GDN - Golden State Resources

[sandlion]

One of the satan-worshipping minions at HC placed a call to GDN...apparently John Hasleby is compiling the report (it's 10:14am UTAH time) so you never know....in the opinion of the one's who walk backwards and breathe sulphur, it is believed that the flow rates have stabilised....

 

[DAZT49]

Sandlion,
Would you believe 10.14pm?
So OUTSIDE chance..today given that GDN have posted as late as 6.12 pm.

 

[chance fate]

thanks sandlion... holding back on the suicide note at the mo'.... rev.2 could include reference to John and Richard in the will.... mean time i was liking the comments in the last annoucement on the well lifting drilling and process fluids... that means the well is capable of cleaning itself up... which means you should be able to get a stable flow.... according to soemthing i read somewhere it has to remain at a fixed flow rate for xx hours with a flowing tubing head pressure deviating only a very small % ... lets hope the permeability post frac is strong enough to enable stable flow at a decent rate - i've got a chart here that says on a 24/64" choke running critical flow you really only need a 3000psi tubing head pressure to get a 10mmscfd export at 1500psi....

 

[sandlion]

ahh..10:14pm...burning the midnight oil is he? Why isn't he burning our gas???

Here is some light information while we (endlessly wait) on the joys of slickwater fracture stimulation...it really does sound like the sort of thing one might pay extra for in a Shanghai cathouse but no...not always...

"A new microemulsion additive has been developed that is effective in remediating damaged wells and is highly effective in fluid recovery and relative permeability enhancement when applied in drilling and stimulation treatments at dilute concentrations. The microemulsion is a unique blend of biodegradable solvent, surfactant, co-solvent and water. The nanometer-sized structures are modeled after Veronoi structures which when dispersed in the base treating fluid of water or oil permit a greater ease of entry into a damaged area of the reservoir or fracture system. The structures maximize surface energy interaction by expanding to twelve times their individual surface areas to allow maximum contact efficiency at low concentrations (0.1–0.5%). Higher loadings on the order of 2% can be applied in the removal of water blocks and polymer damage. Lab data are shown for the microemulsion in speeding the cleanup of injected fluids in tight gas cores. Further tests show that the microemulsion additive results in lower pressures to displace frac fluids from propped fractures resulting in lower damage and higher production rates. This reduced pressure is also evident in pumping operations where friction is lowered by 10–15% when the microemulsion is added to fracturing fluids. Field examples are shown for remediation and fracture treating of coals, shales and sandstone reservoirs, where productivity is increased by 20–50% depending on the treatment parameters. Drilling examples are shown in horizontal drilling where wells cleanup without the aid of workover rigs where offsets typically require weeks of workover."...here endeth the lesson...

I like the bit about increasing productivity 20-50%...we could apply some to the GDN board...lube them lil piggies up and make 'em more productive

 

[DAZT49]

sandi,
io nona comprende.
Its nice that JH is burning the midnight (nearly) lamp to get the ann in before ASX anns close for the day (8pm??) so we can
1. All endlessly multiply our GDN holdings by $x and contemplate how to minimise our huge CG tax next year.
2.Watch the footy without twitching.

 

[chance fate]

slickwater sounds good enough to drink... can you buy that stuff at the local drive thru'?... could be good for when you're having trouble with anal retention!!!

 

[DAZT49]

IT WOULD SURE MAKE YOUR EYES WATER LOL
SANDI ANY COMMENT ON CHANCES QUESTION OF 2 POSTS BACK RE 10MMMCSFD

 

[DAZT49]

Hey Chance,
you are famous over at HC. Your post (no1023?) is getting a run.
Today is what is termed an anticlimax I think
I hope the ann, when it comes is thorough, tho that hasnt been the hidtory on GDN anns

 

[chance fate]

Hey... they're stealing my material!! Was thinking of doing a deal with ASF to go halves on any advertising bonus they get from the number of hits on this thread..! Just goes to show... the regular punter doesn't know (me incl.) what it's worth.... say 50Bcf came up with the promise of more... what would you be prepared to sell at?? reckon there's some punter's that'll be glad to walk away with a dollar... and then there's others that are on the side lines that'll be happy to take that on (some of whom also won't know what they've got!!).... and this is a junior co... makes you wonder how on earth you'd put a value to a company like Rio or BHP....

 

[DAZT49]

Chance,
I am sure you and Kennas can come to some arrangement.
Just wondering what the 'due' process is after JH finnishes his report in the wilds of Utah.
I presume it would be sent back to head office for appraisal by the rest of the board, final draft spellcheck (lol) and then sent to ASX.??

 

[DAZT49]

Off to the local tavern boys, have a good weekend.
Just have to wait till Monday for the Golden Eagle to do its thing.
Cheers
Dazza

 

[ben_Q]

The announcement is out.

http://imagesignal.comsec.com.au/asxdata/20070709/pdf/00737241.pdf

Looks positive to me. Can only improve from here as the other targets are opened up.

The uranium finds to date also look positive!

 

[DAZT49]

I dont know which way to jump.
Hang on..POW down 6.5c another crap day foor GDN and me
Anybody got a posistive?

 

[bigdog]

The market did not like todays AXS ann !!!!!!!!!!!!

GDN $0.33 -$0.075 -18.52% 1,878,662 shares $639,363 @ 09-Jul 10:07:10

 

[elcruzy]

no it did not, luckily for me i waited another 10 mins. i am ready to top up but dont know at these levels...can anyone interpret the ann? what does this mean in BCF units?

 

[DAZT49]

AS PER USUAL GDN MANAGEMENT HAVE GIVEN US A WISHY WASHY ANN.
WHAT WE WANT TO KNOW IS ..HOW MANY BCF??????????????
CANT BELIEVE THIS KEEPS GOWING ON.

 

[elcruzy]

DATZ49 i signed up with HC the other day and am reading their posts - it seems like they are very pessimistic. obviously 0.2mmcf/day is not enough and someone over there highlighted that the well requires the other levels to make up good flow rates.

i have been holding out for ages and could have 5x my initial stake at $1. i'm going to hold out for the flow results next 2 levels but if they arent above 1-1.5mmcf/day in total then i just have to exit. i'm starting to believe that either the management really know something or they are dodgy and overly optimistic.

 

[DAZT49]

Eelcruzy,
There are a couple of good posters ocver on HC but also a lot of crap.
I SHOUDA sold out at $1.10
Going to hold out for Para 2 and then make my mind up from there.

 

[elcruzy]

yah me too - but guess what i promised myself that if it hit above $1 i would sell....and i didnt. greed is good and univeral in all man.

let me know if you had these same thoughts..."if its heading back above $1 again then the well must be commercial and a biggie heading to $4-5 per share, the big boys know what their doing so i might as well hold"....2 months later its running at 35c!!

 

[DAZT49]

If para 2 doesnt hit the jackpot, I dont reckon it will ever get to $2 let alone$4.
I have held on for so long as my broker gave me know reason not too. If you read some of my previous posts 'fundamentals havent changed'....except the market thinks the stock stinks.!!!