stx Strike Oil

[JBmurc]

hey jb,

i got into stx at 30 and been buying all the way down. finally got my head above water today!

glad to hear your thoughts on cfe. im starting to think if we get back near to 50, im going to dump some. still heaps of good buys at the mo, no money to buy them. im out of mpo. weighing up mpo vs bow. more reading to do.

I really like the look of MPO currently they have 10+ drill ongoing mainly in Canada watch the market re-rate if they hit a muti-mill oil discovery they already have good oil shows in most of the wells drilled testing an flows will be annoucement in the 2nd qtr good news here will spark the SP to new highs -their CSG discovery's an production in Aus is also a major plus IMHO

[mattyroo]

Yeah good news be even better if my stoploss wasn't triggered selling just under half my STX holding sub 25c......

Thanks JBM, I went against Phaedreus' advice and loaded up on STX during the recent downturn, so I probably got some of yours.

Very happy with todays little gain, and very much looking forward to the drilling of the next big well, which really could transform this company.

Now I wish the NDO shares I also bought during the recent sell off would also have a similar run.

[STRAT]

Check this out lol. :D
I have found the perfect Chart Provider :cool:

This is the free version of IC and it already shows todays close :eek::eek::eek::confused::confused::confused:

According to IC the last candle is for Friday 19th Feb 2010

So thats a heads up for a 31c close :D

[JBmurc]

SOUTHERN COOPER CSG PROJECT DELAYED BY FLOOD
The South Australia section of the Cooper Basin has now been isolated by road access following the cutting of the Moomba to Adelaide road (Strzelecki Track) by floodwaters in the Strzelecki Creek yesterday. This is likely to have a serious impact on all companies operating in the basin, including Strike Energy.
The Southern Cooper CSG corehole programme in PEL 96, which was scheduled to commence in early April, will now be delayed. As it may take several weeks for the full extent of the damage to be assessed and the road crossing to be repaired, a commencement date for Strike’s operations has not been determined but is likely to be at least two months away. At this stage, no drilling equipment has been mobilised.
Commenting on the delay of drilling, Strike Energy’s managing director, Simon Ashton, said:
“While the Company regrets the delay in the Cooper Basin, the USA exploration drilling and the testing of the previously announced Louise gas discovery, which are due to commence in April, demonstrates the strength of participating in multiple projects”.
Yours faithfully

[JBmurc]

EXTENSIVE DRILLING PROGRAM SET TO START ON GULF COAST, TEXAS
Highlights
• Two rigs contracted for a new three-well exploration program
• Drilling scheduled to commence within one week
• Combined prospectivity of three new wells is up to 350 Bcf
• US drilling program on track for up to ten wells in 2010, offering investors significant exposure to exploration in proven world-class petroleum province
Strike Energy Limited (ASX:STK) is pleased to announce that the Eaglewood Joint Venture (Strike 30%) is due to commence a significant drilling program in the onshore Gulf Coast, Texas.
Details of the first three wells are set out below:
Prospect First Well Estimated Drill Start
Homestead Muegge No 1 Early April
Pathfinder Starnes No 1 Mid April
Deerslayer (To Be Announced) June/July
Total Prospective Resource 350 Bcf (Recoverable)
Two drilling rigs have been contracted to drill the first two prospects simultaneously.
All prospects are in the Wilcox trend onshore Texas where Strike has experienced three successes (the Mesquite, Rayburn and Louise discoveries) from five exploration wells to date.
All prospects are conventional onshore Gulf Coast opportunities which have been selected as commercially attractive at gas prices in the $3 to $4/mcf price environment indicating their robust economic nature.
In addition to the three new exploration wells, the Eaglewood Joint Venture is preparing to drill several other prospects as part of the program for 2010


Louise Production Facilities
The installation of production facilities at the recent Louise gas discovery is nearing completion with the finalisation of tie-in arrangements to nearby pipeline infrastructure.
Production testing and sales of gas will commence once the pipeline infrastructure has been installed.
Strike Managing Director Simon Ashton said the Company was about to embark on an extensive exploration program which offered investors substantial upside.
“The recent successful Louise discovery, where the initial well is expected to produce between two to five million cubic feet (MMcf) of gas per day, highlights the substantial potential of the onshore Gulf Coast prospects,” Mr Ashton said.

