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donnie
21-10-2004, 02:07 PM
STX might be one to keep an eye on over te next few month.
21 October 2004

Australian Stock Exchange Ltd

STRIKE OIL EXPANDS CARNARVON BASIN DRILLING PROGRAM FROM THREE TO FIVE WELLS
Strike Oil today announces it will participate in the drilling of a further two wells in the Carnarvon Basin, increasing its drilling program in the basin to a total of five wells. The two additional wells are due to be drilled in the first half of 2005, with the first of the five wells, Altostratus 1, due to commence drilling in mid to late November 2004. (Refer Figure 1)
Strike Oil holds a 16.2% interest in Permit WA-261-P where the Operator (Apache Energy) has proposed the drilling of the two wells, Vesta 1 and Gats 1 (refer figure 2), with prospect recoverable oil potentials of 20 and 33 million barrels of oil respectively. Strike Oil also holds significant upside exposure to similar prospects immediately to the south in TP/17 where it has a much larger 90% interest. The potential associated with these prospects in TP/17 would be greatly enhanced by success in the planned drilling at Vesta 1 and Gats 1.
Strike Oil had previously elected not to participate in the drilling of the Vesta 1 well. However, further technical work has improved the view of the prospectivity indicating greater potential for an oil accumulation at the Vesta 1 location, up-dip of an interpreted residual oil column encountered in the Ceres 1 well.
Strike Oil Managing Director, Simon Ashton said, “We also intend to develop further drilling prospects by undertaking a major seismic survey planned for the first half of 2005. The expansion of the current drilling program and the planned seismic survey, demonstrates our commitment to maximising opportunities for significant growth through exploration success in the extensive acreage position held in the Carnarvon Basin”.
FORTHCOMING CARNARVON BASIN DRILLING PROGRAM
Well Permit Equity Potential * Estimated Operator
Million bbls Timing
100% Equity
Altostratus 1 TP/17 90% Mid-late Nov 2004 Strike Oil
(4 targets) 21-48
16-37
12-29
3-5
Boojum 1 TP/18 50% 6-11 Dec 2004 Tap Oil
Cooper 1 EP 325 40% 12-23 Dec 2004 Strike Oil
Vesta 1 WA-261-P 16.2% 9-20 1st half 2005 Apache
Gats 1 WA-261-P 16.2% 14-33 1st half 2005 Apache
Note
* Potential ranges represent mean to upside (P10) recoverable oil potentials.
Yours faithfully
SIMON ASHTON
Managing Director - Strike Oil Limited
Further information:
Strike Oil Limited
Simon Ashton - Managing Director
T: 08 9225 4446
E: strike@strikeoil.com.au
Fowlstone Communications
Geoff Fowlstone Lindsay Muir
T: 02 9955 9899 T: 02 9955 9899
M: 0413 746 949 M: 0400 320 540
E: geoff@fowlstone.com.au E: lindsay@fowlstone.com.au

JBmurc
17-12-2005, 02:32 PM
;)STX is set to rocket up at least 100% over the next couple months by far the best buy on recent news of there recent deep US drill with good gas shows over 400m ,news of flow rates will determine SP increase -little downside at current price, with alot of drilling over the next year only more upside to come;)

JBMURC holds STX

JBmurc
03-01-2006, 05:16 PM
STX - 10,000 traded at 20c , up 60% under a month with more to come;)

roget
01-02-2006, 05:13 PM
Certainly one of the better prospects for Febraury. It moved on news of the find at Shefick Texas today but two more wells to come. Both from good areas and with good prospects. Technically the chart is good and regardless of the other two results the flow announced today should be enough to support the market cap of this minnow.

JBmurc
24-02-2006, 04:04 PM
UP 229% held 5 months;) 37c will break through 40c over next couple weeks -the growth expansion over the next year for STX is huge
-shefcik #1 7.1mcf gas, 170barrels of oil con per day -26%stx- ;)times this by 3-4 at least by mid 06
stx est.1Mill aud per month nett revenue ;) with more high impact wells to be drilled

$1 per share before years end say at least 800% profit only wish i had more than 100,000ords;)

JBmurc
05-04-2006, 08:53 AM
STX-37.5 Last chance to get on board;) ,pef shares can be traded from today on, so may see a little retracment will be the last chance till 50c+


STX the next PSA
from 12.5c to $1 , $2;)


JBMURC holds -STX

JBmurc
17-10-2006, 10:46 AM
Big 4 month drilling program coming up for STX
-good current production -10m profit for the yrs prob.
-At current 22c sp there is very little 2-4c max built into the sp for any success over the next 4 months ,remember STX drill got 4 out of 4 last drill program;)
-Is hugely undervalued IMHO just check out there upcoming drilling

http://www.sharescene.com/index.php?act=Attach&type=post&id=352236

Gas prices are also at a low STX with production already will rise with prices.
MY pick 30c soon feb next yr $1-$1.50

Citadel, Funds Bet $3 Billion After Amaranth Falls (Update3)

By Geoffrey Smith and Matthew Leising

Oct. 16 (Bloomberg) -- Citadel Investment Group LLC, a $12 billion hedge fund manager, T. Boone Pickens and the Merchant Commodity fund expect natural gas to rebound from a historic losing streak.

Hedge funds amassed a $3 billion wager on rising prices in New York futures markets as gas plunged 74 percent in the past 10 months, the biggest drop of any commodity. Chicago-based Citadel added to its bet in September by taking over trades from Amaranth Advisers LLC, the hedge fund that's closing after losing $6.5 billion in the gas market.

Demand for gas, used for furnaces and power plants, will outstrip supply as production from U.S. wells declines in 2007, say the chief executive officers of energy producers Devon Energy Corp. and EOG Resources Inc. Natural gas will average $9 per million British thermal units over the next 12 months, says EOG's chief, Mark Papa, up from less than $6 last week.

``If you told me I had to go long or short today, I would go long,'' betting on higher prices, said Pickens, whose Dallas hedge fund is up 120 percent this year. Gas may reach $10 this winter if cold weather depletes inventories, he said on Oct. 11 in New York. He declined to predict when his fund might get back into the gas market after exiting earlier this year.

