Bomber27. I hold none, I watched GDN go up and down, it was one of the best ramped stocks around at the time. GDN was better than TV most nights, what was good to read what down rampers would say, then wait for the team to try and take them apart. Just now we have many Australian teams in the USA trying to find what the Americans could not find in their own back yard. GDN biggest trouble was that they new nothing about the oil game, that in its self was a recipe for disaster.
GDN - Golden State Resources
- Thread starter chris1983
- Start date
what the chances that someone is buying as many shares as possible up to the 15.5 threshold then letting it fall, then repeating it.
what are the calculated figures which can be made from the 15.5 to have it as a upper limit threshold of purchase?
could someone be using this as a profit taking op.?
what are the calculated figures which can be made from the 15.5 to have it as a upper limit threshold of purchase?
could someone be using this as a profit taking op.?
- Joined
- 14 April 2007
- Posts
- 158
- Reactions
- 0
Does anyone have any news on parra 1. Is it online yet?
Are we still waiting on approval for parra 2? I wonder whats taking these guys so long?
Havnt had any updates for ages. Great way to run a company
DYOR
I get this scary feeling that GDN is being abandoned for its more profitable offspring. Surely by now the environmental concerns have been addressed if they are able to be. Cant help feeling certain brokers ramped this up last yr and now it has returned to where it should be. I bet those who participated in the capital raising are wondering what their money has gone into.
bigdog
Retired many years ago
- Joined
- 19 July 2006
- Posts
- 8,176
- Reactions
- 5,587
Was there every any news on recovery of costs from the drilling screw up?
ASX ANN today
Progress Report:
Paradox Basin #2 Oil & Gas Well, Grand County, Utah
http://www.asx.com.au/asx/statistics/showAnnouncementPDF.do?idsID=00877105
The Paradox Basin #2 well will be drilled on a site one mile (1.6 km) from the previous successful Paradox Basin #1. The new well will test a similar section to that in Paradox Basin #1 in a shallower, more structurally advantageous position. Multiple targets will be tested over a 5,000 foot (1,500 m) thick section, from the Upper Ismay zone of the Pennsylvanian Paradox Formation, through to the Mississippian Leadville Formation.
Well Permit
Golden State Resources is pleased to announce the US Bureau of Land Management (BLM) has concluded the public comment process for the proposed Paradox Basin #2 well, Grand County Utah. One detailed submission was received from the public.
Prior to progressing the grant of the permit, the BLM has elected to seek comment from local Native American tribes under the consultation requirements of the National Historic Preservation Act. This consultation is normal at an early stage of the development of oil and gas projects. The BLM has informed the Company that the consultation process will take at least 30 days.
Well Funding
A funding facility to top up the Company’s reserves in preparation for drilling the new well is being arranged and will be finalized in the coming weeks. The funding facility is subject to shareholder approval.
Drilling Rig
The Company is proceeding with sourcing a suitable drilling rig for the well. An announcement will be made once a rig is contracted.
ASX ANN today
Progress Report:
Paradox Basin #2 Oil & Gas Well, Grand County, Utah
http://www.asx.com.au/asx/statistics/showAnnouncementPDF.do?idsID=00877105
The Paradox Basin #2 well will be drilled on a site one mile (1.6 km) from the previous successful Paradox Basin #1. The new well will test a similar section to that in Paradox Basin #1 in a shallower, more structurally advantageous position. Multiple targets will be tested over a 5,000 foot (1,500 m) thick section, from the Upper Ismay zone of the Pennsylvanian Paradox Formation, through to the Mississippian Leadville Formation.
Well Permit
Golden State Resources is pleased to announce the US Bureau of Land Management (BLM) has concluded the public comment process for the proposed Paradox Basin #2 well, Grand County Utah. One detailed submission was received from the public.
Prior to progressing the grant of the permit, the BLM has elected to seek comment from local Native American tribes under the consultation requirements of the National Historic Preservation Act. This consultation is normal at an early stage of the development of oil and gas projects. The BLM has informed the Company that the consultation process will take at least 30 days.
Well Funding
A funding facility to top up the Company’s reserves in preparation for drilling the new well is being arranged and will be finalized in the coming weeks. The funding facility is subject to shareholder approval.
Drilling Rig
The Company is proceeding with sourcing a suitable drilling rig for the well. An announcement will be made once a rig is contracted.
Bigdog, GDN won't get one red cent from Weathford, once a tool has gone past the R Table you have paid for it, you won't find any one that has sued, and won a down hole case. I note we still DON'T have a permit yet. I find it strange that you get more info from a poster on HC than you get from GDN, I wonder why that is???
