GDN 0.00% 1.7¢ golden state resources limited

perhaps news daily from here on in..., page-6

  1. 15,276 Posts.
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    I think a few may be missing the significance of the detail in the announcment...

    Unless I am misinterpreting here, they are still encountering commercial gas in the Alkali Gulch, some 408ft below the "major pressured gas interval"...

    From the announcement..."Background gas has incresed 40-fold to consistent levels of 500-900 units."
    From what I understand, such reading relate to the current drill bit horizon...not from further up the hole.

    Given neighboring wells are producing as low as 350 units, it looks to me like they are currently in "considtently" commercial gas zones.

    If so, significant pay over significant closure may start to approach some of the pre-drill accumulation predictions.

    I know I will be holding overnight...if not for further announcements, then for the reaction from the market heavyweights once they actually gain the same understanding we already have of the potentiall here.

    Cheers!
 
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