Natural gas may rise as high as $12 per million Btu by March, said Michael Coleman, founder of Singapore-based Aisling Analytics Pte Ltd., which runs the $386 million Merchant Commodity hedge fund.

Gas for November delivery surged 78.1 cents, or 14 percent, to $6.44 per million Btu at 2:30 p.m. on the New York Mercantile Exchange as forecasters predicted cooler weather in the Midwest. It was the biggest single-session rally since July 31.

Falling Supply

While demand for gas to run power plants is increasing in North America, supply isn't growing, said Michael Morris, chief executive of Columbus, Ohio-based American Electric Power Co., the second-biggest U.S. electricity producer. Prices fell earlier this year after the fifth-warmest winter on record and a cool summer that reduced demand for electricity to run air conditioners.

The amount of gas pumped from U.S. wells is likely to decrease 1 percent this year, and supplies from new wells are declining at a faster rate than five years ago, said David Khani, an oil and gas analyst at Friedman, Billings, Ramsey & Co. analyst in Arlington, Virginia.

Daily U.S. production of natural gas fell to a 12-year low of 49.8 billion cubic feet in 2005 because of damage to plants from hurricanes, according to the U.S. Energy Department.

``The critical part is the production capacity of natural gas wells, and that is flat at best from the past winter,'' Devon Chief Executive Larry Nichols said in a telephone interview. Prices may rise ``dramatically,'' especially if winter is colder than normal, he said. Devon, based in Oklahoma City, is the second- largest independent U.S. natural gas producer.

Amaranth's Book

Demand for natural gas will increase by 3 percent in the U.S. next year because of rising power production needed to support an expanding economy, the government forecasts.

Gas supplies are tightening worldwide. In India, generators that cost $4.4 billion to build are idle because of a shortage of natural gas on the international market. South Korea, Asia's third- largest economy, faces a shortage of liquefied natural gas until at least 2015, forcing utili

JBmurc
18-10-2006, 01:46 PM
more good news on future gas prices-
hoping for a cold US winter ;) As storage levels are very high keeping prices down ATM.

Report: More natural gas drilling needed
Oct. 17, 2006 at 6:06PM
The American Chemical Society, an industry group, Tuesday warned Congress that without more natural gas, diesel fuel costs could soar.
Because ultra-low sulfur diesel fuel has become mandatory, more and more natural gas is being required to produce the higher-priced motor fuel. Specifically, natural gas supplies the methane, which, in turn, provides the hydrogen used by most refiners to cut sulfur levels in their diesel fuel to legally acceptable levels.
But since drilling for much of the nation's substantial natural gas reserves is prohibited, the switch to ultra-low sulfur diesel fuel will drive up the price of available natural gas supplies.
"If the nation is to be successful in our pursuit of cleaner diesel fuel, then Congress needs to change energy policies to help bring about reliable, affordable access to natural gas," the ACS said in a statement.
"The same goes for cleaner electricity generation, ethanol production, and solar and wind power materials -- all of which require natural gas."

JBmurc
19-10-2006, 09:25 AM
Great time to buy some under valued -ASX- USA gas companys
My favs-STX,ADI,PSA,COI

STX- 900,000 revenues per month

Natural Gas Gains on Expectations Early Cold Will Boost Demand

By Geoffrey Smith

Oct. 18 (Bloomberg) -- Natural gas rose for the second day in three as traders bought the furnace fuel on the expectation that demand will rise as winter approaches.

The benchmark contract has risen in the month of October 12 out of 16 times since futures trading started in 1990. Colder weather boosts fuel consumption from household and commercial furnaces. Gas has climbed 21 percent so far this month, rebounding from a 50 percent annual decline in 2006.

``It's trying to turn the trend around,'' said Rodney Dow, president and founder of Garrison, New York-based broker and consultant Dow Corp. ``The market has been greatly oversold.''

Gas for November delivery rose 36.5 cents, or 5.7 percent, to $6.807 per million British thermal units on the New York Mercantile Exchange. Gas has climbed 20 percent this week.

Forecasters predicted below-average temperatures across much of the northern U.S. next week, according to the latest outlook from the U.S. Climate Prediction Center. The lowest readings will be clustered in the Midwest and Great Lakes regions, the biggest residential gas markets.

Below-normal temperatures last week in the northern Plains and Midwest boosted demand and limited the amount of fuel flowing into storage caverns, analysts said.

The weather averaged 54 percent cooler than average last week in a cluster of states including Minnesota, Iowa, Missouri, Kansas, Nebraska, and the Dakotas, according to data from the National Oceanic and Atmospheric Administration.

Supply Report

U.S. gas stockpiles may have climbed by 48 billion cubic feet last week, according to the median estimate from 21 analysts in a Bloomberg survey. That would compare to an average increase of 66 billion the past five years and a rise of 72 billion a year ago, government data showed.

The Energy Department's weekly report on inventories is scheduled for release tomorrow at 10:30 a.m. from Washington. The analysts' estimates ranged from gains of 35 billion to 70 billion.

While the November contract rose, contracts for delivery this winter fell, narrowing a spread that many analysts said has been too high for too long.

``The relationship between front and back months has just been ridiculously large,'' Dow said. ``It's coming back to normalcy.''

Traders bought the November contract, and sold contracts for delivery from December through March.

November's discount to December gas fell to $1.05, down from $1.84 on Sept. 1. The spread between November and January fell to $1.46, a 42 decline since Sept. 1. The December contract rose 15 cents to $7.852 and January rose 1.5 cents to $8.267.

Colder Weather Predicted

``What you're seeing is a reaction to the colder weather and the strength in the cash prices. That's affecting November,'' said Guy Gleichmann, president of United Strategic Investors Group in Hollywood, Florida. ``In the back months, you're seeing some weakness because they need more confirmation'' that colder- than-average weather will hit during the heart of winter, he said.