[bermuda]

EXTENSIVE DRILLING PROGRAM SET TO START ON GULF COAST, TEXAS
Highlights
• Two rigs contracted for a new three-well exploration program
• Drilling scheduled to commence within one week
• Combined prospectivity of three new wells is up to 350 Bcf
• US drilling program on track for up to ten wells in 2010, offering investors significant exposure to exploration in proven world-class petroleum province
Strike Energy Limited (ASX:STK) is pleased to announce that the Eaglewood Joint Venture (Strike 30%) is due to commence a significant drilling program in the onshore Gulf Coast, Texas.
Details of the first three wells are set out below:
Prospect First Well Estimated Drill Start
Homestead Muegge No 1 Early April
Pathfinder Starnes No 1 Mid April
Deerslayer (To Be Announced) June/July
Total Prospective Resource 350 Bcf (Recoverable)
Two drilling rigs have been contracted to drill the first two prospects simultaneously.
All prospects are in the Wilcox trend onshore Texas where Strike has experienced three successes (the Mesquite, Rayburn and Louise discoveries) from five exploration wells to date.
All prospects are conventional onshore Gulf Coast opportunities which have been selected as commercially attractive at gas prices in the $3 to $4/mcf price environment indicating their robust economic nature.
In addition to the three new exploration wells, the Eaglewood Joint Venture is preparing to drill several other prospects as part of the program for 2010


Louise Production Facilities
The installation of production facilities at the recent Louise gas discovery is nearing completion with the finalisation of tie-in arrangements to nearby pipeline infrastructure.
Production testing and sales of gas will commence once the pipeline infrastructure has been installed.
Strike Managing Director Simon Ashton said the Company was about to embark on an extensive exploration program which offered investors substantial upside.
“The recent successful Louise discovery, where the initial well is expected to produce between two to five million cubic feet (MMcf) of gas per day, highlights the substantial potential of the onshore Gulf Coast prospects,” Mr Ashton said.

JB,
STX is about to fire up. I have quite a bundle in a Trust to be exercised after 3 years or $2.00, whichever is earlier. I chose STX because it has just about everything you want in a junior oiler. It's profitable, has great oil, great gas and great unconventional gas. And hopefully I wont have to trouble my lawyer re capital raisings.

[JBmurc]

JB,
STX is about to fire up. I have quite a bundle in a Trust to be exercised after 3 years or $2.00, whichever is earlier. I chose STX because it has just about everything you want in a junior oiler. It's profitable, has great oil, great gas and great unconventional gas. And hopefully I wont have to trouble my lawyer re capital raisings.

Yeah if only the market would take some notice STX volume was 766k the day before the great announment (talk about leaky ship)On the day of the great ann IMHO the volume was only 417k???
an worst of all the sellers pushed it back to the open price 26.5c like it was just another day a not the day STX announced their recent discovery is flowing at between 2-5mmcfpd
An the fact they were about to start one of the biggest set of drilling targets in STX history which could off only 3 wells ten-fold STX's current reserve position!!!.....Market Ho-hum?...

[bermuda]

Yeah if only the market would take some notice STX volume was 766k the day before the great announment (talk about leaky ship)On the day of the great ann IMHO the volume was only 417k???
an worst of all the sellers pushed it back to the open price 26.5c like it was just another day a not the day STX announced their recent discovery is flowing at between 2-5mmcfpd
An the fact they were about to start one of the biggest set of drilling targets in STX history which could off only 3 wells ten-fold STX's current reserve position!!!.....Market Ho-hum?...

Yes, if they can increase their reserves by ten fold it will make a huge impact. The market likes increasing reserves!
STX is poised to deliver over the next few years.

[Awamoa]

At last a few punters are starting to wake up.
This share has been at ridiculously low levels for too long.

[evilroyrule]

yes, about time to. anyone (cue monsieur drill) got a t/a take on the last week? have we turned the corner so to speak? obv must be up

[STRAT]

Hi Bermuda,
Just caught your post on the WCL thread and it reminded me to ask you a question Ive been meaning to put to you for a while.
From your perspective how would you weigh STX against BUL.
I have a tiny holding in BUL and was considering increasing it ever since the chart turned amonth or so ago. I have a reasonable holding in STX

[bermuda]

Hi Bermuda,
Just caught your post on the WCL thread and it reminded me to ask you a question Ive been meaning to put to you for a while.
From your perspective how would you weigh STX against BUL.
I have a tiny holding in BUL and was considering increasing it ever since the chart turned amonth or so ago. I have a reasonable holding in STX
Strat,
It is a good question. I got another 300k STX today to bring my holding to 500k. STX has significant upside if they can raise there reserves and I think they can.

