GDN - Golden State Resources

[Bignote]

datz

there was one interval in each of the the barker zones. each took about 48 hours, so I would expect the same for each interval to come.

So it depends if there is an ann for each interval or for each zone; so it may depend on whether an individual interval is worthy of an ann.

others more knowledgeable than i may wish to elaborate.

 

[sharemadder]

Bignote

If there are several zones then to test within each formation (akah and upper ismay) it then makes sense to me then why they said "The Company anticipates that, through developing a number of such gas producing intervals, flow rates in the well can be brought to a level suitable for commercial production. Additional zones with incremental flows are anticipated from higher (shallower) intervals indicated during drilling as having production potential." This being the case you can see why the directors are still positive about the well and have not P&A. One of these incremental flows may also prove to be a gusher. One hopes anyway.

 

[DAZT49]

You would think, as they are relying on the accumulated flows from Akah n Ismay to be truly commercial, they will wait untill they have all the flow info before any ann.
(Unless they get a big flow from any single zone.)
They were due to finish and report on the final drill hole on the U thing last week,but will probably save that info for the release of the prospectus.

 

[sharemadder]

The extension was the 24th for the U thing. Surely they will ann on that tomorrow. Also if the well through incremental flows becomes commercial then what is the immediate share price valuation for the well then also for further developments given they now have a better understanding on 1. the geology and 2. Utah drillers and their methods. They have 25000 acres to explore. If they better position the next well could be the gusher we all hoped for. Speculation I know

 

[new_trader1984]

Hi, has anyone sent any emails to the directors lately and recieved a response?

I sent an email with a couple of questions but havent recieved a reply. The questions were about the upper formations since in the reports they say there is only 2 intervals left to be tested but should be about 5 intervals left to be tested plus the oil interval.

Just the 2 intervals they are planning to test by reports are smaller compared to the others they havent mentioned in the same formations, and from what i have read the desert creek, ismay and akah formations are where a large amount of gas and oil is produced from.

So far today the blue line on the charts is above the red line suggesting buyers are buying slightly more bigger parcels of shares compared to each seller today. The blue line has been above the red line all day.

 

[sharemadder]

NT1984

I have sent two emails in last 10 days and no response. I usually get a response to about 1 out of every 2 emails over last 6 months. My last reply about 6 weeks ago still had John saying it was going to be productive. I would imagine they would of been receiving a lot of hate email with the current SP demise. Probably replying to no one, even us LT faithfulls.

 

[new_trader1984]

Thanks sharemadder,

I sent an email a while back sometime last year without a response either, i dont sent emails to directors much just would be good to know which intervals are going to be tested though.

The trading is very low for gdn so not many are willing to sell any more at the current prices which is good. hopefully some news will come out tomorow.

 

[new_trader1984]

Hi i was just looking at the volume over the last month the last day the volume was as low as today was on the friday 6th of july when an announcement came out the following monday about the lower barker creek results.

Looking at today's chart even with the small volume thought worth showing.

Last wednesday on the chart it had the blue line above the red from around 3pm. Last Thursday when the increased buying pressure happened from 1:45pm when the 200 000 share purchase went through the blue line had crossed the red line and stayed above until close. Last friday there was a small volume traded but the blue line was never above the red line very long and normally stayed close which meant the size of the purchases were about the same as the sellers.

Today even though was low volume was different, from open today the blue line was above the red line and stayed above the red line for the full trading day. If you look at the chart from around 2pm today there was a bigger gap between the blue and red line which meant the size of the parcels purchased are about 1.3-1.5 times bigger than the amount of shares sold. This may not be that much but anytime there are buyers wanting more shares then sellers wanting to sell is a positive because if people were wanting to sell the amount of shares on the sell side would be bigger then amount of shares wanting to be bought which would mean the red line would be above the blue line.

Also the last 2 days trading volume is only about half of the volume that was traded last thursday, so it shows there are lots of people holding their shares until the next lot of news.