The winter will bring colder-than-average weather to the eastern half of the U.S., according to an outlook released today from AccuWeather Inc. The State College, Pennsylvania-based private forecaster said El Nino won't bring the mild winter that government meteorologists are predicting.

``The Northeast could experience severe, prolonged cold. Ten days or more of temperatures averaging 5 to 10 degrees below normal,'' AccuWeather forecaster Joe Bastardi said in today's report. ``Most likely during the month of January.''

The El Nino will remain weak, Bastardi said, and won't cause the mild winters associated with stronger versions of the phenomenon. Government meteorologists at the Climate Prediction Center said last week that El Nino weather patters will result in a U.S. winter that's 2.1

JBmurc
19-10-2006, 03:23 PM
Looking very bullish in the depth,Once drilling program starts STX will just keep uptrending,with by far the best drill program for size of company IMHO- Market cap 52m

Latest Quarterly---http://www.strikeoil.com.au/news/ASXannouncements.htm

P.S-is there any STraders holding STX or looking at buying[?]

---Sellers----
2 60000 0.235
3 98000 0.240
1 6800 0.245
3 78000 0.250
3 48230 0.255
4 233650 0.260
1 100000 0.275
7 258109 0.280
3 60000 0.285
2 32000 0.295

---BUYERS---;)
3 118702 0.230
1 175000 0.225
1 100000 0.220
5 112078 0.215
7 225000 0.210
4 113000 0.205
10 399000 0.200
3 130672 0.195
2 100000 0.190
3 260000 0.180

Dazza
19-10-2006, 07:38 PM
i hold from 33c

JBmurc
20-10-2006, 02:09 PM
--off HC---
STX has at least $10m in cash, earnings of $12m (value at a pe of 10) around $25m in proven gas reserves, and only 240m issued shares.

That values over 50 cents plus discovery.

up over 10% last couple days

JBmurc
20-10-2006, 02:12 PM
wouldn't be selling those EKAO yet DAZZA;)

JBmurc
30-10-2006, 01:09 PM
STX 29c with drilling rig contracted spud 10 nov at tow creek/bear river -----------Yea HA
----Back to 40c in no time----;)

Dazza
30-10-2006, 01:30 PM
no not yet jbmerc not yet lol

though i did sell some at 23 cents
.

im riding that baby free hold at the moment..


man i do hope stx brings me some goods eh.

JBmurc
30-10-2006, 03:58 PM
Yeah was close to going freehold on my EKAO till the trading halt -----would've still had a 20,000 holding;)

JBmurc
31-01-2007, 05:53 PM
Couple big targets coming up for STX could rerate in a big hurry if successive;) STX-28c even a good punt before spud.



Flint Prospect
Fort Bend County
Texas Gulf Coast

Highlights

- McGall No1 well on the 200 billion cubic feet (bcf) of gas potential Flint
prospect has spudded (28 January 2007- Texas time).

- Strike Oil’s share of gross revenues (that is 25%) could be on the order of
AUD$400 million based upon a 200 bcf discovery and AUD$8.50 per
thousand cubic feet of gas (approximately the current gas price).

- This prospect is the first of 3 very large Gulf Coast gas prospects with
similar reserve potential to Flint, to be drilled in 2007.

- The objective section of the Flint prospect is the Wilcox Formation, the
same formation as Strike Oil’s Mesquite production project.

- A discovery at Flint can be brought on production rapidly due to its proximity
to pipeline infrastructure and access to markets.

The Flint Prospect is located in Fort Bend County, Texas and approximately 2700
acres have been leased covering the majority of the mapped prospect. The well is
programmed to a total depth of 16,500 feet and is likely to take 60 to 70 days to
drill and has a dry hole cost estimate of US$ 6.1 million (AUD$ 7.8 million). Strike
Oil will be funding 33 1/3% at a cost of AUD$2.6 million to earn a 25% working
interest in the prospect. Completion cost of the well is estimated at US$2.5 million
(AUD$3.2 million) of which Strike Oil would be required to fund 25% or AUD$800,000.

The primary objectives of the McGall 1 well are located in the Wilcox Formation
below 15,000 feet (4573 metres). The total resource potential is in the order of 200
bcf of gas.

Strike Oil considers that the prospect is relatively low risk with the order of a 25%
to 30% probability of success. The structure is defined by 3-D seismic control and
three nearby wells one of which has produced 7 bcf of gas from the prospective
section in a separate fault block in the same mapped structure.

The prospect is located in proximity to major gas transmission pipelines and has
ready access to markets providing the opportunity to sell any discovered gas in a
timely manner. Based upon the current prevailing gas prices in the region of
around US$6.50 per mcf (approx. AUD$8.50 per mcf) this could provide Strike Oil
with the order of AUD$400 million in gross revenues based upon its 25% working
interest and a 200bcf discovery.

Flint is the first of three large prospects with similar reserve potential to Flint,
scheduled to be drilled on the Gulf Coast during 2007.

JBmurc
09-02-2007, 05:29 PM
ABN 59 078 012 745
STRIKE OIL LIMITED
Level 9, Wesfarmers House
40 The Esplanade
Perth Western Australia 6000
Phone: 61 8 6464 0400
Facsimile: 61 8 6464 0401
Email: strike@strikeoil.com.au
www.strikeoil.com.au

9 February 2007
Australian Stock Exchange Ltd
Via Electronic Lodgement


WEEKLY OPERATIONS UPDATE
Strike Oil is pleased to announce the following update on drilling activities in the
USA.


Gulf Coast, Texas
Mesquite Project, Webernick 5 well
(Strike Oil, 32.3% Working Interest. Operator, Cypress E&P Corporation.)
Testing of the Frio Formation in the Webernick 5 well is continuing. The well is flowing at around 200 mcf per day at 1240 psia flowing tubing head pressure on a 6.5/64 inch choke. This rate is in line with expectations for this shallow, low cost well.


