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 well in Utah
Wednesday, March 17, 2010
Golden State Resources (ASX: GDN) is currently preparing to drill-ahead into the primary target zones in the Upper Ismay and Desert Creek Formations at its Paradox Basin # 3 well in the Golden Eagle Gas Field in Utah.
Since the last report the company was required under Utah State law to conduct a compulsory service and test of the Blow Out Preventer.
The hole has been reamed and conditioned and is in good condition. The well is at 9,897’ in the Paradox Formation preparing to drill ahead.
The Paradox Formation was encountered at 9,545’ feet which is 396’ higher than the pre-drill prediction.
The new bit is expected to reach the planned total depth. The well is on target to intersect the Ismay Formation in a crestal location appreciably higher than the Paradox Basin #1 at approximately 10,420’.
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