BUL on the other hand is overlooked and is awaiting a very big decision by Kogas to take up their option to become a significant shareholder which I am pretty sure they will. If they do go ahead we will see a big rerating.

You just have to be patient in this game.

[JBmurc]

RIG MOBILIZED FOR FIRST GULF COAST WELL
Strike Energy Limited (ASX:STX) is pleased to announce the rig to be used to drill the Muegge 1 well on the Homestead prospect has been mobilized and rigging up has commenced. Some delays were experienced last week due to trucks not being available. The well is expected to spud before the end of the month.
Muegge 1 is the first of an announced three well program in the Gulf Coast Texas evaluating 350Bcf of prospective gas resource.
Yours faithfully
TONY BRAZIER
Company Secretary

[evilroyrule]

JB, have a look at the company presentation from STX just out. Many thanks for this stock. Its growth over three years and GP are quite staggering. Even if they only increase reserves five fold instread of the 10 predicted, this is a great story. strong year of further exploration and consolidation. i plan to take CFE divvy, then switch CFE for STX. Good mid term play i think. thanks again

[evilroyrule]

following on from yesterday, latest Hartleys report has six month target of 51 cps and buy recommendation. certainly stx has lots in the pipeline.

[Oiler]

Hi Bermuda,
Just caught your post on the WCL thread and it reminded me to ask you a question Ive been meaning to put to you for a while.
From your perspective how would you weigh STX against BUL.
I have a tiny holding in BUL and was considering increasing it ever since the chart turned amonth or so ago. I have a reasonable holding in STX

STRAT ask Bermuda this question again ;) I think he might have firm answer. STX :):)

This is a company that is about to take off. Check out there Sydney presentation, very impressive.

[JBmurc]

JB, have a look at the company presentation from STX just out. Many thanks for this stock. Its growth over three years and GP are quite staggering. Even if they only increase reserves five fold instread of the 10 predicted, this is a great story. strong year of further exploration and consolidation. i plan to take CFE divvy, then switch CFE for STX. Good mid term play i think. thanks again

Yeah looking real good hoping someone will sell me some more ,been waiting for STX to break new 40c+ highs for a alot years now looks like it could well be this one

[STRAT]

STRAT ask Bermuda this question again ;) I think he might have firm answer. STX :):)

This is a company that is about to take off. Check out there Sydney presentation, very impressive.Hi G,
We must be way overdue for a beer , wine , Scotch or two. How you been? I assume you are on the other side of the ditch but on a temorary basis only.

I currently am a bit of a cripple with only one good arm and one good leg. PM for for the details and a good laugh but suffice to say, concrete diving is a hobby I intend to abandon :lol:

Dry concrete from 6 feet at least :scared:

[evilroyrule]

some fokka got a great big lid on at 29. im going for a week and coming back then. seems to be a bit like the watched pot or something like that. jeez, HC should start his own investment company. first gir, now hun and cpl going like the clappers. well done to all who jumped in. i was busy chasing shadows. later skaters. pacman, looks like irn rebounding. see you in chch in aug

[impacman]

Hi ER - see you in ChCh indeed. Interestiing times atm. Hanging in there though. Liking the STX. Hopefully will see some movement upwards over the next quarter.

Cheers,

I-man

[evilroyrule]

pacman, nice work on the irn. i got a bad feeling re cxs at the moment kimasabe. but hanging in there. stx on the other hand is a land full of promise, where its summer every day, there is no bad news, and pelople dont lock their doors anymore. lot of people very bullish re BUY at mo. doing some digging.

[impacman]

Yeah I am having a few nerves on the CXS atm but also hanging in there. Am watching it pretty closely though - not that that helps as movement (up or down) will be quicker than my buy/sell finger. STX is definitely full of promise and I have a reasonable holding. Next few weeks of drilling will be critical for a break and hold in the 30's. Not a huge amount of downside imho. Watching and waiting - and trying not to loose too much sleep!