Flint Prospect, McGall 1 well
(Strike Oil, 25% Working Interest. Operator, Cypress E&P Corporation)
The McGall 1 exploration well was preparing to drill ahead in 12 ¼ inch hole at
4176 feet (1273 metres) on 8 February 2007 (Texas Time) after setting 13 3/8 inch
casing at 4166 feet (1270 metres). Proposed total depth is 16,500 feet (5,030
metres).
The well is targeting a large gas prospect in the order of 200 billion cubic feet of
gas potential in the Wilcox Formation.


Rocky Mountains, Colorado
Tow Creek Prospect, Coal View Unit 31-4 well
(Strike Oil, 37.5% Working Interest. Operator, Comet Ridge Limited)
At the Coal View 31-4 well, attempts to recover stuck drill pipe are continuing.
A productive zone is indicated by the continued presence of oil in the circulating
mud.


Bear River Prospect, Peltier 11-12 well
(Strike Oil, 33.75% Working Interest. Operator, Comet Ridge Limited)
The Peltier 11-12 well is being prepared for testing. A 5 ½ inch production liner
has been run to total depth with 700 feet (213 metres) of perforated pipe set
across three reservoir intervals (the first, second and third benches of the Niobrara
Formation).
Production testing will commence after the work-over rig currently working at the
CVU 31-4 well installs an electric submersible pump, and temporary power and
production facilities have been installed at the surface.
For more information on the Tow Creek and Bear River operations refer to the
ASX release made by Comet Ridge on 6 February 2007 (copy attached).
Strike Oil will make weekly Operations reports each Friday, unless otherwise
warranted, while drilling operations are in progress.

Yours faithfully
SIMON ASHTON
Managing Director - Strike Oil Limited
Further information:
Strike Oil Limited
Simon Ashton - Managing Director
T: 08 6464 0400
E: strike@strikeoil.com.au
Comet Ridge Limited
ABN 47 106 092 577

JBmurc
19-03-2007, 12:40 PM
-STX going cheap atm doulbed my holding at 24c

-Half-year after tax profit 1,011,000
-McGall 1 current being drilled 200Bcf followed by Rayburn 500bcf then Rodeo 200bcf any 1 success will rocket STX sp 50c+.

-Rocky mountains-had problems with the stuck pipe( but otherwise some good oil&gas shows)cost overruns hurting sp of late

-Overall even with the negatives of the stuck pipe,cost overruns STX has alot going for it over the rest of 07 and best of all has 2mill coming into the bank to help cover most of there costs in there high impact drilling campagin

JBmurc
23-03-2007, 10:43 AM
-STX 30c up 6c in couple days;)

-Good Gas shows at McGall- if success 200bcf- 60c+ value to STX easy 80c+ SP-with Rayburn 500bcf,Rodeo 200bcf next anymore success here plus some decent oil flow rates at tow creek/bear river-
STX $2 sp;) this year[:0]

Crypto Crude
23-03-2007, 11:00 AM
shasta put me onto this one...
2007 is going to bring 10 plus drills for STX...
For a market cap of 67million is superb....
although Possible re-raising coming up....
cash at bank getting low....
at as 1-1-07 expected outflowing of expenditure for the quarter was estimated to be 8million...
5million cash at bank....
All revenue streams get spent and NP around a million....
YUP JBM... im with you on this one...
[8D]
.^sc

JBmurc
03-04-2007, 05:40 PM
________TRADING HALT___________;)

what will STX announce soon:

-McGall - Flint Prospect 200Bcf-significant, potentially commercial gas shows from primary target Maybe Shallower zones potentially commercial.

or

-Peltier , Pressure buildup to a sufficient enough level? Are we about to see the release of actual oil flow rates.

or

-Major presentation /placement to insto's/Cap raising.etc

or

-Takeover(not likely)

Come on STX bring me some Easter Cheer

JBmurc
04-04-2007, 04:08 PM
-NEWS OUT-

-8.84m raised by 34mill STX shares placement to insto's-

-Latest presentation looks very impressive $1+ this yr looks very likly on the back of alot of the future drilling program-With extra Cash moving forward the Rayburn spud date 500Bcf.;)

Would be buying more if I had the spare funds

Crypto Crude
04-04-2007, 05:31 PM
quote:JBmurc Would be buying more if I had the spare funds

paper trading this stock could make some savage returns...
currently my funds are held up elsewhere... Prob be on my high priority list otherwise...

as I said here on the 23rd that cash at bank was low, and a capital raising/placement was on the cards...
plently of cash here now....

low market value for the amount of forthcoming drills alone... also, gas discoveries...
and awesome prospects...

you heard it hear first from RBM...
[8D]
.^sc

shasta
05-04-2007, 09:30 AM
I've seen & researched enough of STX, i'm in!

Shrewd - I sold down some NZO & locked in some profits, was overweight in it anyways & part of my move to ASX stocks.

Disc: Holding DYL,NWE,NZO,STX,URA

I.T.Ancient
05-04-2007, 01:01 PM
Yes thanks for this JBM, I'm in too. Adding to my mixed bag of resources: ADY, WID, BHP, SMM, PPP, NZO, ATR

JBmurc
16-04-2007, 05:36 PM
-well who else is miffed by the current selling pressure on STX down to 26.5
your'd think they had no gas shows or an ongoing company making drilling campagin

-the Depth looks plain awful 1.6m shares on the ASKS just to get back to 29c-30c range with only 800k in total on the bids[}:)]

-to top it off COI is up 7%

--Not selling my STX shares just because these foolish holders are now getting weak at the knees;)

shasta
16-04-2007, 06:06 PM
JBM

IT would be foolish to sell any STX, given the 2007 drilling program has the potential company makers in the 2nd half of the year, based in the US.

I would have though COI & STX would basically track each other given there joint prospects?

I would see STX < 30c as an entry point/top up opportunity & i will look to add to my holdings, funds permitting.

Weird thing is Comet Ridge report in US dollars & therefore should be at the mercy of the high dollar & are due royalties this quarter!

I havent seen anywhere where they hedge, so COI going up the day we hear the dollar is at a 2 year high v the $US, & STX going down doesnt make much sense, unless its some profit taking from the recent placement.

Am sticking with both STX & COI regardless.

