GDN - Golden State Resources

[DAZT49]

sharemadder,
i did google the name and saw Wellborn at Univ of Utah/law.
B & T are obviously partners (now Meck and Tooley.?/)

 

[sharemadder]

B & T now Beer & Tarts

hmmmmmmm yummy

Think I will get me sum, no Tarts though, the war office would kill me

Any thing coming from your contacts on what the blazes is happening with the U prospectus etc???

More info regards the law firm

Welborn Sullivan Meck & Tooley is a proven leader in oil and gas law. The firm advises clients domestically and internationally on all legal matters related to oil and gas development. Our oil and gas practice covers all aspects of acquiring and developing oil and gas properties, including:

• Structuring and documenting transactions
• Title work and due diligence
• Federal and state oil and gas leasing Private and federal unitization matters
• Federal, state, Indian, and fee royalty valuation
• Colorado and Wyoming Oil and Gas Conservation Commission matters
• Land use and practice before local governmental agencies
• Litigation including dispute resolution involving preferential rights, farmout agreements, royalty payments, securities and shareholder litigation, geological data and prospects, environmental and land damage claims, seismic licenses, and title
• Appeal of federal and state agency decisions

We advise clients on natural gas issues, including contracting, gathering, transportation, marketing, and processing. We also practice before state and federal regulatory commissions.

We negotiate and draft:

• Asset or stock purchase and sale agreements
• Joint venture agreements
• Operating agreements
• Exploration agreements
• Seismic agreements
• Secondary and tertiary recovery agreements
• Services agreements

We often represent multinational corporations, and help to evaluate international exploration and production opportunities and assess environmental issues related to oil and gas operations.

Highlights:

• Assisted oil and gas companies in IPOs, mergers and acquisitions, and asset sales and dispositions involving approximagely $3 blllion over the last 2 years.
• Assisted Whiting Petroleum Corporation with the acquisition of properties from Celero Energy, LP for approximately $800 million.
• Advised management group in structuring oil and gas exploration and production companies operating in the U.S. and Canada and financing in excess of $70 million in the aggregate.
• Advised Carbon Energy Corporation in connection with merger into subsidiary of Evergreen Resources, Inc.
• Handled $16.5 million acquisition of oil, gas and CBM assets in Appalachia involving properties in 6 states.

 

[DAZT49]

After my last "insider info" about the news "midweek" i am a bit wary of my broker mate lol
In hindsight he did say to me last time (a couple of weeks ago)that it could be "some time yet" for the prospectus. Maybe I should have listened closer. At least that "some time yet" should have turned into "sometime soon"lol

 

[sharemadder]

Some interesting information about distances on Paradox #2

According to Google Earth Para #2 is about 1.22 km's from Para#1 in a SSW direction.

For the environmental argument about the Delicate Arches being too close to Para #2 they are about 11.54 km's away in SW direction.

Also Delta have three wells recently approved in Grand County to the NW of the Delicate Arches with the nearest being Greentown SALT VLY ST 25-12 which is 27.92km's away.

Both the Golden Eagle Exploration and Delta well applications are outside of the Arches National Park boundaries. See the attached file.

Cheers

 

[DAZT49]

SHAREMADDER,
nOT QUITE SURE OF YOUR POINT.
WAS THERE INFO IN AN ANN ABOUT HOLDUPS BECAUSE OF ENVIRINMENTAKL ISSUES?? I CANT REMEMBER.
IT DOESNT HAVE TO BE A NATIONAL PARK TO HAVE ENVIRONMENTAL ISSUES,
OR ISSUES WITH THE LOCAL INDIAN COUNCILS.

 

[DAZT49]

PARA 2 WAS SPECIFIED AS BEING 1 MILE AWAY FORM PARA 1
A MILE IS 1.8 KM NOT 1.22KM, THAT 580 METRES DIFFIRENCE, QUITE A WAY.
MADDY, WHEN YOU FOUND THE APPLICATION FOR PARA 2 DIDNT IT HAVE THE COORDINATES IN THE COLUMNS?
APART FROM INTERESTS SAKE I AM NOT SURE WHY WE ARE CONCERNED WITH THIS.

 

[sharemadder]

Datz49

Sue12 on HC made a bold statement and continues to do so that because of the Arches National Park being in direct line of sight the second permit would not be issued. This is not the case. I was told some time ago that environmental issues may of been the hold up with the permit. I dont think this is now the case but rather GDN didnt apply for the permit until recently (i.e. this month).

 

[sharemadder]

PARA 2 WAS SPECIFIED AS BEING 1 MILE AWAY FORM PARA 1
A MILE IS 1.8 KM NOT 1.22KM, THAT 580 METRES DIFFIRENCE, QUITE A WAY.

