GDN 0.00% 1.7¢ golden state resources limited

Ok - understood, however they have made public some of the test...

  1. 37 Posts.
    Ok - understood, however they have made public some of the test results along the way and even stated that there are commercial quantities - are you saying that what was annouced is either misleading or not enough to base their comments on. This is what I am trying to understand. In looking at the announcement made I trusted what they were saying was verifiably true. The current tests are just more detail about the find are they not - there should be not dispute over the commercialilty unless previous annoucment is untrue: see below from 27/4 announcement

    "Several of the gas zones encountered in Paradox Basin #2 are associated with better quality
    reservoirs than previously seen in the Paradox Basin #1 well on the Golden Eagle Field. Golden
    State Resources considers these better quality zones with gas shows may represent significant
    2
    commercial hydrocarbon zones. Paradox Basin #2 is located along a long acting basin hinge line
    and hence the lithology has tended to have higher levels of sandstone with good visible porosity.
    Paradox Basin #2 is currently in the Pennsylvanian Barker Creek Formation at 12,920’."


    and from 25 May

    In light of the excellent confirmed large gas resources discovered in
    the upper zones of the well, the Company has made a commercial
    decision to proceed directly to testing of five established gas pay
    zones for commercialisation rather than continuing drilling operations
    to deeper exploration targets.

 
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