Crypto Crude
27-04-2007, 12:46 AM
stx falling away lately...
looking at sp chart graph has resistance at 20cent range over the last 15 months...
bounces off 20cents seems to track back down...
entry time gettin close one feels...
shasta, i have one investment to make when i get back from holiday, stx one of my top three picks at the moment...

anyone know why this one has fallen from 30cents to 21.5
[8D]
.^sc

shasta
27-04-2007, 05:01 PM
Mcgall a 200BCF target was a duster, also the company made a placement at 26c recently.

I think its just a knee jerk reaction from the market, they have a very busy drilling program Q3 & Q4 this year.

They are about to drill Duncan-1 part of the Rayburn 500 BCF target in the US.

Am looking to add more STX Shrewdy.

JBmurc
18-06-2007, 03:04 PM
been buying up of late watch STX rerate if current good gas shows turn up a commercial 500Bcf Gas find 30c soon get them while ya can

JBmurc-holding 135,000 STX av 23c

Crypto Crude
18-06-2007, 03:13 PM
JBM...
STX is real similar to Target in the fact that they are drilling in the same region...
but STX have much larger targets huh...
id give up bigger targets for more certaintly
still watching this one...
lata...
[8D]
.^sc

JBmurc
19-06-2007, 12:03 PM
yeah TEX has alot going for such a small Mrktcap ,was trying to buy a small holding at 16.5c(which I nearly got) until I found out they had long dated opts[:p]had a couple go's at 6c but keeped getting rejected by E*Trade for placing a bid to high to the last sale think it was 5.2c even though the first sellers were at 6c[:p]

-ended up buying more STX with the funds -my targets $1 sp

Buzz_Lightyear
22-06-2007, 02:14 PM
Can someone tell if it is one person doing one big amount of buying in this stock today or a multitude of buyers. Seems to be a lot of 100k parcels, or combinations going through?

JBmurc
29-06-2007, 11:22 AM
I'd say its alot of smart buyers that know STX has been hugely undervalued in June with current bargin buying from tax-loss sellings making it easy to take up larger stakes in the company without driving SP to far-- Once July's underway 30c easy
If there current 500Bcf Rayburn comes up trumps(Very confindent it will be commercial) 80c+




JBmurc-buying lots of cheap STX in June av 23c -135k

JBmurc
04-07-2007, 01:01 PM
Zones of interest with elevated gas readings were drilled during this reporting
period and will be evaluated by wire-line logging after the well has reached total
depth, around 16,500 feet (5,030 metres). These zones of interest are in addition
to the potential pay zone previously reported in the shallow Wilcox section and
which is now secured behind casing for flow testing at the completion of the well.

At the time of reporting (3 July 2007, Texas time) the well was drilling ahead at a
depth of 15,105 feet (4,604 metres). At current drilling rates the deep target
objectives are likely to be intersected within a week.

;)

ELYOB
04-07-2007, 09:30 PM
JBmurc all that gas farts was/were reported ages ago , wires didnt show up much. This is not exciting yet . All a big punt now . Good luck to the brave .

JBmurc
05-07-2007, 10:23 AM
we will see ELYOB the main targets not far away risk 18c reward 60c+ ratio looks fine to me STX isn't a one hit wondar
I see that dog name DIO ended up being a greyhound;)

JBmurc
11-07-2007, 07:58 AM
should know tody if the Rayburn is a success

Ricky99
11-07-2007, 08:10 AM
here's hoping. it has seemed a very long road to get here. The last 12 months has not been that rewarding for shareholders or staff I would have thought so hopefully lady luck will bless us today and we will have a bit of good news!

Dazza
11-07-2007, 01:00 PM
im another hoper ...

JBmurc
11-07-2007, 01:30 PM
Well its not a bad update sounds overall postive till more is know from wirelogs & flow tests

OPERATIONS UPDATE
Strike Oil announces the following update on activities in the USA.
Gulf Coast, Texas
Rayburn Prospect, Duncan 1 well, Wharton County
(Strike Oil: 22.8% working interest. Operator: Cypress E&P Corporation)
• Duncan 1 successfully drilled to Total Depth
• Middle Wilcox zone to be production tested
• Decision to test Lower Wilcox zones to be made after wireline logging
The Duncan 1 well has been successfully drilled to test the Rayburn Prospect in Wharton County, Texas.
At the time of reporting (10 July 2007, Texas time) drilling had been completed at a total depth of 16,030 feet (4,886 metres). Current activity was preparing to run wireline logs in the open 6 ½ inch hole drilled in the Lower Wilcox section, to evaluate a number of intervals of interest with elevated gas readings.
Plans are underway to production test the previously reported, wireline log indicated, gas pay within the Middle Wilcox section which is already secured behind casing.
A decision to test any of the zones of interest in the Lower Wilcox section, below the existing casing, will be made once wireline logs have been evaluated.
Commenting on the results, Strike Oil’s Managing Director, Simon Ashton said:
“Confirmation of a discovery at Duncan 1 by testing, will give Strike Oil a second producing asset and a fifty percent exploration success rate (2 out of 4) in its deep Wilcox, Texas Gulf Coast drilling programme, an exciting result given the portfolio of deep Wilcox prospects being lined up for future drilling .”

