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GDN - Golden State Resources

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Hi NT

Looking good now. BLM sign off soon and away we go.

Punters will be back in probably tomorrow.

I think a lot of people dont understand how much $ Delta is committing to the Paradox / Salt Valley exploration over next couple of years. The budget is huge. Hopefully GDN leases will give up the same sort of potential.

Cheers
 
hi sharemadder,

Have you seen the deal delta did at the end of december but waiting for shareholder approval. A company named tracinda is buying 35% of the company for 684 million dollars they offered to pay 19 dollars a share and at the time it was around 15-16 dollars at market prices.

The deal is to help develop and accelerate the paradox basin projects, i think most of the funds are meant to be towards the paradox basin.

It doesnt mean that our area will be as good as the greentown project but since its near by any news like that i thought is worth looking at. Just shows there are lots of people interested in the paradox basin recently.
 
Interesting how volume and the share price increase before an announcement is released to the market in the afternoon.

Surely there must have been a leak. Is this the definition insider trading? What action will be taken if any?

I hold a large parcel bought at .20 cents so hopefully the share price will start to rise. Hope the management will be more transparent in the future to. I won’t be holding my breath though.

DYOR
 
hi, the shares he bought today is what he purchased on market today, he bought them for his auctor group holdings.

GDN have results with the project in western australia due soon, they never seem to release news on that project except in quarterlies. Were we told they would be drilling this quarter 36 holes?

The project is only in early stages but shouldnt they be keeping shareholders informed on any news that has to do with the company?
 
i'd like to get excited but just bear in mind that they are most likely extending the IPO because they are absolutely struggling for investors especially with the way GDN is managed. Lets not gloss over the recent hammerings the stockmarkets been taking too.

secondly NEAROLOGY the classic term for uranium/iron ore/oil&gas tenements staked by lesser companies.

someone once said on this forum that the directors are just glorified real estate merchants....

i hold shares +18months ago. never sold (and very jaded). lets just wait for the 2nd drill results but i wouldnt let NEAROLOGY or this extra cash from a lame IPO pump anyone up.
 
This is like playing Snakes and Ladders... without Ladders to be found!



Without being totally negative - I'm sick of GDN gropping for loot with their IPO extensions and withholding ANY info about what THEY are doing!!?

Especially having investments in other companies making announcements on a daily basis and having no real need to.

All I can say is "What The!?"





 
Sorry - forgot to add for newtrader_1984.

The 36 holes are reported in the Quarterly Activities released 31/1/08 under RC drilling, page 2.
 
19/02/2008 White Canyon Uranium IPO achieves minimum subscription

So it seems that their are still fools out there willing to throw money at these guys who in my opinion couldnt organise a piss up in a brewery.

I still hold in this stock purely because im not prepared to accept the loss that I would take just as easy to let it sit and either watch it dissapear up its own proverbial or go ahead enough to make it worthwhile to sell out even if its at a 10% loss.

I did have hope of a recovery as I was encouraged to buy this on the advise of a well known broker who as been mentioned in this forum previously this was in my early days of trading when I trusted so called experts.

SEMPER UBI SUB UBI
 
Are we going to get an announcement regarding the second well, when is that suppose to start? Does any one knows how long it suppose to take?
 
Gag, Delta hitting the Paradox Basin hard with that recently raised $650 million raised. Plenty of drilling to come. Hope GDN can find a rig in this bonanza drilling time.



Sample of Drill locations around GDN (includes Delta, Running Foxes and Fidelity) Search of the DOGM Utah database see Delta and Running Foxes especially have several active well APD's.

 

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In the last qtrly report regarding paradox basin #2 they advised that drilling will commence in March, but I admit they didnt say which year but not a sound from them surely all government inspections/approvals should be completed by now. I've contacted them regarding an updated to recieve a recorded message " We are out of the office and will return your call" as of yet no return call maybe they all down super cheap buying up oil to pour down a dry hole :

Has anyone else heard or recieved any update on PB2 ?

SEMPER UB SUB UBI
 
they are probably on a world trip with all the money they scammed from wcu... i too have had no reply..... they would have to be the worst company listed on asx for letting there sharholders know what is happening.... but there is a little bit of movement with the directors buying more...... that is the only positive i can see at the moment!
 
I spoke to RS from GDN about 2 weeks ago and for what is worth he said that they should have BLM approval in the next few weeks and drilling wouldnt commence for approx. 2 months after that. He said it would take time to get things organised. That few weeks is about up but going on their past performance on wouldnt rely on anything they had to say!!

Cheers
 
This is quite possibly the second best ramped stock on ASF. No matter how low it went, the more holders supported it. A bit like ERN. A bit like FSN. Maybe also BCI, or AOE. Actually, anything that our old mate Chris has ramped the past year! DYOR. Best return has been AGM which is .... negative...!!! even with a takeover!!! LOL
 

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AS ANN today
http://www.asx.com.au/asx/statistics/showAnnouncementPDF.do?idsID=00831287
Paradox Basin 2 gas well location inspection completed

Paradox Basin #2 Gas Well Location Inspection

The Bureau of Land Management has completed its inspection of the location for the second well, Paradox Basin #2, at the Golden Eagle Prospect, in Grand County Utah.

Paradox Basin #2 is a step-out well one mile southwest from the successful wildcat shutin well Paradox Basin #1, completed in late 2007. The new well will test a similar Mississippian Pennsylvanian section up-dip from the section tested in the first well.

Golden State is proceeding with sourcing a drilling rig in preparation for the anticipated grant of the permit for this second well, which will test the size and extent of the gas field located by Paradox Basin #1.
 
Great ann. Now the ball is moving in the right direction. Anticipate possible capital raising too. Lets get this drill in the ground!
 
sharemadder said:
Great ann. Now the ball is moving in the right direction. Anticipate possible capital raising too. Lets get this drill in the ground!
Click to expand...


I agree. They will have to get the share price moving in the right direction to do a capital raising.

I think the last captial raising was at 7 cents so those people are breaking even at the moment.

I got a 20000 parcel at .20cents so im going to hold on till parra 2 is underway. Not worth selling out now.

DYOR
 
sharemadder said:
Great ann.
Click to expand...

Rob 17 said:
I agree.
Click to expand...

Why exactly?

Perhaps those in the know can explain how the Paradox Basin #1 was successful, and how this directly relates to GDN.

Cheers.
 
#1 was a relatively successful well:

It was exploratory so there are some related cost i.e. extensive logging, possibly cores, extended flow testing, slower drilling. The final published rates have the makings of an economical well for this part of the country (pipeline dependent). The company just needs to be smarter about how they drill it.

Whoever made the decision to mill the DP should be fired. They should have sidetracked and finished the well. The 3 months and related stock decline was not worth it.

They should also publish the frac jobs that they performed. It would be interesting to see what kind of investment they made there. My guess would be not much as far as size of job is concerned(GDN mo). For tight wells in that area of the country a frac job size/quality is directly related to production.

Also I am disappointed in that it seems that they are not being aggressive enough in there exploration phase. Even in some of the best areas of the world companies come up with a dry-holes. You need to punch in several to see what you have and be able to asses. If GDN believes that what they have is a good prospect and they don't have the capital to move forward properly they need to find an investor.


Conclusion:
Drill more see if the lower (initial prospect) targets are hydrocarbon containing.

If not then drill to 2700m and produce intelligently from the zones that you have already proven. Also you can't just have one rig out there drilling in a low rate field. You need to have several.
 
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