[Oiler]

Hi ER - see you in ChCh indeed. Interestiing times atm. Hanging in there though. Liking the STX. Hopefully will see some movement upwards over the next quarter.

Cheers,

I-man

I-am oops I mean I-man, I am looking for a 10 fold increase in reserves in 2010 after hearing a very convincing story in Sydney this week. If that doesnt kick this baby in the ass then nothing will.

[evilroyrule]

thanks for that oils. best story you heard so far? been a lot of talk for BUY?

[impacman]

I-am oops I mean I-man, I am looking for a 10 fold increase in reserves in 2010 after hearing a very convincing story in Sydney this week. If that doesnt kick this baby in the ass then nothing will.

Hi Oiler, nice to hear from you and particularly with such a positive view of STX - I know you are not inclined
to over estimation. Not sure which side of the Tasman you are occupying atm but after hearing of Strats attempt to develop a new olympic sport I think it is an opportune time to consider another catch up. I see AMR s of the same view. Hope all is going well and look forward to catching up again.

Cheers,

I-man

[evilroyrule]

classic. as soon as we hit 30, big lid at 29.5 comes back down. buy pressure building too. interesting weeks ahead on this one.

[evilroyrule]

bit of a conversation with myself at the mo, but thats alright. nanny hotpants is away so i got the kids watching movies. if you look at the buy depth now, that fokka with 300k not there. bet he be back tuesday morning. must be ann. on the way. happy sunday everyone.

[JBmurc]

Won't matter much if he is this time next month I'd be very surprised if STX isn't trading well into the mid 30's
Nat Gas is really out of favour price wise so with STX success an Gas price rise which will come we will get a double boost of buying pressure

[JBmurc]

Depth looking very positive for STX bids to move north into the 30's bring on the next discovery 40c-50c if large which the zones look to have

[bermuda]

Depth looking very positive for STX bids to move north into the 30's bring on the next discovery 40c-50c if large which the zones look to have

Announcement out today gives details of our next drill. I have a strong feeling we are going to hit paydirt but as we all know the drill bit does the talking.
I spoke with the guys at the O&G conference. Very encouraging. And it was a good STX presentation by Derrick O'Keefe.

[JBmurc]

Announcement out today gives details of our next drill. I have a strong feeling we are going to hit paydirt but as we all know the drill bit does the talking.
I spoke with the guys at the O&G conference. Very encouraging. And it was a good STX presentation by Derrick O'Keefe.

Yes these next few drill are a next step up for STX slow n steady they will reward all involved even if they hit only one as long as it add's major reserves STX will move higher they have a very good success rate as their J.V with some very smart operators

[evilroyrule]

nice work. one more well away from 30c imo

[JBmurc]

nice work. one more well away from 30c imo

If they hit the mother load 100bcf+ to STX they should fly past 30c onwards to 50c+ ---( should be worth a least 2-3mill per BCF in ground value)

[evilroyrule]

nice little warm up today. stx 6%, cfe 2.5%, cvx 19%. hzn 5% cant help thinking tomorrow will be a bolter. JB, i think you missed a zero off your days gains of 17500.

[JBmurc]

nice little warm up today. stx 6%, cfe 2.5%, cvx 19%. hzn 5% cant help thinking tomorrow will be a bolter. JB, i think you missed a zero off your days gains of 17500.
Na that was it I did take quite abit out of the market awhile ago my mates portfolio was up 36k he very stoked I sold down 2/3 of his positions before the recent sell-off

[remy]

joined the team on friday :) heres hoping for a solid week pushing the 30s...

[evilroyrule]

welcome remy. nice buying on friday. apparently there is a presentation friday to investors, and flow rate announcement soon after. good times we hope!

[evilroyrule]

weird **** going on stx today. first bid at 27. someone then dumped 200k and immediately a 200k buy appeared at 25? whats up?

[remy]

any reason for the dip today other than the market bringing it down? didn't see anything bad about the ann today..

[bermuda]

any reason for the dip today other than the market bringing it down? didn't see anything bad about the ann today..

Just the market. Stick around and Simon Ashton just might be lucky enough to increase our reseves 10 fold. Now wouldn't that be nice.

[evilroyrule]

i cant buy a trick at the mo. had big bad boy in at 20.5 just missed! trying to recoup some of these lossess. day trader i am not. easy 10% on these today imo if you got in first 3-40 mins. time will tell

[soulman]

Just unlucky evil. Some day they would've got in and some they don't. The luck of the trade.