JBmurc
15-07-2007, 04:39 PM
increase in substantial shareholding by Acorn Capital to 8.15%....acquired over last 2 months

JBmurc
16-07-2007, 08:57 PM
quote:Originally posted by Shrewd Crude

JBM...
STX is real similar to Target in the fact that they are drilling in the same region...
but STX have much larger targets huh...
id give up bigger targets for more certaintly
still watching this one...
lata...
[8D]
.^sc



Be a real good time to have a closer at STX- shrewd
""Duncan shaping well as a possible producer"" even if its half the size prediced STX will still double from here.
I see there's a 600k buyer at 25c ;)

JBmurc
16-07-2007, 09:01 PM
16 July 2007
Australian Stock Exchange Ltd
Via Electronic Lodgement
DUNCAN 1 - ADDITIONAL GAS PAY IN THE LOWER WILCOX SECTION TO BE COMPLETED FOR PRODUCTION TESTING
Strike Oil is pleased to announce the following drilling update on the Duncan 1 well in the Texas Gulf Coast.
Rayburn Prospect, Duncan 1, Wharton County
(Strike Oil: 22.8% working interest. Operator: Cypress E&P Corporation)
Following the successful drilling of the Lower Wilcox section in the Duncan 1 well, some of the target intervals of interest which had elevated gas readings have been confirmed on wireline logs as further gas pay and are to be completed for production testing.
Plans are now underway to complete the well for production testing of the new pay zones in the Lower Wilcox, before production testing the previously reported gas pay within the shallower Middle Wilcox section already secured behind casing.
The well has confirmed a trapping structure at multiple levels in the Wilcox Formation.
The reserves potential of the pay zones in this well, and over the larger associated structure, will be determined by the planned production testing program and further development drilling.
The production testing is planned to commence following completion of the well.
Commenting on the results, Strike Oil’s Managing Director, Simon Ashton said:
“The production testing of these deeper gas pay zones, coupled with the shallower gas pay, is anticipated to provide an early improvement to cash flow. This could be further increased by near term development drilling on the extensive lease position, the order of 10,000 acres, held over, and adjacent to, the structure on which the discovery has been made. In addition, planned exploration on new Wilcox prospects currently being lined up for future drilling could further enhance Strike’s production position”.
Yours faithfully
SIMON ASHTON
Managing Director - Strike Oil Limited

JBmurc
21-07-2007, 03:30 PM
Qtr report out-Total revenue for oil&gas sales -8.7million;)
-Kingston lignite 100% STX 528mt measured resource[?]value to STX
-5 more wells planned to be drill before the end of 07
-Duncan#1 flowtest soon[?] muti completion well TCF's more drills soon
-Complete FEED study for Rivoli gas field-Carnarvon Basin
-florence STX increase interest to 39% drilling late 07

STX- Mrktcap-78m

shasta
22-07-2007, 10:16 PM
JBM

Looks like i'll need to be back in STX before Duncan-1 is flow tested.

Looks like a good home for some NZO profits...

JBmurc
23-07-2007, 09:03 AM
Good idea shasta can't believe STX current SP
Have been thinking about selling down a small share of my PPP holding myself PENO at 3.9c look a solid med-term buy

JBmurc-holding truckloads of STX 50c min this yr

JBmurc
24-07-2007, 08:46 PM
Date of lodgement: 24-Jul-2007
Title: Open Briefing®. Strike Oil. Strategic Update on US & Australian Prospects

Record of interview:
corporatefile.com.au
Strike Oil Limited (ASX code: STX) is presently completing for production
testing the Duncan-1 well (STX: 22.8%) on the Rayburn Prospect in the Gulf
Coast of Texas, where you have highlighted, pre drilling, a prospective resource of
500+ Bcf of gas. Do the results received to date support your estimations? How
are these results driving your ongoing exploration and development program in the
area? What is the potential of the project to Strike?
MD Simon Ashton
It is still too early to make a reasonable estimate of the potential size of the
resource but we are excited about the discovery based upon the drill results we’ve
received to date. It has significant gas pay zones based on drill cuttings, gas shows
and wireline logging. We have now confirmed the presence of a large structure
with interpreted gas pay at multiple levels.
The pay zone in the Middle Wilcox level is interpreted as excellent quality; clearly
defined on seismic and of a scale potentially greater than our Mesquite Project
interest. The pays in the Lower Wilcox are not as high quality and not as well
defined seismically but still expected to flow at commercial rates and are
associated with a very large structure. Adjacent wells in nearby fields producing
from similar horizons have initial flow rates in excess of 10 million cubic feet per
day. The potential will be evaluated with the flow testing of the well within the
next few months and further development drilling as warranted.
Evaluation of initial capital works on the production facilities and pipeline to the
regional transmission line is underway.
corporatefile.com.au
The company maintains interests across several Gulf Coast prospects. Can you
summarise the key milestones to date? What are your future drilling plans? What
are the risks?
MD Simon Ashton
Strike is in the fortunate position of having a revenue stream. Financially, we have
increased our sales revenues from A$3.6 million in 2005/06 to A$8.6 million for
the financial year ending June 30 2007. This is due largely to our US interests in
the Gulf Coast and, in particular, the Mesquite discovery. The other milestone is
the current Rayburn discovery which, although not yet on production, we are
confident will generate significant and increasing cash flows in the 2007/08 year
and we are forecasting sales revenues to increase to greater than A$10 million for
the coming year.
We have now drilled 4 deep exploration wells in the Gulf Coast since mid 2006 (3
of which tested the Wilcox Formation) with 2 successes in the Wilcox giving us an
overall 50% exploration success rate and two out of three in the Wilcox wells.
This indicates that the technical risks are relatively low and we have a good
portfolio of these low risk prospects at various stages of maturity to ensure a
continuous flow of exploration drilling.
With the Rayburn discovery, the Gulf Coast drilling program is being reviewed to
optimise returns and we will announce the forward program when it is clarified by
the operator.
corporatefile.com.au
At the Florence Project (STX: 39%) in the Rockies (USA) you are in the process
of acquiring a 3D seismic survey. What is the timing to completion of the survey?
In a mature field, why is it necessary to acquire this information to plan a drilling
program? What are your plans?
MD Simon Ashton
The survey has been completed and we will now process and interpret the data and
integrate it with the existing adjacent 3-D seismic and well control. The survey is
aimed at better defining sweet spots associated with fracture systems in the
existing shallow production areas and defining prospects in the deeper formations
which remain largely unexploited and known to be productive elsewhere in the
area. Once all the data is mapped and prospects generated, we will commence
drilling, probably later this year.
corporatefile.com.au
You have completed two

shasta
24-07-2007, 08:55 PM
I've found a home for my NZO funds & she's called "Strike Oil"...

I don't want to be out of this when the Duncan-1 ann comes out...

