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GDN - Golden State Resources

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... think i can answer my own question there daz,.... 4-5" is a pretty decent size... just remembered when i used to work in holland they were installing 9 5/8" tubing on depleted wells (less than 300 bar at 3500m/11500ft depth) in the groningen field i.e. ready for high flow rates due to need for compression pressure boosting at surface... at 500bar 4-5" is a good size...
 
All Greek to me Chance......just give me the gold lol
They choke down the size as they go up dont they.
I also seem to remember that they had to recase at a smaller diam after the piping was milled from the concrete.
 
geez... just about all options got exercised by holders... maccers only got around 2 million... that's confidence imo.... get the cigar ready dazza...
 
Chance,

Nearly fell off my bar stool when I saw results of options exercised. i agree that is confidence with a capital C. Do you reckon all the institutions converted their opies and only smaller investors decided not to which resulted in only 1.8 mil for mackas.
 
could be... if true that's another good sign... insto's would have access to more info. than the regular punter... makes the 300 grand underwriting fee for the 2 million (600grand) look like a waste of money... mind you if it was the other insto's then they could have been spurred on as soon as they knew macquaries were underwriting... so maybe the fee was worth it.... whatever good news imo....
 
Chance
even tho I am a non smoker ..I do like those port dipped ones!!:D
July 4th (Independance day) tomorrow in the States, will this hold up any ann till Friday??:confused:
 
...been doin' some research (googling on 'extended flow test reservoir') on expected timing of results from the current testing.... here's an article from a well in columbia where a 48 hour well test was used to determine reservoir characteristics.... post this 48 hours test a stable flow rate could be announced... but not reserves...here they indicate 1-2 weeks before reservoir data will be available... and then it'll take more time for the reserves report......


PetroLatina Energy Announces Results of Initial Flow Test of Serafin Gas Well, Colombia
Thursday, February 15, 2007
Latest Oilvoice Headlines

PetroLatina Energy Plc, an independent oil and gas exploration, development and production company, focused on Latin America, announces that initial production testing at its Serafin Well #1 has produced results at the higher end of expectations.

The Serafin well #1 is part of the Serafin Gas Development in which PetroLatina has a 50% interest. The project offers early cash flow and is expected to materially increase the Company’s revenues from its Colombian operations.

Results of Initial Flow Test

On February 13, 2007 the fourth point of the test (on a 48 hour extended flow rate) was completed through a 40/64” choke with a stable flow rate of 14 million cubic feet per day of gas, a flowing tubing head pressure of 1530 psi and a shut in casing pressure of 1716 psi.

Pressure recorders will remain in place for a minimum of 7 days after the well is shut in and detailed reservoir data will be available between one and two weeks following their recovery.

Based on information available in Colombia, the current regulatory commission for energy and gas (“CREG”) gas price for the area in which the development is located is approximately US $3 per thousand cubic feet. The gas is planned to be sold to local industrial users.
 
Picked myself up off the floor and now comfortably back on my beer stool. Think i'll crack another and have an early toast to GDN. I've been in and out and back in again and i'm convince this is going to pay healthy dividends.

chance, your research looks super encouraging if we compare PSI levels, given GDN reported levels upto 8300psi - is that huge or what? Just need well to sustain presure levels and i reckon we'll be home and hosed.
 
chance, hava,sandlion and all.
Good luck today when all our questions will be answered.....maybe.....
if the ann is today... or will we have to wait another 2 weeks for reserves, as chance posted.
 
Thanks to all for all the information. I found out about hotcopper here, and now I am back! What a nightmare. Will be an interesting day or two, but the wait has gone on for so long I can't imagine it will be over just like that! I wonder if there will be a trading halt again?
 
It will take a bit of patience in the next few days especially factoring in the public holiday in the U.S and the track record with announcements in the past made by management.:eek:
 
Sorry I am late lol, been very busy this am THANK goodness, took my mind off GDN.
My plan was to get some more GDN if ann was good so I could get a good parcel of the U thing. Too late now, as entitlements close on 10th, and I needed to sell of some other shares to finance more GDN. (t3 and all)
 
This just in from Mr E-Trade...

"Dear Leon du Sand, Following your enquiry please be advised that owing to technical restrictions, we are unable to update the web page at "Warp 2" or higher speeds. We also note that you have caused a considerable amount of damage to our website by repeated use of the 'refresh' button. Please stop that you silly thing, no amount of OCD pushing is going to make it happen any faster...you egg. Please be advised that Warp 2 is also a term only used on Star Trek...this makes you a double egg"

I have a similar message from last month when ADI were stuffing around.. :D

I do have a relatively dumb question though...I read the U Spin-Off announcement to read that GDN holders will be allocated one share per 3 (or 4 can't remember) they hold. Do you actually get a share or do you get an entitlement? I mean, I already own shares in the U venture, why should I fork out for it again? It's not clear for eggs like me... I would expect that existing owners are given 1 share for each 4 they hold in GDN because they are effectively taking that department out of the shop and making it a seperate entity...would seem very gay to expect us to buy more GDN shares for (albeit in the U venture) when we already own the U through our existing shares...doh!
 
The trouble with warp 2 is that you are in danger of 'morphing' and dissapearing up you own clacker.:D
Thanks for lightening up a dull couple of days sandlion.
True to form GDN is making us sweat once more, luckily I am flat out getting a project done, so havent got a lot of time to stare at the screen.:eek:
 
sandlion said:
I mean, I already own shares in the U venture, why should I fork out for it again? It's not clear for eggs like me... I would expect that existing owners are given 1 share for each 4 they hold in GDN because they are effectively taking that department out of the shop and making it a seperate entity...
Click to expand...

Yes ....we have the option to re-buy the same U tenements with the additional tenements of White canyon.Though GDN (shareholders) will hold 30% of the new company so if you don`t take up the offer there is still exposure to the uranium spin-out.Time for a re-read for me too.:sleeping:



Golden State will retain approx. 30% of the
new entity.
• Golden State shareholders will have a priority entitlement in the capital raising
for the new company. It is intended that the Golden State shareholder
entitlement will be one share in the new company for every four Golden State
Resources shares held at the record date.
• It is intended that the record date for shareholder entitlements will be 10 July
2007.
• It is expected that the prospectus for the capital raising and IPO will be
submitted for ASIC approval in the last week of July.
Click to expand...
 
Yeah,

So my happy little brain reads entitlement as "we get 1 share for every 4 we hold"...not "we get the early chance to buy 1 share for every 4 we hold"...

The glass is neither half full or half empty...its twice as big as it needs to be :D

Mary had a a little lamb
She tied to to a pylon
10,000 volts went up its bum
and turned its wool to nylon

:D
 
1 for 4 @ .35c each.
Doesn't look like an ann today, tho they have posted late in the day before.
No news is.....no news.
 
... I decided it might be possible to make a few bucks off of those of us holders that are teetering close to the edge.... thinking of marketing a pro-forma suicide note along the lines of:..

Dear [Mum,....,.....] and [Dad],

Thanks for bringing me up to be a [worthy, genuine, caring,....,....] [man, woman,.....,.....]. I really enjoyed the [special times, brithday cakes, xmas dinners,.....] we had when I was a [kid,...,...].

I am sorry that my life has come to this, but Golden State Resources has brought me to the end of my [tether,....]. I can't take it anymore. So this is goodbye. With all my [love, respect,....] .

Please make sure you take care of yoursel[f,ves].

Your beloved [son, daugher, ......]

PS if golden does come through please could you get me one of those airconditioned coffins with a TV and minibar....
 

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