at deep land wells. They are experienced and are drilling them constantly - for example many in the Bartlett Shale, a very large play in Texas/Oklahoma, often go to 20m feet without difficulty.

 

[tarnor]

I sold on open today anticipating some panic when no announcement came hoping to get back in cheaper on close... was a very lucky play. Pretty happy about the ann actually.. can get more then i had...

I liked how they confirmed that they were definately about to enter the leadville.. a lot of people were concerned that it might not be thier after all the target revisions. hopefully it will come a bit lower short term..

 

[bigdog]

ASX ANN today GDN 10:20 AM Drilling Status Report

http://www.asx.com.au/asx/statistics/showAnnouncementPDF.do?idsID=00679158

The well is cased to the bottom of the hole at 15397 feet

10 more days to retrieve 1000' of drill pipe with minimal risk

After recovery of drill pipe then continue drilling on to Leadville

There was NO other 'adverse' news

 

[chris1983]

Sold these at 68 cents. Pushed all the money into ERN. hmm. GDN are just having too many delays and negative press. I still think they will work things out..but maybe a re-entry in a months time is a better avenue.

I still think long term they will get this well going..but hey..I wasnt willing to watch them get pushed down anymore. I'll wait untill these problems start to go away.

 

[Mr Right]

Sold these at 68 cents. Pushed all the money into ERN. hmm. GDN are just having too many delays and negative press. I still think they will work things out..but maybe a re-entry in a months time is a better avenue.

I still think long term they will get this well going..but hey..I wasnt willing to watch them get pushed down anymore. I'll wait untill these problems start to go away.

Well the biggest rise will be in the next 2 weeks for GDN, I just got in at 0.65. I dont know much about ERN why do you think it is a good bet?

 

[chris1983]

Read the ERN thread. Dont want to go into detail under this thread. I just think they are a good bet. Anyway..I think GDN will still do well. There is gas down there. But I'm just waiting. If I miss out now..I miss out. The stock I got into is allready up..Its hard to have them all.

 

[bigdog]

rosesny_1,

Can you please provide GDN updates that you may be aware of?

We do appreicate reading your valued updates

 

[constable]

GDN is running

Are you for real? its moved 1.5 cents and hasnt beaten the high 3 days ago, plus volume is still ordinary . Sure there is a little bit of interest in the stock but i think when you post to the forum with " its running " you perhaps should add a little fact behind the post, otherwise its just ramping.

 

[Mr Right]

Are you for real? its moved 1.5 cents and hasnt beaten the high 3 days ago, plus volume is still ordinary . Sure there is a little bit of interest in the stock but i think when you post to the forum with " its running " you perhaps should add a little fact behind the post, otherwise its just ramping.

This share is very predictable it runs every friday before an expected release it wont be much different this time. I dont think this is rumping

 

[bigdog]

For those interested in the tech talk related to GDN drilling and progress reports (or any other mining company) please check out this site:

http://www.glossary.oilfield.slb.com/search.cfm?Discipline=Drilling

Drilling
Drilling terminology deals with major rig components, processes and equipment required to drill and case a well. Definitions in this module range from abnormal pressure to penetration rate and zip collars, and many are augmented by color photographs or high-quality illustrations. All definitions have been reviewed by technical experts in the field of drilling.

 

[bigdog]

GDN 9:19 AM Drilling Status Repoet -- they need a spell checker!

http://www.asx.com.au/asx/statistics/showAnnouncementPDF.do?idsID=00682550

Drilling yet to start and still continue to remove pipe lost

Two more weeks need for recovery before drilling starts

 

[ozeb]

anyone with any news about GDN? seems to have quietened down in here. could this be due to the lost pipe (what does this mean actually? did the physically lose a pipe? and how small is the pipe if u can lose one?) which has caused a delay in getting the gas out. am i right to say that there is a huge amount of gas but they just cant get it out? or they still dont know how much gas there is???

anyone with answers please....
cheers

 

[bigdog]

ASX ann today GDN 1:38 PM Drilling Status Report – 10 January 2006

-- still recovering lost pipe and drilling to continue after recovery in est tw weeks which is taking a long time!

http://www.asx.com.au/asx/statistics/showAnnouncementPDF.do?idsID=00684255

Paradox Basin #1 oil & gas well, Grand County, Utah, is at 15,397 feet (4,692 m) in the Pennsylvanian Molas Formation, at the top of the well’s primary objective

• The well has been cased to the bottom. The rig is recovering a length of lost drill pipe above the casing hanger, prior to drilling into the Leadville Limestone objective

• Lost pipe recovery is proceeding on schedule, with over 50% recovered, and 742 feet remaining in the well Golden State Resources is pleased to announce progress on the Paradox

Golden State Resources is pleased to announce progress on the Paradox Basin #1 well in Grand County, Utah.

Paradox Basin #1 is at 15,397 feet (4,692 m), in the Pennsylvanian Molas Formation, a distinctive terra rossa palaeosol horizon formed on the top of the Leadville Limestone, the primary objective of the well.

The well is cased to the hole bottom at 15,397’. The rig is currently recovering a lost section of drill pipe left in the hole, attached to the casing hanger, above 9,150’.

Recovery rates are as predicted in the previous announcement of 2 January 2007. The lost section is currently free of the casing wall and is being recovered by washover pipe, at rates of up to 80’ per day.

So far 749’ has been recovered by washover pipe, with an additional 55’ milled. There remains 742’ of pipe left in the well to be recovered. Once recovery is completed the well will drill on into the major objective Leadville Limestone.

It is expected that the recovery operation will take approximately two weeks.

 

[constable]

Little bit of a pick up in interest. This may start the ball rolling again towards their expected drilling start and the illusive leadville target. Its like counting the day to xmas.

 

[bigdog]

Agree looking much better and up 5 cents today
-- was down to 50 cents yesterday

GDN $0.60 +$0.05 +9.09% 890,674 share $510,724 11-Jan 15:01:19

 

[rosesny_1]

Following link contains operational update from Delta Petroleum. The first two updates are on Paradox Basin discoveries which are approximately 65 - 85 miles north of the Lisbon Field and, I believe, in the general area of the Golden State prospect. The Greentown prospect discovery contains up to 3T+ of natural gas and NGLs. The Salt Valley probably contains probably 25 million barrels of oil.

http://finance.optonline.net/Engine...=3821107&Ticker=DPTR&SOURCE=LATH04011012007-1

 

[GreatPig]

Broken above the recent downtrend today with a tiny gap.

GP

 

[rosesny_1]

Following is a link to a Tidewater Oil and Gas web page that talks about two Grand County Utah prospects that are believed to be next to the GDN well that is currently drilling. The second talks about the Leadville formation.



http://www.tidewater-oil.com/7500Plus.htm