GDN 0.00% 1.7¢ golden state resources limited

further potential

  1. 5,437 Posts.
    From the graphic GDN provide with each announcement it seems pretty evident that the Golden Eagle-1 well has still penetrated most of the gas-bearing intervals off-crest. The upper intervals appear to all have further up-dip potential to NNE, while the Alkali Gulch and primary target Leadville each have up-dip potential to SSW. I'm picking there will be plenty of follow-up drilling before the full scope of this and the satellite structure (SW) is fully known, and it's looking like something close to a bonanza already. Carbonates, even sandy ones, in general are not very 'bendy' so in an anticlinal structure like this there should be no shortage of natural fracturing unless they have re-crystallised, but these gas shows suggest to me fracturing is present (v helpful to gas flow).
 
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