[remy]

congrats to anyone who picked them up at 21-22, should be able to make a nice quick buck come mid next week if history repeats its self (two weeks ago).

[evilroyrule]

congrats to anyone who picked them up at 21-22, should be able to make a nice quick buck come mid next week if history repeats its self (two weeks ago).

for farks sake! fin at 26???? missed on 30% in a day. better than i done all year. i am a gimp:ohmy::(

[mattyroo]

Beauty announcement out today. Latest discovery giving them an extra 25% in production volumes, with a ~200k/month increase in revenue.

With the Starnes and Muegge wells due to hit target depth in mid to late June, with these targeting an est. 350Bcf this could be great month for Strike.

[bermuda]

Beauty announcement out today. Latest discovery giving them an extra 25% in production volumes, with a ~200k/month increase in revenue.

With the Starnes and Muegge wells due to hit target depth in mid to late June, with these targeting an est. 350Bcf this could be great month for Strike.

Yes a nice strike Mattyroo. Pardon the pun. Good to have some good news for a change and from what I have been reading the price of gas should go higher in the next few months. A whole host of shale gas players are having their a...e kicked after having paid big money for leases that are not performing,...particularly in a $4 market. A lot of them are having to sell out to the majors who have the cash resources to wait things out until the price rises. Industrial demand is increasing and coal power plants are being backed out in favour of gas which is more efficient, easier to start up and 'greener'.

It is a complicated story this worldwide gas scenario. Have a read of Groppe's and then Bill Francis's opinions.

[mattyroo]

I'll be very surprised if a lot of the shale gas that has been mooted ever gets off the ground, especially in the current climate. Very few shale gas fields ever prove to be a viable long-term resource, due to the rapidity that the flow rates decrease.

[evilroyrule]

nice bid this morning for 500k at 27. should help things along a little

[mattyroo]

nice bid this morning for 500k at 27. should help things along a little

Don't be surprised if it gets pulled right before the open.

[evilroyrule]

it did not. went through

[JBmurc]

looking very oversold IMHO Nat GAS spot & futures round $5mmcf as of recent drilling success STX now increasing production another 25% Yet the SP has falling by as much 3 company making drills ongoing some worry as the haven't announced anything on middle wilcox on the first they have drilled through--maybe they have but they want to wait ti the full depth is drilled?

STRONG PROGRESS ONSHORE GULF COAST
Highlights
• Louise prospect gas sales continue at commercial rates.
• Two wells now drilling as part of the three-well programme targeting 350 Bcf of gas.
• The first of these, Muegge 1, on the Homestead prospect in Wharton County, is well advanced. The second, Starnes 1 on the Pathfinder prospect, has been spudded.
• This three-well programme has potential to increase Strike’s reserves 10-fold.
Strike Energy Limited (“Strike” or “the Company”) is pleased to announce the acceleration of its drilling programme in the Gulf Coast Texas as well as continued further commercial production from the Louise prospect.

[evilroyrule]

fingers crossed for this week

[evilroyrule]

****house. i need 10 characters apparently

[evilroyrule]

not many stx holders left? nice action today on news that i wouldnt have thought wld put such a rocket up the ol' sp.

[bermuda]

not many stx holders left? nice action today on news that i wouldnt have thought wld put such a rocket up the ol' sp.

Evil Roy, PL96 rules.
I have 500k stashed away in a trust for 3 years or $2.00 whichever comes first plus another 1m for the wife. This little company is completely unrecognised with profitable cashflows and potential to boot. We have been very patient and the next 6 months could set STX as a big CSG supplier( in due course ) into a very approximate market without the need to build all the infrastructure.

Glad you are holding.

[ELYOB]

I wonder if the Beach is keenly watching this , although it is some distance away . Going to be interesting ???

[mattyroo]

Still accumulating myself, was buying heavily at 20, 20.5 and 21 last week.

[Oiler]

Still accumulating myself, was buying heavily at 20, 20.5 and 21 last week.

Roo you sly one ;) I have also been adding this one over the last week or so after holding a chunk at around 23 avg over the last year.

