Golden State Resources Limited has run 13⅜” casing to 3,806’. The well is currently circulating through the stage tool waiting for the stage 1 cement to set, prior to cementing the upper stage. The well is expected to drill out of casing once the second stage cement has set. Operations on the Paradox Basin #2 well are proceeding ahead of schedule. Unit Rig 234 drilled to the surface casing point at 3,806’ in approximately 7 days and has run the 13 ⅜” casing and set the first stage of two stages of cement. The second stage cement is expected to be completed today before continuing to air hammer drill in 12 ½“ hole to approximately 6,000’ before switching to a conventional mud system and rotary drilling.
Current operations are eight days ahead of schedule and are 16 days ahead of the equivalent operations in the Paradox Basin #1 discovery well. Rig 234 has performed reliably through‐out operations with minor lost time due to a minor electrical problem. Minor time losses have also been attributed to reliability of the air hammer.
GDN Price at posting:
6.0¢ Sentiment: Buy Disclosure: Held