GDN - Golden State Resources

[the barry]

11-04-2007 11:32 AM GDN Drilling Status Report

SP now up a few cents on ANN and currently GDN $1.11 +$0.03 +2.78 pct

Currently drilling out approx. 150’ of cement fill at the well bottom. On completion of a bond log the well will drill on at 6⅛” into the major objective Leadville Limestone.

http://www.asx.com.au/asxpdf/20070411/pdf/311w6c5l73w57d.pdf

Drilling Status Report – 11 April 2007
• 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.
• Cementing of casing from the surface to the casing hanger at 9185’ has
been completed. A BOP test has been completed successfully, and following running of a bond log the well will drill on into the Leadville Limestone.

PARADOX BASIN #1 OIL & GAS WELL, UTAH USA
Golden State Resources is pleased to announce that operations casing at the Paradox Basin #1 oil & gas well are proceeding successfully.

Cementing of the new 7” casing from the surface to the casing hanger at 9,185 feet has been completed successfully. The remainder of the well has already been cased at 7” from the casing hanger to bottom at 15,397’.

The rig has completed drill-out of cement, float collar and shoe at the base of the new casing and is currently drilling out approx. 150’ of cement fill at the well bottom. On completion of a bond log the well will drill on at 6⅛” into the major objective Leadville Limestone.

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.

Would you have any idea how long it will be till they start drilling? In a best and worst case scenario?

Thanks

 

[chance fate]

Reckon the forward timetable is:
Wednesday = 1 day - drill out 150' cement plus pull out of hole
Thursday = 1 day - run and interpret bond log
if ok...
Friday = 1 day - run in hole drill ahead..

roughly speaking will have initial results of drilling into leadville early next week...

 

[bigdog]

chance fate - Great call on April 11

SP looking great also on news ann hitting high of $1.18 and currently $1.175

GDN $1.175 +$0.115 +10.85% high $1.18 low $1.04
3,427,195 shares with $3,840,368 @ 13-Apr 15:19:10

The well is expected to drill on into the objective Leadville Limestone within 24 hours.

ASX ann 13-04-2007 02:48 PM

GDN Drilling status report
http://www.asx.com.au/asxpdf/20070413/pdf/311xq4gpvy4gwc.pdf

Drilling Status Report – 13 April 2007
• 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.

• A cement bond log has been completed to hole bottom with satisfactory results. The well is expected to drill on into the objective Leadville Limestone within 24 hours.

PARADOX BASIN #1 OIL & GAS WELL, UTAH USA
Golden State Resources is pleased to announce that operations at the Paradox Basin #1 oil & gas well are proceeding satisfactorily.

A cement bond log was today completed successfully to the well bottom.

Preparations are in progress to run in the hole with a drilling assembly and drill on, within the next 24 hours, into the major objective Leadville Limestone.

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.

 

[chance fate]

Been waiting so long ... this announcement doesn't seem real!!! Reckon there's a few hundred feet of leedville to be drilled .... first indication should be early next week though.... good luck golden!

 

[the barry]

Such a 50/50 bet. Have topped up on the options today. Will either go from hero to zero in a split second. The risk/reward is so great on this one. Either going to have a lot of happy people come monday or a lot heading for the ledge. Very nervous wait.

 

[Agentm]

whatever you do, dont forget to profit take pre announcement!!

 

[zt3000]

whatever you do, dont forget to profit take pre announcement!!

Like now hahaha

 

[Agentm]

yeah i know,, left that a bit late!

good luck to all holders, i have been watching this one for a long time, i have my opinions and i dont care to air them as i dont have a position on this stock, but one thing i love seeing is people making a killing on the stock exchange,, i hope all holders get rewarded for their patience..

good luck!!

 

[bigdog]

The GDN after close sales knocked down the SP to $1.135 from $1.15, $1.16 and $1.17 in final minutes at 3:59 and 3:58 PM

Is this manipilation by the brokers after close?
-- how does this happen?
-- imagine can only be controlled by brokers!