[evilroyrule]

Evil Roy, PL96 rules.
I have 500k stashed away in a trust for 3 years or $2.00 whichever comes first plus another 1m for the wife. This little company is completely unrecognised with profitable cashflows and potential to boot. We have been very patient and the next 6 months could set STX as a big CSG supplier( in due course ) into a very approximate market without the need to build all the infrastructure.

Glad you are holding.

hi B, im left with just cfe, stx and hzn these days. not much of a diverse holding, but pretty resistant to wild fluctuations. i will be buying more at less than 23cps

[evilroyrule]

interesting buying of late in stx. fingers crossed for positive drill results. might get back in the blue on this yet!

[JBmurc]

could well be the week STX announce another discovery still holding a few hoping they will reward for my many years of patience

-7 july TEXAS
Muegge 1 well
The Muegge 1 well (Strike WI 30%) on the Homestead prospect in Wharton County, Texas was at depth of 3,883 metres (12,740 feet) on 6 July 2010. Drilling has recommenced after the mechanical operational delays were overcome. The well is expected to reach total depth of 4,267 metres (14,000 feet) within the next ten days.
Steindorf 1 well
The Steindorf 1 well (Strike WI 30%) on the Deerslayer prospect was due to be drilled immediately after the Muegge 1 well. Due to the operational issues with the Muegge drilling the operator is reviewing the next well’s drilling operation. This could lead to a delay in the commencement of the Steindorf 1 well.
The Muegge and Steindorf wells are the second and third wells to be drilled testing 350 Bcf of prospective gas resource. The first well Starnes 1 intersected no commercial hydrocarbons.

-----------------------------------------------------------------------------------------------------------------------------
I also remember JC saying a BCF in ground had a value round 5mill back when Nat gas was higher(6-7mmcf)
say STX drill a massive 300BCF find their share 100BCF X 2.5 mill =250mill conservative in ground value
the market values STX at 71mill ---------------------

--------------------------------------------------------------------------------------------------------------------------------------

Also should here something on the southern cooper drill soon could well be worth many hundreds of millions
to STX market value

[mattyroo]

Yep JB, STX could well be a 200 million$ company by years end.

The beauty of what they're doing, is that their drills are not too high risk, yet are high reward. Most of their drilling can be funded from existing revenue streams, and their success rate has been exceptional so far. Long may it continue!

[evilroyrule]

again the buying pattern today suggests things are looking good imo. any day now...

[JBmurc]

looks like it will be next week for an update on drilling

[JBmurc]

looks like it will be next week for an update on drilling
Or maybe not


SOUTHERN COOPER COAL SEAM GAS EXPLORATION
Highlights
• 15 metre gassy coal seam cored in first objective of Forge 1 well.
• Gas evidenced from mud logs, gas bleeding from coal cores and early stage gas desorption tests.
• 224 metres of coring planned to total depth of 1,505 metres.
Strike Energy is pleased to announce that the Epsilon coal which was the first objective in its Forge 1 well in the Southern Cooper Basin has been successfully cored and encouraging gas readings have been recorded.
A 15 metre coal seam has been cored between 1,311 and 1,326 metres. Gas has been recorded from mud logs while coring and gas has been observed bleeding from the coal cores. Core samples continue to desorb gas in the wellsite laboratory.
The well is currently at a depth of 1,351 metres. The Patchawarra coals which are the second objective in the well are prognosed to occur at approximately 1,400 metres.
Coring commenced at 1,281 metres. A total of 224 metres of core will be cut prior to reaching a planned total depth of 1,505 metres.
Evaluation of permeabilities will take place after the coring of the Patchawarra coals. The gas desorption tests and further analytical tests will continue in Brisbane after the end of the well.
The Forge 1 well is the first well in the Southern Cooper to target specifically coal seam gas potential. The prospective gas resource potential of the Permian age coal measures in PEL 96 is estimated at 3,700 to 9,300 petajoules, or approximately 3.7 to 9.3 trillion cubic feet (Tcf) (100%).

[mattyroo]

We should hear in the next few days how the second (primary) target in the current drill in the Southern Cooper has fared. Hoping for a good announcement..... hopefully the deeper coals are better than the shallower.

Looking at the buy depth though, it does not look healthy. If I wanted to unload my shares, I'd be knocking 25% off the current share price - ouch!