- Joined
- 16 October 2008
- Posts
- 2
- Reactions
- 0
Doe's anyone have any idea on how long the native american tribes process will take and is there a link to see its progress? I will try to get in touch with RC maybe i can get further info. There's gas down ther they just need to drill.
Wysiwyg
Everyone wants money
- Joined
- 8 August 2006
- Posts
- 8,428
- Reactions
- 284
No.Not right now.
What do you see in GDN? Do you know their recent history?Sitting on a trillion cfg. are they????????
- Joined
- 16 October 2008
- Posts
- 2
- Reactions
- 0
They have already drilled 1 well and unfortunately they stuffed it up.I cannot quantify the amount but its certainly worth more than 5 cents a share.
- Joined
- 23 September 2008
- Posts
- 531
- Reactions
- 0
Decided to accumulate some GDN over the few weeks around the mid 5c range. Hoping that a little (even 10%) of the same frenzy that surrounded Paradox 1 will surround Paradox 2 once drilling if finalised and spuds. Good thing with this mob...even a fart is released to the market as a significant gas show so announcements can get things moving!
Bring on the spudding announcement
Bring on the spudding announcement
- Joined
- 23 September 2008
- Posts
- 531
- Reactions
- 0
Noticed that Oiler's Weekly have commented about GDN, Paradox 2 and possible BESBS action coming up. Looks like GDN is building slowly. Glad I bought in while mid-5c but this GDN will need an announcement about spud dates soon to keep any momentum.
- Joined
- 23 September 2008
- Posts
- 531
- Reactions
- 0
Liked the announcement that Paradox 1 will get a workover and Paradox 2 to drill. SP eased with action unlikely until early 2009 but is again hovering around the 6c mark. Happy to wait for this baby ...Holding...DYOR
...Holding...DYOR- Joined
- 23 September 2008
- Posts
- 531
- Reactions
- 0
Announcement out yesterday:
PARADOX BASIN #1 – Development rig mobilised
Work-over operations on the Paradox Basin #1 gas discovery well have commenced. A workover rig is currently onsite. A pressure survey has been run and flow testing on the presently perforated intervals in the Ismay Formation will commence shortly. The tests are required to be witnessed by the Bureau of Land Management.
The Ismay Formation was previously tested at rates of 0.501 MMscf/d from three perforated
intervals. The intervals were 9727’ to 9732’, 9740’ to 9760’ and 9850’ to 9860’.
After the initial flows test are completed the well will be reperforated with high density deep
penetrating charges over the zones 9747’ to 9770’, 9783’ to 9800’, 9810’ to 9818’, 9830’ to
9842’ and 9850’ to 9860’ before retesting.
Initial development work on the Paradox Basin #1 confirmed the well is a potential commercial gas production well.
The additional programme will test previously indicated pay zones and perforate additional
potential reservoir zones interpreted from reassessment of geophysical and geological data
for the well. The work is part of the data aquisition necessary to assess the well for production.
Future work on Paradox Basin #1 could include a large fracture stimulation as well as reentering deeper gas bearing zones.
PARADOX BASIN #2 – Deep rig available
Paradox Basin #2 was spudded last week with the emplacement of conductor casing on the location. A top-drive drilling rig is available to commence drilling operations on the well.
Golden State Resources will issue further updates on the Paradox Basin #2 well when a
contract is signed.
Paradox Basin #2 is located 1.6 km (1 mile) south of the Paradox Basin #1 discovery well.
January 2009 might be interesting... Holding GDN.
PARADOX BASIN #1 – Development rig mobilised
Work-over operations on the Paradox Basin #1 gas discovery well have commenced. A workover rig is currently onsite. A pressure survey has been run and flow testing on the presently perforated intervals in the Ismay Formation will commence shortly. The tests are required to be witnessed by the Bureau of Land Management.
The Ismay Formation was previously tested at rates of 0.501 MMscf/d from three perforated
intervals. The intervals were 9727’ to 9732’, 9740’ to 9760’ and 9850’ to 9860’.
After the initial flows test are completed the well will be reperforated with high density deep
penetrating charges over the zones 9747’ to 9770’, 9783’ to 9800’, 9810’ to 9818’, 9830’ to
9842’ and 9850’ to 9860’ before retesting.
Initial development work on the Paradox Basin #1 confirmed the well is a potential commercial gas production well.
