GDN - Golden State Resources

[DAZT49]

Could be a good morning session.
IAP now 26c. One order for 500k upped the bid from 25c to 26.5c, obviously doesn't want to miss out.

 

[sharemadder]

Sellers still very strong holding it down although its green. If no ann till next week will struggle to stay up unless news is +ve and the regular insiders buy their fill towards end of week.

 

[kelvin8r]

Hey sm, datz, toc and the rest,

Just thought I'd let u guys know im really enjoying yours posts and updates! I decided to buy myself a small amount of GDN shares to hold onto so very interested to see whats going to happen.

Keep up the good work.

2 X up

 

[DAZT49]

westinghouse,
Welcome to the club.
I reckon your timing could be perfect.
1. Ann soon on Para 1 flows= small 'c' comercial.
2. Oil column to be assessed ? barrels/day.
3. Para 2 to commence in Oct?, and said to be more directly targeted.
(Para 1 was a wildcat well placed to test as many zones as possible,hence so deep, didnt get the result we all hoped for but signs for Para 2 are good and could be wizzbang)
4. $9 mill in the bank, enough for Para 2 and pipeline?
5. Legal action set to recover $12 mill (a couple of more wells)
6. 40 wells planned.
7. U spinoff prospectus due with upgraded forecasts of grades and size of reserve.
8. 1 for 4 entitlement @ 35c/share for GDN holders at cutoff date, this has a nice potential profit on float of U company.
9. GDN will have 30% of u company, income for more wells/exploration.
10. Iron ore prospects.
11. Gold prospects.
Bloody hell I am getting MYSELF excited lol
cheers
daz
PS K8or there will be counter arguments posted by others and that is good.

 

[sharemadder]

Datz49 we have lift off again. Fierce sudden buying on no ann again. Seems to have cemented bottom of 22.5c.

 

[Bushrat]

Dazt49......has the 35cps for the uranium spinoff been confirmed?? if so where? what will the price be for other punters? has an entitlement date been advised yet?

 

[DAZT49]

bushrat,
I was given the 35c figure by C.K.Lockes when the spinoff was first announced to the market.
It will all come out with the entilement date details u spinoff prospectus.When ???
What the float price will be is anybodys guess but they are upbeat about the grades and reserves of uranium, so hopefully,even tho spot price for u is down a lot, people will bee keen to jump on and force the SP up.
GDN 27.5c atm..yeah baby yeah

 

[sharemadder]

Datz49

This buying IMO is real organized and well disciplined. They bought it up heavy from the teens and then allowed it to drop and now back into it again. Are the hills in Utah glowing. They may be purchasing heavy for the U entitlement.

 

[kelvin8r]

A little bit of late domination. Very good to see, im sure you guys would be very happy with whats unfolding here. I reckon I could feel your smile from here daz lol

 

[juw177]

Datz49

This buying IMO is real organized and well disciplined. They bought it up heavy from the teens and then allowed it to drop and now back into it again. Are the hills in Utah glowing. They may be purchasing heavy for the U entitlement.

Yep, and those are the guys I have followed. I bought when they bought, sold when they sold and now I have bought again. This rally is on VERY low volume compared to the previous moves, which means the sellers are exhausted but it can also show low demand.

 

[sharemadder]

Yeah I think they allowed the sellers to be exhausted given it was a huge hop last week from 13c to 34c. I think they were buying them too otherwise we would of seen the bottom line drop to around 15c but it really went flat at around 22c.

 

[bigdog]

Great finish for the day up 8.5 cents

10 millions shares sold in the last hour

GDN $0.31 +$0.085 +37.78% on high of $0.31 and low of $0.225 20,032,660 shares $5,482,301 @ 04-Sep 16:10:52

 

[GOSAFAS]

Looks like the gas flow is positive from yesterday's trading. Back to $1.20 maybe? Wonder when the announcement is coming?

 

[sharemadder]

Most likely early next week which is the gos on the grapevine. Strong interest also is the rumor for the U JV spinoff coming soon. Many see the next well "Para#2" being better positioned to target Leadville deep formation for mother load of gas. Strong buying last 7 trading days without ann so expect someone or some company wants in big time. All IMO of course

 

[kelvin8r]

Morning Guys,

Just reading about the takeover that Russian company Norilsk Nickel has made for LionOre. Anyone got any thoughts on what this could mean for the JV LionOre has with GDN?

 

[sharemadder]

Another greatstart for GDN today. 10 million + volume and high 31c.

One huge buyer also today 10:34:37 am 1,743,073 shares $522,922 which knocked out 22 sitters at 30c. Wow that's confidence.

 

[juw177]

One huge buyer also today 10:34:37 am 1,743,073 shares $522,922 which knocked out 22 sitters at 30c. Wow that's confidence.

And there are equally huge sellers that knock out support lines. This stock is being traded like crazy. Take caution.

 

[kelvin8r]

Seem to be holding steady at 29c as soon as a seller comes on they're snapped up. Looking forward to see what the ann. brings hopefully early next week?

 

[sharemadder]

Big buyer rocked up again and taking large slabs SP rocketing up. Well done to those holding long on this one.

 

[bigdog]

SP GDN $0.27 -$0.03 -10.00% after high of $0.31 and low of $0.26 20,465,638 shares $5,888,352 @ 07-Sep 14:34:33

ASX ann
07/09/2007 Oil and Gas Update

Oil & Gas Update

• Paradox Basin #1 gas discovery well, Grand County, Utah, has finalised current completion activities. The well has been shut in pending analysis of results.
• A 72 hour flow test on three Upper Ismay gas intervals produced a gas flow of 340 Mcf/day.


PARADOX BASIN #1 OIL & GAS WELL, UTAH USA
The Directors of Golden State Resources are pleased to announce the completion of the current phase of workover operations on the Paradox Basin #1 Gas Well, Grand County, Utah.

At completion of a 72 hour test of intervals in the Upper Ismay section, gas flow stabilised at 340 Mcf/day (thousand cubic feet per day) with water produced at 2 bbl/hr (barrels per hour). The flow test followed successful fracing of three Upper Ismay gas intervals: 9850’–9860’, 9732’–9727’ and 9740’–9760’, totalling 35 feet.

Down hole gauges were set in the well prior to shut-in and will be retrieved in early September. Flow test and pressure build up data will contribute to an economic analysis of the well, in particular whether production is independent of, or conditional on the next well, Paradox Basin #2.

Preparation continues for the commencement of drilling on Paradox Basin #2, to be drilled on a site one mile (1.6 km) from the current well. A timetable for this second well will be announced once dates are firm.