Can i ask for peoples views on what is a good percentage return if held a stock for 1-4 weeks?

Thanks.

 

[DAZT49]

NT,
If I could answer your last question I would be a rich man..especially with GDN.
Tho having said that 3 things can happen
1. Good news = SP up.
2. Bad news = Sp down
3. No news = SNAFU
We are creeping up on Judgement Day..lets hope its not obliteration!!
(Still have a feeling in my water that we will all be happy chappies)

 

[new_trader1984]

Hi dazt49,

the reason for the question about the average returns for 1-4 weeks was over the last month i had done scans using smart money over the 4 weeks 51 stocks came up i looked at that had given indications that demand was increasing. Sometimes this causes a share price move soon after the demand increase other times it seems to sit or fall over a week or 2 before any price move upwards.

Out of the 51 stocks 43 of them after 4 weeks had increased, looking at the price increases the average from the 43 stocks were about a 25-30% return, with some stocks returning 50-100% or higher for the month.

43/51 isnt that bad i thought thats without looking at any part of the companies just a scan and watch for a month. Wouldnt wait a full month to sell out but i watched the stocks for a month to see what the high they reached was from the day it started over the 1 month period.

I didnt invest in any of these stocks it was just running a scan and watching to see if this demand supply indicators worked.

This afternoon’s trading was interesting, why the sudden interest from 3:25pm today in 30 minutes over 6 million shares were traded with 3 trades of 500 000 shares, and many more between 100-300 000 shares too. Some might consider 20-100 grand on one stock not much to invest into a speculative stock, but to most I would think 20 grand or more is a lot of money. Any thoughts on why the sudden interest?

Last Thursday over 9 million shares was traded with over 5 million traded in last 2 hours which sent the price to a high of 25.5 cents that day. The sudden buying volume happened in the late afternoon but was over a longer time frame.

Today the same thing happened but was done in less than 30 minutes from 3:30pm with more than 6 million shares traded but no price move.

Last Thursday’s chart shows a high point where the blue line was at 2.2678 and the red line was at 1 this meant the amount of shares each buyer wanted was 2.2678 times bigger than each seller wanted to sell that day.

Today the biggest difference between the blue and red line was when the blue line was at 1.6546 at around 3:30pm and the red line was at 0.5862. This means each buyer wanted 2.8225 times more shares than each seller wanted to sell.

Example of this would be if a seller wanted to sell 100,000 shares, the buyer at the same time was interested in buying 282,000 shares.

The 2 charts below the first shows the full days trading where the blue line was above at the start of the day and again from 3 30pm where the large volume went through.

The second chart is of the last 2 hours of trading.

 

[sharemadder]

Again strange trading. Almost like someone selling to themselves . 9 million shares churning is significant money especially 6 million in last 1/2 hour. No ann again . One-up from HC said he spoke to John who said fraccing tomorrow. Maybe problems with rig .

 

[sting]

Saw the ann notice on my screen and opened it with anticipation....and what do I get another lot of nothing........

Im totally convinced these lot are are ex army.... for those of you who also have served or like me are currently serving the old army adage applies....

HURRY UP AND WAIT

Semper Ubi Sub Ubi

 

[sharemadder]

Oil & Gas and Uranium Update

25/07/07

• ParadoxBasin #1 gas discovery well, Grand County, Utah, is undergoing
continuing completion and stimulation activities. The Company is assessing
incremental gas flows from various levels in the well.

• The Akah gas interval has been perforated successfully. Flow tests will
follow fracing.

PARADOXBASIN #1 OIL & GAS WELL, UTAHUSA

The Directors of Golden State are pleased to announce that perforation in the Akah gas interval has been completed. Flow tests will follow hydraulic fracture treatment of the interval.