[JBmurc]

We should hear in the next few days how the second (primary) target in the current drill in the Southern Cooper has fared. Hoping for a good announcement..... hopefully the deeper coals are better than the shallower.

Looking at the buy depth though, it does not look healthy. If I wanted to unload my shares, I'd be knocking 25% off the current share price - ouch!

Yeah drill results from the US didn't sound to positive 2 down one to go--- really need the deep Southern Cooper to be good or STX could well be coming back to the market to raise extra cash.. have sold down just under half of my STX holding sitting on abit of cash watching if the S.cooper isn't good we will see the SP in the teens

[evilroyrule]

expecting good news before the week is out.......praise to allah it is!

[JBmurc]

expecting good news before the week is out.......praise to allah it is!

Yes we need some good results from the CSG test drilling tom stop STX slipping into the teens

[JBmurc]

Yes we need some good results from the CSG test drilling tom stop STX slipping into the teens

Not confident on STX short term SP growth so as of today sold my last parcel of STX--
longer term I'm sure they do well in the mean time I think another Cap raising is coming many dusters much spent ,CSG drill looks like will have to be drilled again with a different rig..overall STX won't be doing much with most of there spare cash being spent of late..

[STRAT]

STX looks to be on the mend JB.

early days yet but.......

[JBmurc]

yes getting some interest pre drill on a big Nat gas target in no hurry to buy back in personal still have a few shares in a mates portfolio might sell some soon

[evilroyrule]

if you wanted out todays the dat JB, check the ann. just out. stx on the rise. yee haaa! 77% increase in US reserves

[JBmurc]

if you wanted out todays the dat JB, check the ann. just out. stx on the rise. yee haaa! 77% increase in US reserves

Yeah sadly it Nat gas which isn't worth as much these day only $4mmbtu USD used to be near twice that ,is the reason I moved funds into SSN AMU have a good portion of Oil with their Gas
If STX get's a good discovery at Deerslayer I'd wish I still held otherwise SSNO,AMU should well outperform STX in the near term

[evilroyrule]

jb, has liquidity been an issue/is an issue with amu?

[JBmurc]

jb, has liquidity been an issue/is an issue with amu?

Na i don't think so AMU hasn't be traded much as one it's SP has just bottomed after a long down trend it's on very few radars watchlists etc
- It's also not a flashly big hype producer an explorer of massive targets like some of the others overall the numbers do the talking AMU have 40-50c per share in 2p reserves if you value the Oil an Gas at 30bbl & $2mmbtu they have a few very interested parties that want to buy all of AMU assets for 30c AMU want 40c+ they have just spud a well that could well add 10c+ to their value
Nothing against STX as I still have interests in STX but I'd be surpised if STX is above 30c before AMU is time will tell an as for SSN this time next year it should well be over 30c from 7c

[Awamoa]

Announced today that they have gas on their latest drill.
They are doing wire logging and will give results in the next day or 2.
If its the goods this could give the share price a major lift.
Sitting with fingers crossed

[STRAT]

Poor ol STX is really sliding. Interesting spike in the OBV as she fell though over the last month.

[JBmurc]

yeah glad to have sold my large positions north of 23c could be good buying if the STX management would walk the talk a bit more

[drillfix]

Hi Strat,

I thought that some divergence in OBV upwards and falling shareprice downwards may have eventually shown us an upward shareprice.

Goes to show I guess that OBV divergence on certain types of stocks doesn't always work.

[STRAT]

Hi Strat,

I thought that some divergence in OBV upwards and falling shareprice downwards may have eventually shown us an upward shareprice.

Goes to show I guess that OBV divergence on certain types of stocks doesn't always work.Hi Drill.

Phaedrus would be the man to clarify but it tells me that someone is buying in and that high volume days have had enough buy pressure to push the sp up a tad so give it some time. OBV is often first warning.

Volume has increased during the last 3 weeks and 1/3 of those days were up.

I reckon the divergence is worthy of note and worth putting on close watch.

Hows this for some crystal ball bull****? :lol:
I will speculate that if someone in the know is doing the buying but it could well be 3 to 6 months before what they might know becomes evident.

[Phaedrus]

Goes to show I guess that OBV divergence on certain types of stocks doesn't always work.

OBV/Price divergences mean little or nothing, Drilly. The idea is that you are looking for both price and volume to be going the same way, thus confirming each other. For example, a trendline-break "buy" signal would be ignored unless the OBV turned up. Similarly, the OBV going up or down would not trigger sell or buy signals unless confirmed by price action.

