GDN 0.00% 1.7¢ golden state resources limited

investigation, page-50

  1. 8,786 Posts.
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    Have spoken with the 2 directors;

    Nothing much material other than the following:

    next report this week but no details whats in it
    Still are considering plant and pipeline considerations and costings,
    Non commital re hook date due to evolving processes around its dvelopment
    Currently accessing best ongoing funding options including larger investors, open to JV subject to price wont be giving it away
    Currently working on an economic deliverability document with engineers pertaining to costs for ongoing wells, P3 plant and pipeline
    Overall doing everything they can working hard but its a slow process and changes all the time due to other stakeholders
    Leonora eventually to be spun off similar to white canyon deal
    Directors buy shares subject to their choice, sciano already has a large number of shares
    Will refrac in the new year, are having the frac carefully designed and they feel they have it fine tuned, the current deliverability study will play a part in the frac
    They are interested to reenter Leadville next year
    Presentations made to indivual brokers current and ongoing, no major road show to take place because it is happening now ongoing
    No reports on value of company assests forthcoming
    Working on presenting a last five year overview for the market which sounds positive
    The well was flowed longer than 72hrs, psi before and after not important as oppossed to build up info which is good, well was flowed tested on and off to build up its stability/clean up which was achieved,The psi before and after testing can be decieving due to what fluids can be in the tubing etc
    The Gas resource is clearly there and their focus is on unlocking the gas
    They expect gas prices to improve from here and this relates to how quickly the P3 comes online due to the economics
    confidentiality around tenders,finances and when deliverability study will be complete.

    my interpretation of discussions

 
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