„h Paradox Basin #2 is at 13,030¡¦ the bit was replaced for a PDC bit after drilling out the shoe. „h Progress has been slower than expected mainly due to the extra bit trip. „h It is expected that the well will test the Barker Creek Formation over the weekend. „h Remaining targets are the Barker Creek, Alkali Gulch, and Pinkerton Trail formations and Mississippian Leadville Limestone. „h Golden State Resources is currently liaising with various specialists to discuss the completion of the upper gas zones in Paradox Basin #2. Paradox Basin #2 is currently drilling at 13,030¡¦ in the Barker Creek Formation. A new PDC bit was used to drill out from 12,967¡¦ which required an additional trip. Due to the depth of the well trip times are approximately 24 hours. Paradox Basin #2 will test major objectives in the Barker Creek Formation, Alkali Gulch Formation, Pinkerton Formation and Leadville Limestone. The Lower Barker Creek Formation is one of the principle objectives of the well. In Paradox Basin #1 the Lower Barker Creek Formation displayed up to 2313 units of gas over an interval of 220¡¦. The Lower Barker Creek Formation is anticipated to be encountered within 300 feet of the current depth. The Alkali Gulch is immediately below the Barker Creek Formation.
GDN Price at posting:
20.5¢ Sentiment: Buy Disclosure: Held