Time(AEST) Price Volume Value Condition Codes
16:10:03 1.1350 4,600 5,221.00
16:10:03 1.1350 850 964.75
16:10:03 1.1350 4,150 4,710.25
16:10:03 1.1350 850 964.75
16:10:03 1.1350 20,000 22,700.00
16:10:03 1.1350 4,150 4,710.25
16:10:03 1.1350 6,450 7,320.75
16:10:03 1.1350 3,550 4,029.25 XT
16:10:03 1.1350 16,450 18,670.75 XT
16:10:03 1.1350 941 1,068.03
16:10:03 1.1350 19,750 22,416.25
16:10:03 1.1350 6,750 7,661.25
16:10:03 1.1350 600 681.00
16:10:03 1.1350 1,959 2,223.46
16:10:03 1.1350 3,041 3,451.53
16:10:03 1.1350 500 567.50
16:10:03 1.1350 7,000 7,945.00
15:59:59 1.1500 10,250 11,787.50
15:59:59 1.1500 10,000 11,500.00
15:59:59 1.1500 4,650 5,347.50 XT
15:59:59 1.1600 2,000 2,320.00
15:59:59 1.1600 5,000 5,800.00
15:59:59 1.1600 18,100 20,996.00
15:59:53 1.1700 2,868 3,355.56 XT
15:59:53 1.1700 5,000 5,850.00
15:59:53 1.1700 5,132 6,004.44
15:59:45 1.1600 1,900 2,204.00
15:59:45 1.1600 8,100 9,396.00
15:59:28 1.1600 6,900 8,004.00
15:59:28 1.1600 5,000 5,800.00 XT
15:59:28 1.1600 1,000 1,160.00
15:59:20 1.1650 10,000 11,650.00
15:58:34 1.1700 5,000 5,850.00
15:58:34 1.1700 2,000 2,340.00
15:58:34 1.1700 11,868 13,885.56
15:57:33 1.1700 1,132 1,324.44
15:57:33 1.1700 868 1,015.56 XT
15:57:23 1.1750 300 352.50

 

[Wysiwyg]

My take on the close was that a 500 pounder placed a sell at $1.20 and others quickly joined in the sell Q.He`s still out there somewhere too.Looked like $1.20 (which is a psyche level) was going to go at one stage.On the positive side of things those who hung back picked their lot up lower.

The power of the purse hey.Money speaks all languages.

Oh,and don`t forget the aeroguard Mr.Walker and avagoodweegend.


:bekloppt:

 

[zt3000]

Have they drilled yet?

 

[Haveacrack]

No news yet. Keeping everything crossed for this one.

 

[bigdog]

GDN 10:03 AM Drilling status report http://www.asx.com.au/asx/statistics/showAnnouncementPDF.do?idsID=00711399

Drilling has commenced and proceeding satisfactory

Currently "Company Trading Status: Pre-Open" this morning

 

[bigdog]

Now trading and up 11 cents and volume VG

GDN $1.245 +$0.11 +9.69% 434,076 shares $527,134 16-Apr 10:10:32

 

[chance fate]

Currently at 15531 ft with target now at 15555 ft (they keep on resetting it deeper!).... that's less than 8 metres...so could mean we hear more news today...

 

[Haveacrack]

Would anyone like to make an assumption on what might happen from here? Market seems to be sitting on the fence.

 

[Agentm]

the stock appears oversold to me, i assume any bad news will have a dramatic effect on the sp. good luck to any holders.

 

[Miklin]

I am anxious to see if the after market close sales knock it down like they did on Friday. I'm hoping it at least closes higher than it opened.

 

[zt3000]

Can someone explain to be the meaning of "elevated background gas levels" and the average 40 units they said in their announcement. Is that any good, average or poor?

Cheers

 

[Haveacrack]

Can someone explain to be the meaning of "elevated background gas levels" and the average 40 units they said in their announcement. Is that any good, average or poor?

Cheers

You should refer back to Drilling status report dated 20 October 2006 to get an idea.