GDN - Golden State Resources

[sharemadder]

NT1984

I am a investor in GDN not trader so I think on similar lines to you.

In regards to the GDN Paradox lease. The wildcat well has proved the area is productive for gas. Risk is now very little when they begin to drill the structure over with further wells. They know they will get gas. This well has been very expensive but also extremely successful regarding wildcat status and new Gas project that can be developed. Further wells targeting known productive zones can be linked for the gas hub.

When I spoke to JH about 3 months ago he spoke in depth about Delta's success. He said we can achieve the same if this well can produce gas.

 

[new_trader1984]

Thanks sharemadder,

Thats why i was thinking delta might be interested in getting a bigger percentage in gdn since they already own a lot of land in the paradox basin im sure they will want to keep increasing on the current 88000 acres. Now they know that gdn have successful flows even if its smaller than we were all hoping for it shows that the structure is productive and gives them reason to consider looking into gdn's acerage a lot more. It would help them know what is happening with the drilling when its a drilling company they own thats drilling the gdn wildcat well.

One part that im not sure about if a takeover was to happen considering the share price at the moment would they get away with a very cheap take over bid if this was to happen for the shares under 1 dollar or would they have to pay a lot more. Just for all long term holders wouldnt want to be taken over for such a small amount.

 

[sharemadder]

I really hope its not a takeover but just stake buying. Not sure how a takeover would work as Delta (being US co.) would have to get permission first from ASIC or relevant goverment body for foriegn ownership (I think anyway).

The real high volumes last three days are hard to decipher. Yes I know there are short term traders in there but the support around 30c was unbelievable. IMO I think we will need another capital raising soon which doesnt bother me to much as they will need further capital to continue to develop the Paradox Basin structure and connect to the gas hub. The sudden rise in SP and volume maybe something to do with this. GDN could be employing there sponsor broker to drive up the SP to a suitable level for such a raising.

In any case many theories but no one is really sure until it is announced.

Today will be very interesting given the DOW climbed beautifully last night. We could see the SP continue its climb upwards towards whatever their (whoever they may be) target price. I'm guessing 50c ish.

 

[DAZT49]

I dont know much about the market, but GDN over the last few days has been
a real mystery.
I dont subscribe to the GDN management/ASX conspirosy, or a few of the other wild ones getting around, even tho I posted one a few days ago lol
The water torture goes on (well..gas/oil/u/iron ore/gold torture)
Domani,domani.

 

[shanty]

0.50ish? Maybe a trifle low? How about this? Uranium is the 'Holy Grail'. One needs four GDN shares for right to purchase one 'U' share. Value of 'U' share after IPO say two dollars. Therefore one GDN share has a potential value of 0.50 (as you said). But 'U' share costs 0.35. So subtract (round number) 0.10 while the GDN shares will still have a residual value, after the sell off following 'record date', of 0.20 (which was and could be again the price/value pre-spudding).
Thus 0.50 minus 0.10 plus 0.20 gives 0.60.
If they manage to reach 0.60 prior to record day I shall sell and avoid the hassle! Who knows!!!

 

[DAZT49]

shanty,
I do think that GDn will take a pounding after the entitlement date, unless the next ann is really something special.
i am in two minds..
1. Sell GDN on entilement of U spinoff shares.
2. Hang tough till 2nd well is under way.
I do like 2. If Para 2 comes up with the goods, the SP will take off.

 

[shanty]

Aaah! I should have said, I would try to have my cake and eat it! Sell two thirds (held some since the 'beginning' so average already under current price) but hang on to 100,000 for the very reasons you refer to under two. Have a nice day!

 

[toc_bat]

shanty, dazt,

the record date has not been published yet for the U IPO or has it? Last mention of it i can find is that it is yet to be finalised, this from an ann in late June

bye

 

[sharemadder]

Well after some extreme searching on the BLM web site LR2000 public search software I think I found Golden Eagles APD for Paradox #2 on federal land (See Below). Just thought you all may be interested. Remember the State of Utah does not manage APD's for wells on Federal or Indian lands, that's the BLM's job. The Case Disposition is AUTHORIZED so this means they are still working through it. Trying to find more information on the status atm. Cheers all.

