oil gas weekly comments

Here's just a small sample of ogw comments on GDN - a very thorough analysis was done last week by John Campbell.

Golden State Resources options expire at the end of June. The exercise price is 20 cents. With Paradox Basin #2 intersecting the first of no fewer that 8 gas targets this weekend we anticipate the action will hot up
considerably next week.
That provides of course that the first target, the Upper Ismay formation, has at least gas or condensate shows.
If Monday’s progress drilling report is positive we are looking for the head shares to move towards 20 cents and pull the options from Friday’s close to a
potential high next week of 4 to 5 cents. And that may be only the beginning given the large number of follow up targets. (See our coverage of Golden
State in OGW of 29 March 2009) But as we say it all hinges on the first target being gassy. So pretty high risk
but the rewards offered by the leverage of the options could be quite significant.