Golden State Resources
Full Golden State Resources profile here
Golden State Resources (ASX: 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.
Golden State Resources drilling on target at Paradox Basin # 3 in Utah
Monday, March 15, 2010
US focussed oil and gas company Golden State Resources (ASX: GDN) is progressing with its drilling operations at its Paradox Basin # 3 (PB#3) production well, the company's third well on the Golden Eagle Gas field in the highly productive Paradox Basin region of Utah.
Drilling of the PB#3 production well commenced on 27 January 2010 and operations are proceeding to plan.
The well reached the prospective Mississippian Paradox Basin sequence late on Sunday when the Paradox Formation was intersected at 9,545’ which is 396’ high to the pre-drill prediction and 35’ higher than the revised prediction based on the higher than expected Honaker Trail intersection.
Levels of background gas have increased and are now in the range of 20 to 50 units. Higher gas levels are present during connections and localised peaks up to 74 units have been measured.
The well is currently at 9,883’ and has a lateral reach extending approximately 3,400’ to the north of Paradox Basin #1 and is closing on subsurface targets in the Paradox Basin Sequence. The Ismay Formation is expected to be intersected at approximately 10,420’.
The company said the well is on target and appears to be going up the stratigraphic dip. The forward plan is to continue drilling into the Ismay Formation. It is expected that at least one more bit change will be required.
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