I don't think it's anywhere as big as first touted, but i think it will kick STX into gear!

If JBM & Si thinks it's a goer, thats good enough for me!

Dazza
24-07-2007, 09:35 PM
welcome to the fold lol

ive been in stx since last year so about 8 months now, my avg is 30 cents

so im still in the red

but im looking to sell out on any positive news eh.

will buy prob more ROC , if the first drill results are not that great in angola

oil is only roc/coe/psa/stx/nzo

wont be selling any nzo/roc/psa

coe and my stx are my sellers

JBmurc
24-07-2007, 10:06 PM
If you do sell Dazza don't look or read anything about STX after you sell your be gutted at where there at 6months from now. ;)

what did you sell your EKA at

JBmurc
25-07-2007, 07:16 PM
Another major holder to the STX list-Plato Prospecting Pty Ltd 5% purchased most of there shares over the last couple months.

-other major holders
CALM Holdings Pty Ltd 6.10%
Acorn Capital Limited 8.15%
JBmurc ;)

shasta
25-07-2007, 07:29 PM
Im afraid Shasta isnt one of those holders...

Dazza - I was in Strike a while back & will be again real soon, maybe T - 1 day!

Dazza
25-07-2007, 10:04 PM
jb - sold ekao for umm 25 cents and 18 cents, brought for 7 cents :D

stx....... mmmmm im patient then lol

my big bad oil play was AED!!!!!!!!!

sold on friday for 2 cent loss, to see it come out on monday with news man, i was like fork

sold at like 1.50

and missed the massive rises afta

leonchai
26-07-2007, 06:56 AM
If the rayburn prospect turns out to produce 10 million mmcfd as implied by their recent press release, then the revenue generated will be similar to their mesquite project (8.5 million mmcfd), at arount 0.5 million/month, or 6 million a year, or 2 cents/share/year only. Are these figures correct?

Just trying to figure out a conservative baseline valuation for STX...
What do you value STX at if the rayburn turns out to be a non-producer?

Ricky99
26-07-2007, 02:11 PM
22.8 % gives us 2.28 mmcfd at $6 a mcf gives us about $13k US a day so yep about a half mil a month.

The thing here is that it is coming out of one well, so not 3 - 4 at Mesquite. With potential for additional drilling it could be a winner

JBmurc
08-08-2007, 06:06 PM
-Weekly ops out today although very brief was revealing in that the Rayburn gas discovery is under review.-I'd say STX will be drilling a couple more in close to this lastest discovery-market seems to be slow to pickup the postives should be over 30c IMHO

-"Gas transportation and sales agreements are being finalised." Can't get more postive than that-flow rates will hopefully surprise the market

-side track at TOW CREEK to commence this week(damm stuck pipe),with the original drill intersecting 75m of oil&gas shows -Target 200k to 500k bbl oil -37.5% STX

JBmurc
09-08-2007, 03:00 PM
had to buy more at current prices too many postives in the pipeline for STX with the strong managerment to back it up.

-IMHO I'm positive that STX will have more success at Rayburn(more drills 2-3 successive 10mmcfd finds)maybe even mut finds at each
which without doing any numbers STX would be rerated towards $1sp when the market falls back into favour with STX(remember the 45c highs it reached last muti drill success)

then don't forget the other 4+drills this year plus,Kingston coal,Florenc,coal veiw side track,Bear river Performations(increase flows),complete FEED study on the Rivoli Gas.


-Overall upwards of 10 more drills by mid 2008 for STX

JBMURC-now holds 194k STX

JBmurc
04-09-2007, 07:43 AM
Australian Stock Exchange Ltd
via electronic lodgement
BOARD APPROVES US$15 MILLION GULF COAST DEVELOPMENT PROGRAM AND A$10 MILLION ENTITLEMENT ISSUE
Following the successful drilling results from the Duncan 1 well on the Rayburn Gas Discovery, onshore Gulf Coast, Texas the Board of Strike Oil Limited has approved a US$15 million (net to Strike) expanded drilling and development program.
The drilling program, scheduled to commence in October 2007 and planned over a 12 month period, includes six new primarily development wells targeting the gas pay zones penetrated in the Duncan 1 well on the Rayburn discovery. A few of the wells are expected to be combined development and exploration wells with offset exploration targets on the large Rayburn Prospect (500 Bcf) and other wells may include further exploration drilling from the Canyon (20 Bcf), Rodeo (240 Bcf) and Flint (40 Bcf) prospects.
Revenues from a successful development drilling program are expected to increase Strike Oil’s current income stream from US$8.6 million in 2006/2007 to more than US$20 million in the 2008/2009 year and place the Company in a cash flow positive position.
In addition to the approved drilling and development program and following finalisation of key agreements for surface facilities, transport and gas sales and the installation of facilities the initial testing of the Duncan 1 well is planned to commence in early September. The development drilling of the shallower Wilcox pay interval in the Duncan 1 well is planned for October 2007. The rapid installation of production facilities will enable initial test gas and subsequent production to be sold immediately.
The Company expects to fund its US$15 million share of the proposed drilling and development program from its existing cash flow from the Mesquite Project, new revenue from Rayburn development, a possible small debt facility and a A$10 million entitlement issue, details of which will be announced in the next week

JBmurc
08-10-2007, 02:24 PM
Unlike a lot of the junior petroleum plays, Perth's Strike Oil has already hit it big. A few years back, it banked $23.5 million from selling out of the Casino gas discovery in the Otway Basin off Victoria to a Santos/AWE/Mitsui consortium.
But like a host of other Australian juniors, Strike has since turned its attention to the US.

The US is hardly an underexplored petroleum province. While Australian oil production peaked in 2000, American production reached its peak 30 years earlier and has been declining ever since.

Short of protected areas of Alaska and the ultra-deep waters of the Gulf of Mexico, there probably aren't a lot of big fields waiting to be found in the US.

But that hasn't stopped Australian juniors from looking for profitable small finds in well-known petroleum provinces like Texas, Louisiana, Oklahoma and California.