The potential Akah dolomite reservoir was perforated between 10,815’ and 10,850’. Fracing will proceed tomorrow, followed by flow tests. Testing of the Akah interval follows previously reported successful low-level flows in the Upper and Lower Barker
Creek gas intervals. The Company anticipates that, through developing a number of such gas producing intervals, the flow rate for the well can be brought to a level suitable for commercial production. Additional higher (shallower) intervals indicated during drilling as having production potential, will be tested following completion of this
Akah interval, including the Upper Ismay (9,845’ to 9,858’) gas bearing interval.

ParadoxBasin #2 Well
It is planned that drilling of the follow-up Paradox #2 well will begin in early October, contingentupon grant of the Application for Permit to Drill.

Initial 100% Ownership and Operator
GoldenState holds an initial 100% interest in this well, and operatorship through its 100%-owned US subsidiary, Golden Eagle Exploration LLC. Denver-based joint venture partner Eclipse Exploration Inc has the right to back in with a 16.67% working interest after the drilling of two wells by GoldenState.

UTAH URANIUM PROJECT AND IPO
A timetable for the release of the prospectus (including shareholders’ entitlement record date) is expected to be finalised this week. The release of the timetable has been awaiting the completion of legal and technical due diligence that forms part of the IPO prospectus.

No major or unexpected issues have arisen from the due diligence studies so far.

 

[the barry]

Oil & Gas and Uranium Update

25/07/07

• ParadoxBasin #1 gas discovery well, Grand County, Utah, is undergoing
continuing completion and stimulation activities. The Company is assessing
incremental gas flows from various levels in the well.

• The Akah gas interval has been perforated successfully. Flow tests will
follow fracing.

PARADOXBASIN #1 OIL & GAS WELL, UTAHUSA

The Directors of Golden State are pleased to announce that perforation in the Akah gas interval has been completed. Flow tests will follow hydraulic fracture treatment of the interval.

The potential Akah dolomite reservoir was perforated between 10,815’ and 10,850’. Fracing will proceed tomorrow, followed by flow tests. Testing of the Akah interval follows previously reported successful low-level flows in the Upper and Lower Barker
Creek gas intervals. The Company anticipates that, through developing a number of such gas producing intervals, the flow rate for the well can be brought to a level suitable for commercial production. Additional higher (shallower) intervals indicated during drilling as having production potential, will be tested following completion of this
Akah interval, including the Upper Ismay (9,845’ to 9,858’) gas bearing interval.

ParadoxBasin #2 Well
It is planned that drilling of the follow-up Paradox #2 well will begin in early October, contingentupon grant of the Application for Permit to Drill.

Initial 100% Ownership and Operator
GoldenState holds an initial 100% interest in this well, and operatorship through its 100%-owned US subsidiary, Golden Eagle Exploration LLC. Denver-based joint venture partner Eclipse Exploration Inc has the right to back in with a 16.67% working interest after the drilling of two wells by GoldenState.

UTAH URANIUM PROJECT AND IPO
A timetable for the release of the prospectus (including shareholders’ entitlement record date) is expected to be finalised this week. The release of the timetable has been awaiting the completion of legal and technical due diligence that forms part of the IPO prospectus.

No major or unexpected issues have arisen from the due diligence studies so far.

The one thing that would be of major concern is the comment "The Company anticipates that, through developing a number of such gas producing intervals, the flow rate for the well can be brought to a level suitable
for commercial production."

Hope for long term sufferes that they announce soon that the well is commercial. Suprised that it wasn't smashed today along with everything else

 

[DAZT49]

What have they been doing since the last ann (16/7)??
Nearly 10 days and they havent started the fraccing procedure, does it take 10 days to perforate a zone?
This note..
The Company anticipates that, through developing a number of such gas
producing intervals, the flow rate for the well can be brought to a level suitable for commercial production.
Is EXACTLY the same as the ann of 16/7 and indeed its seems most of the ann is a cut n paste job from previous anns.
This one..
Paradox Basin #2 Well
It is planned that drilling of the follow-up Paradox #2 well will begin in early October, contingent upon grant of the Application for Permit to Drill.
translated means
"Richard, they want to know when Para 2 is gunna start, and we havent got the permit yet, what will we tell em?"
Richard .."I dunno ...tell em October"
The note re the U spinoff is the only one that seems to be believable.
Having said all that..I hold, and I am optomistic.
Its just TORTURE thats all.