This is the reverse of oscillators such as the RSI where you are actively looking for divergences because they provide buy/sell signals.

When price and volume diverge, you got nuffink.

[gazprom1]

Bermuda, are you holding STX? Has really moved upin the past few days since the announcement of the sale of assets in the US. Market seems to like the news. Any thoughts?

Gaz

Discl: Hold

[bermuda]

Bermuda, are you holding STX? Has really moved upin the past few days since the announcement of the sale of assets in the US. Market seems to like the news. Any thoughts?

Gaz

Discl: Hold
Gazza,
Still holding 500k for my late brother's children. To be sold at $2.00 or end 2013, whichever is earlier. As you know this company has a lot of irons in the fire. Good to see them cash up on a depreciating asset. Patience is required in this game. Lots of it. Ain't selling any of these.

[Awamoa]

Interest is at last returning to this stock over the last couple of days.
Lets hope our patience is going to be rewarded.

[JBmurc]

Interest is at last returning to this stock over the last couple of days.
Lets hope our patience is going to be rewarded.

yeah I hope so for you guys still holding has been a long road ...guess it will come down to some success with the drillbit which has been a problem in the past

[Awamoa]

Another good day today.

[slimwin]

Hey, I used to go to awamoa school.

[seaosh]

Anyone got any insights into the profitability of the Eagle Ford shale given the very low US gas prices? Just broken decade lows I hear. . .

[JBmurc]

Anyone got any insights into the profitability of the Eagle Ford shale given the very low US gas prices? Just broken decade lows I hear. . .

yeah wouldn't think it would be profitable at all unless your getting good amount of oil with it......crazy that the energy hungry USA isn't converting more power plants,transport,homes to Nat Gas....is completely disconnected from the high oil price

[impacman]

Looks to be some pretty encouraging results if the following announcement is anything to go by. Will be interesting to see what the market thinks.


http://www.asx.com.au/asxpdf/20120417/pdf/425n8xqvftc4pt.pdf


Cheers,

I-man
Disc: Hold

[JBmurc]

yeah has gone up well on just gas HC shows ...some big expectations from one of the duster kings

[seaosh]

STX up sharply the last few days.

[seaosh]

Looks set to make its highest close in a year.

Glad I topped up my position in this one a month back.

[seaosh]

So after an uninspiring 18 months STX is yet again on a high for the year. Anyone still in?

Fortunately I sold some (sadly not all) of my STX when it was around its peak in late 2012. Then bought back around 10c. So right now I'm actually in profit - just for a change.

[Aotea]

Gidday seaosh,
yep, have been holding STX for close to a year now I guess, up around 30% or thereabouts I guess.
Its a long road, but an interesting one.
Could be worth the wait, a lot of action in the next 12 months.

[impacman]

Yep still in there. Long term holder now. Not quite back in profit yet but closer than I have been of late. Bermuda is still in I believe. Lets see how the fracs, flow rates, and production testing go. Certainly a bit of interest in the cooper atm.

[bermuda]

Yep still in there. Long term holder now. Not quite back in profit yet but closer than I have been of late. Bermuda is still in I believe. Lets see how the fracs, flow rates, and production testing go. Certainly a bit of interest in the cooper atm.

Yep still in donkey deep. These plays take an inordinate time to ripen. STX and those 3 large customers aren't stupid. Had a sober look at Ground Zero today and tomorrow it is back to the homeland...Bermuda.
GLTA
Wrench is a smart cookie.

[JBmurc]

11c geez think I paid that near on a decade ago(sold in the 20's) ...hope for you long termers they finally get the market love

[bermuda]

Good luck Strikers. Orica has confirmed it wants to be part of the show.
Great news.

[artemis]

Big news, big SP jump.

[BRICKY]

More Big news today. Hit a Trifecta!!!

[BobbyMorocco]

Timely upgrade this morning. Just beautiful! :t_up:

[bermuda]

There is a very good interview between CEO Stuart Nicholls and Peter Strachan just out.
Well worth a listen
STX has the potential to start a global gas hub in WA.
GLTAH...esp longtermers.
Best

Bermuda/tui

[artemis]

Now included in the ASX300. Won't do it any harm.