Datz49

I have used the exact coordinates and it is not 1 mile but 1.22 km's to the SSW of Para#1. It also only 220 meters odd from the nearest dirt road.

 

[DAZT49]

SHAREMADDER,
THE SP HAS HELD PRETTY WELL AT 24C-25C FOR QUITE A FEW DAYS, AND IMO MOSTLY BUYING NOT SELLING ,A SIGN TO ME THAT THINGS ARE OK AND ANTICIPATING SOME GOOD NEWS ....BUT WHEN LOL
I PUT S12 ON IGNORE MONTHS AGO.

 

[sharemadder]

Dat49 ok but do you know your CAPS are ON and YOU are SHOUTING at me

Sue12 I usually have on ignore but just lately had him off. I think I will put him back on.

Cheers

PS Have a good day

 

[DAZT49]

MADDY...I WANTED TO MAKE A POINT!!!!
No not really, in my work everything is in caps, I get the shouting comment a lot in my emails lol
SORRY...I mean ..sorry.
ps even if you are right you cannot win with s12

 

[new_trader1984]

Hi sharemadder,

Have you noticed all the delta petroleum wells besides the 2 wells that were abandoned and the one thats location was abandoned were all confidential wells?

Since the last update on paradox basin 1 on the 5th of August there has been 2 new permits submitted, 15 approved permits that havent started drilling and 6 different wells that are currently drilling.

They have had small flow rates too on some of their wells but seem to be willing to drill a lot of wells and they aernt that far from gdn's 2 wells.

The closest wells of delta petroleums were the salt valley wells which have 3 wells drilling and to be drilled near each other which is only about 14kms from gdn's wells.

The closest greentown wells is about 85kms away from paradox basin where they have about 16-18 wells all planned to be drilled or currently drilling using 2 drilling rigs.

Delta petroleum seem very interested in the paradox basin even with some problems they have had recently.

I also tried to find out about the wells lynden ventures is involved in but on their website they never mention the name of the operator they are working with for the wells in the paradox basin just that it is a second tier texas based oil and gas company, or the name of the wells they are drilling.

Why would both companies keep the information confidential if like others say on other forums that there isnt much in the paradox basin. Just a lot of wells being drilled and not willing to share much details to even shareholders of what is happening with the projects. Delta petroleum dont update their shareholders much from their website with reports just quarterly reports with the details of what is happening with the projects they are working on.

 

[sharemadder]

NT1984

IMO you hit the nail on the head.

Look a long time ago JH told me about Delta's discovery to the west of us.

He was hugely impressed and said a operator like that would not be planning to drill like mad and spend from memory a budget of around 48 million US $ unless they were confident there was a lot of gas there. He told me they had wells planned very close to GDN. This of course is now confirmed by just looking up the Utah oil and gas data search and also their latest announcements about exploration in the Paradox.

There main issue has been the casings have partially collapsed I think on two Delta wells as they were underrated for the salt intrusion formations, they must be p!ssed of with that now they have to restore the already proved producing wells.

Hence GDN he told me needed to finish the Para#1 well because even though Leadville was too deep the upper zones have produced gas and this means the area has greater exploration potential.

Lyden ventures like wise are on the ball too. From memory they have entered old wells and got them to flow and now plan to drill many more wells.

This is why I am confident that GDN have a gas field and have drilled on the lower and less preferred site for what ever reason God only knows.

Now GDN will get the second Permit IMO very soon. They have employed a very good law firm to address any issues called Welborn Sullivan and complete the permit. The issue that has been raised about the Arches National Park are crap and are old (from the Para# 1 application) and were addressed by the BLM and put to bed (Read the PDF file on Para #1 from the Utah oil and gas web site on Para#1 files link).

Why they have left it so late to apply for a Permit for Para #2 I don't know but the Para#2 well is only 1.22 km's away from Para #1 as per coordinates from Utah Oil and Gas web site and Google earth. So any right of way issues and water issues are really null and void. The nearest road is only 220 meters or so to Para #2.

once the Permit is approved for Para #2 then I believe the SP will climb.

Cheers

 

[sharemadder]

Attached is a XLS file with Delta's permits for Grand County. They do have quite a few which are worth a lot of $$$. Drilling APD like that must be something is good in the Paradox Basin.

Cheers

 

[new_trader1984]

Hi sharemadder,

Where do you find the comments for the well permits the well data search website i been using doesnt have a comments section.

Thanks.

 

[sharemadder]

NT1984

Go here http://ogm.utah.gov/oilgas/DOWNLOAD/downpage.htm

Download the Well Data, click run and it will self execute to your desktop. Then open data table with MS Access or another database program. Sort AtoZ the well name so you can find the Paradox Basin 1 and 2 wells. In the tables to the extreme right are the comment sections. The comment section for Paradox Basin #2 has changed but it is in code

Also the databases are updated daily so good to keep a eye on them.