The additional programme will test previously indicated pay zones and perforate additional
potential reservoir zones interpreted from reassessment of geophysical and geological data
for the well. The work is part of the data aquisition necessary to assess the well for production.
Future work on Paradox Basin #1 could include a large fracture stimulation as well as reentering deeper gas bearing zones.
PARADOX BASIN #2 – Deep rig available
Paradox Basin #2 was spudded last week with the emplacement of conductor casing on the location. A top-drive drilling rig is available to commence drilling operations on the well.
Golden State Resources will issue further updates on the Paradox Basin #2 well when a
contract is signed.
Paradox Basin #2 is located 1.6 km (1 mile) south of the Paradox Basin #1 discovery well.
January 2009 might be interesting...
Holding GDN.Announcement out yesterday:
PARADOX BASIN #1 – Development rig mobilised
Work-over operations on the Paradox Basin #1 gas discovery well have commenced. A workover rig is currently onsite. A pressure survey has been run and flow testing on the presently perforated intervals in the Ismay Formation will commence shortly. The tests are required to be witnessed by the Bureau of Land Management.
The Ismay Formation was previously tested at rates of 0.501 MMscf/d from three perforated
intervals. The intervals were 9727’ to 9732’, 9740’ to 9760’ and 9850’ to 9860’.
After the initial flows test are completed the well will be reperforated with high density deep
penetrating charges over the zones 9747’ to 9770’, 9783’ to 9800’, 9810’ to 9818’, 9830’ to
9842’ and 9850’ to 9860’ before retesting.
Initial development work on the Paradox Basin #1 confirmed the well is a potential commercial gas production well.
The additional programme will test previously indicated pay zones and perforate additional
potential reservoir zones interpreted from reassessment of geophysical and geological data
for the well. The work is part of the data aquisition necessary to assess the well for production.
Future work on Paradox Basin #1 could include a large fracture stimulation as well as reentering deeper gas bearing zones.
PARADOX BASIN #2 – Deep rig available
Paradox Basin #2 was spudded last week with the emplacement of conductor casing on the location. A top-drive drilling rig is available to commence drilling operations on the well.
Golden State Resources will issue further updates on the Paradox Basin #2 well when a
contract is signed.
Paradox Basin #2 is located 1.6 km (1 mile) south of the Paradox Basin #1 discovery well.
January 2009 might be interesting...
Interesting BESBS.. You don't mind these companys hoovering around the 4-6cents mark..... hehehehe
- Joined
- 23 September 2008
- Posts
- 531
- Reactions
- 0
Hi Pilots.
I'm sure that is what GDN management will do...promote any results from Paradox 1 as a build up for No.2. As I said in an earlier post and I quote
"Good thing with this mob...even a fart is released to the market as a significant gas show so announcements can get things moving!"
True to form, GDN SP up to 7c...I'm almost 30% now on ave. 5.3c buys. This one will fluctuate but continual good press releases will get some attention, regardless of how flimsy they might actually be. Happy to let this ride for a while.
I'm sure that is what GDN management will do...promote any results from Paradox 1 as a build up for No.2. As I said in an earlier post and I quote
"Good thing with this mob...even a fart is released to the market as a significant gas show so announcements can get things moving!"
True to form, GDN SP up to 7c...I'm almost 30% now on ave. 5.3c buys. This one will fluctuate but continual good press releases will get some attention, regardless of how flimsy they might actually be. Happy to let this ride for a while.
- Joined
- 23 September 2008
- Posts
- 531
- Reactions
- 0
Interesting BESBS.. You don't mind these companys hoovering around the 4-6cents mark..... hehehehe
In this market Muzzza, I find it best to be patient and keep to simple rules for BESBS/sell during drill plays:
1. Buy small cap with SP within 10% of annual low (preferably near record low).
2. Must have drilling action coming up in the next few months.
3. Must have past record of investor interest in bigger projects
4. Prefer cash at hand (why I like LKO at present).
5. If funding is unclear, is the potential there for irrational buyers to run the SP regardless.
IMHO, and with no guarantees, I think LKO and GDN fit for me.
All the best with your investments,
Cheers,
BESBS Player
Thanks for your time and insite BESBS. I really appreciate it. Its nice to be able to get some information from someone who knows something about the product.. Ill keep an eye on this one.. Best of luck with your investments too.
- Joined
- 23 September 2008
- Posts
- 531
- Reactions
- 0
A nice finish to the week. GDN bounced up to 8c before settling at 7.4c (up from 7c at yesterday's close). Next week should continue to be interesting on the GDN roller-coaster. Hanging on
