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Additional Information
Market: ASX
Sector: Oil and Gas Exploration and Production
Epic: GDN
News: Latest news
Web Site: Golden State Resources
Other Articles: 08-03-201004-03-201002-03-2010

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Saturday March 13, 08:47Premium risk at Prudential

Insurance giant Prudential has stolen the headlines this week, after their decision to buy AIA, the Asian life business of US insurer AIG, has attracted a mixed response from shareholders.

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Friday March 12, 07:58Lithium and rare earths markets poised for growth

Right now, the world relies almost completely on China for its rare-earth supply. The Chinese have made it clear that they want to keep more supply for themselves as they try to be the world leader in green technology

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Friday March 12, 07:51White Energy enters coal deal with China Guodian Group

White Energy Company (ASX: WEC; OTCQX: WECFY) has inked a non-binding heads of agreement with state owned Guodian Inner Mongolian Energy Sources Co Limited to develop a coal upgrading [...]

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Golden State Resources

Golden State Resources

Golden State Resources Limited (GDN) is an ASX-listed public company with headquarters in Perth, Western Australia. Floated in 1996, the Company is primarily focused on oil and natural gas exploration in the USA and gold projects in the Eastern Goldfields region of Western Australia.

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Friday, January 29, 2010

Golden State Resources gets busy with Paradox Basin #3

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Utah-focussed oil and gas explorer Golden State Resources (ASX: GDN) had a busy quarter, as it applied for and was awarded the drilling Permit for Paradox Basin #3, in Grand County Utah.

GDN ticked off the following work during the quarter and in the new year: 

- Site works commenced 21 December and were completed by the middle of January
- Rig mobilisation commenced on the 18th of January. Drilling commenced on 27 January 2010
- RPS Energy completed an independent review of the Golden Eagle Gas field during November

Permitting, well design and site works for Paradox Basin #3 were completed during the quarter. F.J. Brown and associates completed well design and an application was lodged with the Department of Natural Resources of the State of Utah. The Permit was awarded on December 21. Site works were completed by mid January in readiness for rig mobilisation on January 18.

Paradox Basin #3 is a deviated Ismay Formation production well.

Paradox Basin #3 will specifically target gas production from the Ismay Formation in the Golden Eagle Gas field.

Paradox Basin #3 is being directionally drilled to intersect the Ismay Formation to the north northeast of Paradox Basin #1.

Paradox Basin #3 will spud from the existing Paradox Basin #1 pad, which has been re surveyed and has been upgraded.

RPS Energy has completed an independent evaluation of the Golden Eagle gas field following the drilling and testing of the Paradox Basin #2 well.

Discovered gas-initially-in-place (GIIP) for the Ismay Formation has increased to 9.0 Billion standard cubic feet (Bscf) at the P90 (Low Estimate) following successful recovery of gas on test from the Ismay Formation in Paradox Basin #2. The gas was recovered along the southern flank of the structure 288’ feet down dip of the equivalent Ismay Formation gas production in Paradox Basin #1.

During the previous quarter Paradox Basin #2 demonstrated gas flows from the Ismay Formation at up to 1.6 million cubic feet per day. Paradox Basin # 2 is currently suspended. Golden State Resources has been reviewing Paradox Basin #2 and two options are being considered. The first is to potentially deepen the well and test the Mississippian Leadville Formation. The second is to side track and recomplete the Ismay Formation in a short radius lateral similar to that proposed in Paradox Basin #1.

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