 

[new_trader1984]

Thanks sharemadder,

Do you know what Bh 9/18 is for paradox basin 2?


Have you noticed on the presentation and in the article link i posted on hc about the utah hingeline. There was a comment made about the exploration in that area too. This is a comment made from the article.

The analyst noted that the latter category includes no value for the company's significant exploratory potential in the Columbia River Basin or Utah Hingeline plays.

There has only been one well in the utah hingeline which is currently drilling.

That is 3 areas in the paradox basin that seem to be recognised as having lots of exploration and development potential.

How much would each well cost to drill about 12000 feet i thought maybe 3 million dollars each but it would be more than that wouldnt it?

Thanks.

 

[sharemadder]

NT1984

IMO $3 million for each well is about right plus more to frac etc after drilled to TD 12000ft.

Not sure the comment Bh 9/18 means other than 9/18 is the date of entry. Every time they make a comment the date is put in. BH = ???

Cheers

 

[new_trader1984]

Hi some of the photos below are where some of the wells that are currently drilling or have been approved or new permits for drilling in grand county utah.

There is about 15-18 greentown wells in one area which can be seen in the photos where they are all bunched together, some of the other photos show them more spread out to show just how many wells that delta does have planned for that one project.

There are also many wells planned and currently drilling by tidewater which is to the right of the greentown project and just above the 3 salt valley wells by delta.

There is one well called joseph which is to the bottom left on one of the photos this is the first well drilled on the utah hingeline project which by an article by a brokerage firm suggests the area has lots of exploration potential.

There is a photo on the tidewater website but need to sign in to see the prospects which does show where the wells are for tidewater delta and paradox basin, which tidewater refers to both delta’s wells and gdn’s well near by when they talk about the many prospects they are working on in grand county.

Paradox basin 1 well is 10.38 miles or 16.71Km from the location of the black hat prospect well which is waiting to be drilled currently. They are looking at testing the honaker trail formation up to 10 000 feet where gdn had minor gas shows.

Another prospect tidewater has is the old sagers prospect which is near the black hat well and only 16.61km from paradox basin 1. A 16000 foot well will be needed to test the deeper potential of the old sagers prospect.

Tidewater also has plans to drill in the northern paradox basin where lynden ventures also has acreage and drilling prospects. The target is for a large amount of oil at a depth of 7600 feet.

Drilling by delta petroleum has validated the potential for gas and condensate in the deeper paradox formation between 12000-16000 feet in a fractured black shale prospect. This suggests that maybe this company might be planning on drilling several 12-16000 feet deep wells to test this prospect.

Tidewater has 150 000 acres in one prospect and 70 000 acres in another both in grand county utah.

Another prospect by tidewater is the Thompson canyon deep gas carbonate prospect. When they mention this prospect they show an image of the gdn paradox basin well #1 which is nearby to their prospect. A comment made on the website is “The seismic amplitude anomalies that are believed to be associated with carbonates and over-pressuring offer the potential for very large per-well reserves”.

On all these prospects that are mentioned they don’t say very much about the projects just enough to have some idea of why they are looking to drill in those areas. They also mention gdn and delta petroleum a few times when talking about the deeper than 7500 feet well projects. Looking at the google earth photos where some of the recently drilled or applied for permits are for tidewater shows a large number of wells are slightly above paradox basin wells and mostly in the middle of the greentown and salt valley prospects that delta petroleum are currently working on which by the locations of the number of wells they have a lot of interest in the projects. Since no smart company would be spending 3 million plus on each well when could easily run to 5 million or more each and have more than 20 wells planned in the area if they didn’t have good reason to be spending so much time and money on the projects.

Tidewater has 10 prospects in grand county utah, 5 are deeper than 7500 feet and the other 5 less than 7500 feet.

The first photo shows the greentown wells delta petroleum has planned and are currently drilling where they have 2 rigs in place. The picture shows 20 yellow markers and 4 that are dark these are all the wells in that area that are planned to be drilled by delta.

The second photo is a closer image to show where the paradox basin wells are to the greentown salt valley and tidewater wells are. To the top left you can see a group of markers in a dark shade which is where the large number of wells on the greentown prospect are. This photo just shows how many more wells are planned and most of the ones in this photo are by tidewater.

The 3rd photo just shows where the joseph well is which is a new exploration project on the utah hingeline compared to where the other prospects are further to the right.

The 4th photo is just a photo which can show the locations of the majority of wells for tidewater, delta petroleum and gdn’s wells to give an idea of just how many wells are being drilled between 2 companies.

 

[DAZT49]

nt,
You obviously have lots of time on your hands!!!!
Thanks for a very interesting post.
Cheers
daz