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GDN - Golden State Resources

Jump to new
side ways i agree, but is slowing heading south ... this is unnatural .. what i dont understand is with all the previous ann .. why its going down all of a sudden ...???
 
This trading halt is interesting.
It cant be because they have found more gas shows, as they have released anns before with no TH.
Could they have results from the logging so fast??
 
GDN ASX ANN for Trading Halt

29-04-2009 09:42 AM GDN Trading Halt
http://www.asx.com.au/asx/statistics/displayAnnouncement.do?display=pdf&idsId=00947760

The company is in the process of negotiating a placement of shares to raise funds for further drilling. Negotiations are not yet complete and the company requires time to finalize matters ...

December 31 2008 cash on hand $1,518,000
30-01-2009 05:14 PM GDN Quarterly Cashflow Report

Prior placements:
07-04-2009 04:01 PM GDN Placement $770.000
17-03-2009 03:34 PM GDN Placement $1.2 million
 
bigdog,
Damn..boring ann.
"speculation in the market"....speculation about GDN is a worse plague than the swine virus lol
cheers
Daz
 
Hi Dazt and BigDog

They do have those director oppies due to expire in May as well.

Speculating here and only opinion

But they may also convert them. There's more cash there as well.

The 1.2 million may get us to that line.

Also wasn't it about 9 million shares traded? Theres another $600K maybe coming from somewhere??? The ann. was only for 6 million shares sold off by GDN.

Anyway, GDN is ok now for cash.

Might get a update tomorrow or Friday on logging and casing progress.

Cheers
 
If they off loaded all the WCU shares we would not have to have any cap raising.
WCU has dubious prospects IMO
 
Hi Dazt

Maybe they will offload more of WCU, enough anyway to get enough cash to see GDN through to next oppie conversion towards end of May.

They should of done that when first drilling PB#2.

Wonder what other capital raising they are working on atm.

Cheers

Eager to see what the lower sections of this well show.
 
They still have that $7mill or portion thereof from the legal action from DHS to come into the kitty as well
 
I am wondering if GDN have to come up with $x as part of the "negotiation" preocedure with the other 'party" also chucking in $x
 
Thats possible Dazt.

So far GDN got 1.2 mill from sale of WCU shares.

Maybe Shumway family going to put some $ in.

Will be interesting to see what comes out later today or tomorrow morning.

PB#2 gas shows looking so much better than PB#1.
 


if you want to examine all the gas shows in all wells in grand county, not just 2 wells drilled by gdn, and look at shut in wells as well as producers, then i recommend this site sharemadder, at least you can get an objective view on whether other wells had gas shows just like the 2 paradox wells as they drilled through the various formations..

you need to be clear that each formation to be productive would need horizontal well completions, with multiple zones it may be seriously worth looking at economics of it all.

http://oilgas.ogm.utah.gov/Data_Center/LiveData_Search/scan_data_lookup.cfm

also further good references are

http://www1.eere.energy.gov/tribalenergy/guide/pdfs/southern_ute.pdf

http://geology.utah.gov/emp/pump/pdf/pumprpt8.pdf
 
Agentm

I have been following GDN since 2006.

I have done extensive research on all those web sites, they are very helpful.

I've also had quite a few conversations with BLM and Utah DOGM people as well plus GDN directors on the Paradox structure.

I have a large collection of data to make my decisions already.

You do not need horizontal drilling for every formation.

Thankyou anyway for the links.
Cheers
 
it seems we will get some results from the logging early next week, maybe that will move the SP.
"The Paradox Basin #2 well is at 12,956’ (3,949m) and logging operations currently underway on the Upper Pennsylvanian section are expected to be completed this week.
● Logging data from Paradox Basin #2 will be sent to RPS Energy for fast track evaluation with preliminary results available early next week.
Petrophysical evaluation will determine net pay and highlight potential production intervals."
 
Hopefully the 11 cents (raised capital price) will hold when the markets correct again.
The Leadville Limestone is a major target I think so on the brighter side of things there may be another twist in the tail.
 
DAZT49 said:
● Logging data from Paradox Basin #2 will be sent to RPS Energy for fast track evaluation with preliminary results available early next week.
Petrophysical evaluation will determine net pay and highlight potential production intervals."
Click to expand...

This information should bode well with the market and punters alike. It will be like gold. Priceless.

Next week going to be a great one to watch GDN PB#2 progress.
 

no problems for the links sharmadder, glad you appreciated it.

a few questions if you care to answer.

how many wells in grand county have produced far higher gas shows but were shut in and uneconomic?

which sections are producing from vertical wells in the paradox basin?


lastly, i also invest in the small cap oil explorers, ADI currently, they are involved in shale oil and gas. with the eagleford being the best shale in the usa to produce from due to its perfect gravity in oil and 80% of the gas being condensate oil in the return. 250 bo per 1mmcfpd. even with those staggering rates the field is just marginally economic due to the $50 oil, but gas alone would mean the eagleford is completely uneconomic.

the gas price in usa has made the plays GDN are chasing uneconomic. refer this article on the simmonds report for comparisons of economics and play types.

http://www.epmag.com/archives/newsComments/6242.htm

how do you see the future of the gas prices and what price production rates are envisaged and what gas targets are you anticipating for the economics to be the right way round? surely the paradox well would have to be a monster well to be economic?
 
Agentm

Nasty now because someone disagrees with u?

Your Q's go unanswered, Im just not interested in fighting.

GL to you.

GDN is doing me just fine.
 
sharemadder said:
Agentm

Nasty now because someone disagrees with u?

Your Q's go unanswered, Im just not interested in fighting.

GL to you.

GDN is doing me just fine.
Click to expand...

sharemadder, i dont know what your talking about? fighting? nasty??

i dont know what disagreement there is sharemadder?

i was asking genuine questions only sharemadder, i thought you may have done some calculations or have some research you could share on the region.
 
wysi,
"Hopefully the 11 cents (raised capital price) will hold when the markets correct again. "
That gap is hanging there, but with all the good news (and more to come)maybe it wont get filled.
Maddy,
maybe it was agentm that got me tossed off HC
I will find out one day and have my revenge.
 
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