GDN 0.00% 1.7¢ golden state resources limited

gas announcement, page-5

  1. 30,924 Posts.
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    glow, I don't think you read the announcement.

    A 48hr test was already underway on 3rd July. Therefore it must have finished early sometime on the 5th at the latest. The crew would not take a holiday - in any case, for a flow test you only need a couple of staff, it is a waiting and recording game. BUR actually spudded a well in Texas on the 4th, rig crews never stop.

    There is no analysis required. If the flow has stabilised, at the end of the 48hrs you read the flow meter and the pressure gauge and include them in the report. That is all you have to do to report on the results of the flow test. It looks something like "At the end of the 48 hr test, gas was flowing at the rate of 2.18MMcf/day at a pressure of 4588psi. Flow rates had stabilised at that pressure after 30hrs. The implications of these results are being studied to assess the potential size of this field."

    Or they could say "Flow rates had not stabilised after the 48hrs so testing is continuing."

    Or they could say nothing, knowing that GDN shareholders are a game lot, who just love mystery and suspense going into a weekend. And if they don't, then they should be used to it by now!

    I heartily concur with your last comment!
 
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