 

[new_trader1984]

Todays announcement didnt tell us much about what other intervals they are going to test but in todays announcement it does say shallower intervals will be tested which means they will be testing more intervals besides the akah and upper ismay 2 intervals.

One new part in today's announcement compared to the previous ones is the akah interval which originally was a gas show from 10825-10833 which was then increased to 10815-10833 when table of expected intervals to be tested has now been increased to 10815-10850 an increase of another 17 feet from the table at the start of flow testing the intervals.

Not sure what this means but so far this has been done on the last 3 tested intervals.

With todays report saying they will be testing shallower intervals from reports last year during drilling i would be expecting them to test intervals of
10714-10765
10377-10418
9930-9960
9742-9746
9845-9858
Total amount of gas shows is 139 feet plus the 35 foot interval in the akah formation. Total of 174 feet.

Plus the oil column which would be last at 9411-9431.

The intervals that are about to be tested which is akah, desert creek and Ismay formations all produce oil and gas at many fields in significant amounts.

If we need about 2mmcf in total they need to have flow rates of around 0.3mmcf for each interval or better. But might be lucky and get 1-2mmcf on the shallower intervals.

BUR released an announcement the other day they had a flow rate of 4.2mmcf per day they are already selling the gas, but to get that flow rate they used horizontal drilling. It has been mentioned that horizontal drilling can increase flow rates by 3-5 times compared to vertical wells. This would mean bur on a vertical well would be producing at 0.84-1.4mmcf per day. This was also enhanced as they had hit a sweet spot which is an area of enhanced fracturing which would increase the flow rates.

GDn's first well was to target as many intervals as possible and wasnt in the best position to reach any of the formations in the best place for higher production levels.

If they need 1-2mmcf per day for a commercial well they should get it if the other intervals flow which being formations that have been productive at other fields it would be likely those intervals should be productive hopefully.

Anyone have any thoughts on the high volume of over 6 million yesterday in 30 minutes to the 4.7 million traded so far today which included over 700 000 shares all went through at 2:46pm?

 

[sharemadder]

NT1984

I believe there is sponsor broker support happening (i.e. CK Locke). If the stock was going to be trashed would of happened by now and be at 10c. Mums and Dads wouldnt touch it (well maybe a $500 flurry but thats all) not in the volumes going through. You know being very optimistic I reackon they may get that 2mmcfd. If they dont we can't say they havent been persistent and as you point out with several more levels to test why give up now. Hope it comes good for us holders.

Regards Oct spud second well maybe they have had a wiff of when the permit will be finally stamped 'approved'.

 

[DAZT49]

maddy,
Yep, reckon there is plenty of gas in the tank yet.
Para 1 MUST be at least able to pay for itself already I reckon, hopefully the upper zones can add some sugar, and maybe a little better.
Not convinced they have sighted the approval, reckon they have guessed it will be thru in late Aug and allowed a month to gear up and start drilling.
Sp did nothing today but I spose it held at least.
Have to adjust from Long Term to Life Term

 

[sharemadder]

Dazt49

As NT1984 states there is a lot more gas pay to test yet.

"Total amount of gas shows is 139 feet plus the 35 foot interval in the akah formation. Total of 174 feet."

Long time waiting now so I guess I can wait a little longer, pleanty years left in me yet.

Here's hoping Akah flows strong.

 

[DAZT49]

These forums are great for trying to harvest information, and for some soul support, but certainly a gaggle of misinformation, rumour and manipulation..a huge factor in blood pressure/stress tension.
Before the internet we would have to wait for monthly reports/ AGM's etc to have our curiosity satisfied. Now we want instant gratification..not really how mining and industry perform.
They are painstaking and arduous undertakings, just try and get some plans drawn and bulid that carport you have planned for the new Beamer.