GDN - Golden State Resources

I hope it continues!! given that the options holders are now either very dark on gdn or holding ords are we going to see the sp return to 53.5 c level even without the announcement?

Hi, I have posted about the demand supply charts and smart money using the phoenix ai software.

Just thought to show the chart from todays trading.

From around 11am the demand had increased from around 0.7 up to above 2 which means twice as many shares in the top 5 price levels were wanting to be bought then there were to be sold. So pressure on the demand had increased which suggested a likely price move. The price when the demand started to increase was 36.5 cents, i used 6 tick data for the chart but using 1-2 during the day gave about 10 minutes from demand started moving before a price move happened.

The red line is the ratio of buyers to sellers, during the first hour the red line was above the blue line, the red line meant there were more buyers in the top 5 price levels then there were sellers, which means the buyers in the first hour wernt buying big parcels of shares.

When the demand increased and blue line shares ratio went above the red line this meant smart money was entering which is just each buyer wanting to buy larger parcels of shares. Looking at the chart on the top 5 price levels from around 11am till close today smart money was entering, looking at the trades that were going through also you can see that there were some large purchases going through so the buy depth wasnt being manipulated with bids being placed and then taken away before trades went through.

The lower the ratio is for the red line means there is a lot less buyers buying the shares then there is sellers, but the demand of shares was also staying up high which means each buyer today wanted a lot more shares then each seller was willing to sell.

The blue line has been above the red line on other days but hasnt been for a large part of the day like todays chart except on the 8th and 19th of june where there seemed to be a lot of buying happening all through the day with the blue line above the red line.

This might not mean much but it can suggest there is confidence in gdn because normally people with large amounts of money wont risk it without being fairly confident that they will make a decent amount of money. With the buying today a lot of people are thinking the same to push the demand up to 2 times more shares wanting to be bought then sold during the day.

Just thought this might be of some interest to others.

Is this 'the' big week??
Para 1 report due any time,The U report due, entitlements on the 10th.
Early depth shows some good size orders with a small rise (1c) on opening.
For any long time holders(like me) who have lost sleep,hair and the ability to talk to other people......Good luck lol

...yeah good luck daz... actually dreading this announcement... wondering if it'll come in the form of a trading halt first ... then wait a few hours for the report....???

chance,
It would be great if it is today, tho I reckon tomorrow.
If the ann today it should show up pretty soon (10min to open)
I am pretty sure we all know it is commercial..but how commercial.
Beats bungee jumping to get the adrenalin going

chance fate said:

...yeah good luck daz... actually dreading this announcement... wondering if it'll come in the form of a trading halt first ... then wait a few hours for the report....???

Click to expand...

Another roll of the dice chance.Good luck.Must be that Italian connection hey.I still have some at 70 c.I do have lots of time though.


Slowly slowly catchee ducky.lol.

Wys,
Love your work.
I sold my options and bought heads at $1.10!!
Still got most of em (the options) at 8c so I too have plenty of time.
2 mins to blast off.

hi all

question about the options, are they tradeable?

as my anz etrade wont show market depth as it reports : symbol not found, etc

but it does show the price chart for them? is anz playing up again?

bye

edit : oops i just noticed that the chart stops at 22 june, so i guess they expired there, oops

1 mill sales in 22 minutes certainly steaming along.
Sp holding nicely.Its signifigant if it breaks thru .445c
toc_bat, options have expired so no trading GDNO anymore.

thanks daz

when i saw you write you got em at 8c i thought you were talking recently obviously you got em ages ago

good luck, i wish i had some free money, it looks to me like gdn has found its bottom and is recovering,

bye

edit: by the way what was the exercise price of the options?

toc_bat,
From my fading memory i bought options in Aug 2005.
Dont know what final prices were at expiry, anyone else help out here?
Looks like no ann today.

From the HC site...
John (Haselby)changed his flight and left Perth yesterday (Sun). He would not be there (Denver) till after close of trade today, so announcment will be tomorrow, Tues.

no announcement!.... could be they didn't start the frac job until late last week... delayed because the CO2 containers didn't get to site until a couple of days after the frac unit... just theories....

chance,
Just had a quick look over past anns, they haven't always been at open of market, all over the place.
Just a bit more torment for us.

this is driving me nuts... can't read anything serious into the delays at the moment... could be the geo dude that's writing up the standard compliant reserves report has got the runs and is spending the day on the cr8pper.....

Its about 8 ish pm over there, maybe just collating all documents... just about to fill in the part that ses 440BCF.
Or could be a part of the last space shuttle has fallen thru the communication disc.

..or they've got the 440Bcf... gone straight down the pub for a few pints... and then a couple of whisky shots... and then... and then... 'oh sh.t.'.. 'we forgot to finish the report'.....

SO WHAT DOES THAT ALL MEAN?
ANOTHER 48 HOURS FROM WHEN??
THIS IS REALLY SH*TTING ME TO TEARS!!!!!!!!!!!!!!

DAZT49 said:

SO WHAT DOES THAT ALL MEAN?
ANOTHER 48 HOURS FROM WHEN??
THIS IS REALLY SH*TTING ME TO TEARS!!!!!!!!!!!!!!

Click to expand...

8700psi /14.5 = 600 bar
hydrostratic pressure at 12599' (assume salt water say relative density of 1.1) = 12599 * 0.3049 / 10 * 1.1 = 420 bar

therefore gas water contact is:

600-420 = 180 bar
180/1.1 * 10 /0.3049 + 12599 = approx 18000'

either that's a f..ck..ng huge reservoir... or the pressure data is incorrect....

gonna recheck my maths.... seems unbeleiveable....

ASX ANN today
28-06-2007 04:28 PM GDN Appendix 3B
http://www.asx.com.au/asx/statistics/showAnnouncementPDF.do?idsID=00735544

• Paradox Basin #1 gas discovery well, Grand County, Utah, is undergoing completion and stimulation activities.

• A slickwater hydraulic fracture treatment of the Barker Creek gas interval was completed successfully.

• The well is currently undergoing a 48 hour extended flow test.

PARADOX BASIN #1 OIL & GAS WELL, UTAH USA
A slickwater hydraulic fracture treatment of the Barker Creek interval (12,561’ - 12,599’) was completed successfully. Following a shut in period the well uploaded gas and process water, and remnant drilling fluids. Pressure recorders left in place while the well was shut in indicated a formation pressure of 8,700 psi.

The well is currently undergoing a 48 hour extended flow test. Flows rates and their commercial significance will be determined once gas flow rates from the interval have stabilized.

Following assessment of this interval, further stimulation work is contingently planned for higher hydrocarbon intervals in the well indicated by drilling in the Upper Barker Creek, Akah and Upper Ismay intervals, between 9,845’ and 11,031’.