GOLDEN EAGLE EXPLRN LLC – HOLDER – 281001 - UTU082648 – CR – AUTHORIZED
GOLDEN EAGLE EXPLRN LLC – HOLDER – 287001 - UTU083377 – CR – AUTHORIZED
GOLDEN EAGLE EXPLRN LLC – OPERATOR – 318210 - UTU084382X – CR – AUTHORIZED

 

[shanty]

toc bat,
not to my knowledge, hence my reason for considering a deviation from Mr Buffett's bible of "make a plan and stick to it".
These nice people at GDN could drive anyone to drink.Or a change of plan.

What a way to go, after all, it's only money!LOL

Maybe today's the day for big ann???

 

[shanty]

Share madder,
many thanks for your efforts, truly greatly appreciated.
I wonder if there is a connection between the delay in announcing a 'date of record' and the permit approval?
If there was approval, the rig could be moved, a date given for spudding etc and the share sell off should be drastically reduced?N'est pas?

 

[sharemadder]

Hi,

Just on the first two serial number I quoted a couple posts ago (082648 and 083377) they are for road and water access (rental as well) issued by the BLM for Paradox #1 because GDN had to cross BLM land to get to the Utah State land.

The third serial number UTU084382X unsure of yet.

The uploaded pdf file shows the Utah State land as light blue and basically the rest is under BLM control. The area which is shaded yellow is the Golden Eagle Exploration lease (marked UTU084382X).

 

[toc_bat]

toc bat,
not to my knowledge, hence my reason for considering a deviation from Mr Buffett's bible of "make a plan and stick to it".
These nice people at GDN could drive anyone to drink.Or a change of plan.

What a way to go, after all, it's only money!LOL

Maybe today's the day for big ann???

Hi shanty,

well his is what i found, from the ann on 5 June 2007: "It is intended that the record date for shareholder entitlements will be 10 July
2007."

and in the latest ann to mention the IPO and record date this, from teh 25 July 2007: "A timetable for the release of the prospectus (including shareholders’ entitlement record date) is
expected to be finalised this week"

So as far as i can see the record date has not been established,

also shanty how did you come to this figure of $2 per U share after IPO - 'Value of 'U' share after IPO say two dollars.'

The prospectus is not out yet is it? So even the inital price of price of 35c a share for the IPO, I am wondering is that a guess or has it been stated somewhere?

bye

 

[DAZT49]

the entitlement date cant be released until the prospectus is released.
The 10th July date was amended to around the 24th july.
Then in the ann of 27th July..
"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."
Since then....nuthin.

 

[DAZT49]

sharemadder,
Nice little teaser you dropped over at HC last night.
Reckon the price could pull back a bit today with some profit taking.
Thats ok by me as the SP was getting a bit hot IMO.
Start back up next week...on good news??
The DOW held up not too badly last night.
Toc,
I have seen $3 mentioned for float of u spinoff.
daz

 

[sharemadder]

Hi Datz49

Yeah couldn't help myself . I did email JH about the oil though but no reply yet. I thinking we may get a ann today. Cheers.

 

[toc_bat]

sharemadder,
Nice little teaser you dropped over at HC last night.
Reckon the price could pull back a bit today with some profit taking.
Thats ok by me as the SP was getting a bit hot IMO.
Start back up next week...on good news??
The DOW held up not too badly last night.
Toc,
I have seen $3 mentioned for float of u spinoff.
daz

Dazt, yeh but a price of $2 or $3, are these figures just mayde up on the fly by posters to forums or has some analysis been done? are they HC figures??? , hehe LOL

 

[DAZT49]

Toc,
Can't remember which thread it came from.
This is dragging on isnt it?
Maddy,
not holding my breath (again) for an ann today.

 

[sharemadder]

Datz49

Have you contacted your sources again to try and get some sort of update (Lock Stock and Two Smokin Barrels)? I would luv to be a fly on the wall with what they think about last 4 days trading activity.

Cheers

 

[DAZT49]

sm,
Will wait to see if there is an ann today and then try my man in Havana.
He was a bit miffed when I mentioned his info was going on these threads, so i am a bit hesitant to call.