GDN 0.00% 1.7¢ golden state resources limited

So we now know where they are up to.RPS are not cowboys. Their...

  1. 261 Posts.
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    So we now know where they are up to.

    RPS are not cowboys.

    Their reputation is built by doing the right thing and succeeding where perhaps others might fail.

    A round hole in the ground 7 odd inches in diameter and 12500 ft down does not suddenly produce gas to the max, without analysis, planning and consideration of PB1.

    There is gas in the hole, but which direction do you stimulate to get the most out of it?

    Well you definatley don't guess, speculate or assume.

    It would seem the best approach may be to interpret as much info as possible, use as many experts as possible,
    aggree on a plan, and then put it into operation.

    This takes time, and succees is directly proportional to making calculated informed decisions.

    PB1 could have been a major discovery and already producing gas IF it had been handled correctly.

    Now, PB2 which seems to be connected to PB1 is the opportunity to capitalise on both. ( extract from today's ann. "Gas bearing intervals in Paradox Basin #2 are likely to be the lateral extensions of
    the previously discovered gas in the Upper Ismay and Barker Creek formations. These
    zones produced gas on test in Paradox Basin #1. A newly discovered gas bearing zone in
    the Chimney Rock Formation will also be tested." )



    I think both wells are in safe hands,and rather than rushing and failing,then walking away, or saying it's too hard and walking away, RPS are saying difficult, but worth doing, let us consider and design what is needed, THEN bring in the required equipment based on design, implement the AGREED PLAN, and watch the best test results possible, based on what we KNOW!

    Today's announcement gets a thumbs up from me, knowing RPS are doing the right thing. Good luck to them.

    IMO DYOR
 
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