GDN 0.00% 1.7¢ golden state resources limited

keep the analysis going T4P.My sense is that this is a Greater...

  1. 57 Posts.
    keep the analysis going T4P.

    My sense is that this is a Greater Aneth type discovery and that Leadville/McCracken were added in later as a potential bonus.

    The prospectus focus attempted a two way hedge - by talking about same structure component and size as Lisbon but described a "large Pennyslvanian salt induced structure overlying the early fault trap that contain a thick prospective Pennsylvannian section similar to that encountered in the gian Aneth field".

    This was good for raising money and getting interest - two for one focus even though the history shows this is not the case to date.

    Directors have got what they wanted. Now they are testing for more.

    Directors have unfortunately kept the "game open" to keep the monies in and keep this well alive after a near disaster.

    They have yet to put out a proper assessment in relation to what has been discovered which has allowed spec to focus on what has not been discovered whilst privately and secretly briefing a party for money at a low price entry point. This market is very strongly uninformed by Directors in relation to what they have learnt to date as opposed to what they hoped.

    Clearly, we have an Aneth style result so far but back to front. Aneth was lots of oil and a reasonable amound of gas. So far GDN has lots of gas without the liquids it appears.

    So where are the liquids?

    They want to know whether they have a double jackpot and broken the mould totally with a Lisbon style result as well.

    Lisbon's McCracken/Leadville are nowhere as strong on oil as Aneth and instead in Lisbon parlance are rich in gas with some oil-condensate.



 
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