Strike already has interests in two commercial discoveries in Texas. Now an American joint venture partner is about to start flow testing at the Rayburn gas discovery, which has the potential to hold up to 500 billion cubic feet of gas. Strike will receive about 17 per cent of the revenues after taxes and royalties, which could be worth up to $425 million, or $1.52 a share, depending on the ultimate size of the discovery. The company is seeking to raise up to $10 million from an entitlement issue at 21.5c a share to help expand its production base.

Lots in the US

But given there are about 40 Australian junior petroleum companies - including bigger plays like Petsec Energy and tiddlers like GulfX - scouring the US for oil and gas finds, it can be hard for investors to separate the wheat from the chaff.
The Intersuisse analyst Paul Gooday notes a lot of the companies have only a small working interest in the projects, leaving the hard work up to American operators.

"They might get a bit of a run with gas shows but some of them haven't been able to complete the wells successfully," he says. "I haven't seen the market really fall in love with these."

Even Strike's managing director, Simon Ashton, admits these juniors are bound to fall by the wayside.

"We will see consolidation, no question" he says, adding it doesn't seem sustainable to have 40 or so Australian companies competing for the same investor attention.

Earlier this year, Patersons said the US energy sector was arguably the most competitive in the world.

"We believe it remains difficult for Australian companies to acquire assets inexpensively," the broker said. "[It] makes it difficult to generate substantial cash if prospect sizes are modest."

The Fat Prophets analyst Gavin Wendt rates Salinas Energy as a standout among the US-focused juniors since it has obtained direct entry into projects, rather than farm-ins or earn-ins.

"This has allowed it access to high-quality oil acreage under better terms, where it is the operator and can effectively control its own destiny," he says.

Gone to Italy

Given the fiercely competitive nature of the US petroleum sector, some Australian juniors have decided overseas bonanzas lie elsewhere.
Deltana Energy, a company with projects in Italy's gas-filled Po Valley, is seeking $12 million to $18 million to list on the Australian Securities Exchange.

Although it's game plan sounds very similar to another successful Australian junior, Po Valley Energy - and Deltana's managing director, Geoff Bone, admits to "emulating them" - there's no relation between the two companies.

It's not as if Deltana couldn't have grabbed some US prospects. Bone has plenty of American contacts from his days working in the Middle East.

But given gas prices are actually higher in Italy than in the US, Deltana is holding off on any potential American ambitions.

JBmurc
27-11-2007, 01:04 PM
Looks like us STX holders may be getting a nice Xmas present in some good flow rates


like 10-20 mmcfgas- perday+ please




http://www.strikeoil.com.au/documents/2007_11_27_Operations%20Update_Rayburn.pdf

I.T.Ancient
06-12-2007, 02:06 PM
Sounds as if we'll hear about the flow rates and the new well will reach target depth just after Xmas.

JBmurc
12-12-2007, 06:37 PM
Duncan 1 is currently flowing at commercial rates comparable to other nearby wells which from there recent ann report was 10 MMcf /pd
IMHO STX's should be looking at 4.5-5MMcf/pd from D1-D2 on there 22% interest



Florence Project in Colorado which will start early in 2008.(off HC)

Andy Lydyard (COI) said today in an Open Briefing Interview that the exploration target (from the Pierre Fmt. only) is around 200,000 bbls per well which are worth over $17 million based on current oil prices. The wells have further upside because they have five additional objectives.

They will start with an initial 3 well program but currently permitting 10 wells, and have an inventory of over 50 more locations that could be drilled.

shasta
27-12-2007, 12:46 PM
Duncan 1 is currently flowing at commercial rates comparable to other nearby wells which from there recent ann report was 10 MMcf /pd
IMHO STX's should be looking at 4.5-5MMcf/pd from D1-D2 on there 22% interest



Florence Project in Colorado which will start early in 2008.(off HC)

Andy Lydyard (COI) said today in an Open Briefing Interview that the exploration target (from the Pierre Fmt. only) is around 200,000 bbls per well which are worth over $17 million based on current oil prices. The wells have further upside because they have five additional objectives.

They will start with an initial 3 well program but currently permitting 10 wells, and have an inventory of over 50 more locations that could be drilled.

Very nice ann out with 3/3 Gas shows in the Duncan-1 drills, looking good & the next drill (some 3km away from Duncan-1) will determine if this is a large accummulation & bigger than first thought.

Am looking to re-enter STX, like yourself JBMurc i rate STX with plenty of upside at these prices.

JBmurc
27-12-2007, 06:40 PM
Yeah to right tricha have just brought another 45,000 total 195,000 looking forward to the market wake up early 2008 STX will have alot of new cashflow very soon Top Managerment.(also see some big buyers starting to look again one 700k order pulled trying to get in cheap)


STX-40c-50c short term min

JBmurc
03-01-2008, 11:15 AM
big orders chasing the weak sellers atm 31c 400k bid hope you guys got a truckload recently will be rerated very soon

bermuda
03-01-2008, 01:06 PM
big orders chasing the weak sellers atm 31c 400k bid hope you guys got a truckload recently will be rerated very soon

Picked STX to perform in 2007.As the cash gets 'proven' this company will fly.Good luck to holders..you will have a good year.

Awamoa
30-01-2008, 07:04 PM
This company may be one to watch.
It has announced today that its Rayburn field has gas and oil reserves with expected revenues of $2 million
per month by mid 2008.
The share price has lifted to 28.5 cents and should have more mileage yet.

Huang Chung
30-01-2008, 07:52 PM
Revenue of $2 a month is a touch disappointing IMHO.....$2 million a month would have been much more impressive. :D

I.T.Ancient
31-01-2008, 09:27 AM
I can't believe this is still trading below 30c. We already know that HD1 is going to add something to the numbers. Might have to break my self imposed 'don't buy before August' rule.

JBmurc
31-01-2008, 06:44 PM
STX Ann looks great 24m+ nett profit for 08 -P/E-3ish??????(is only the start to many more solid earnings for this well run company) to bad the market doesn't seem to care still come july-Aug 08 I believe there be some more strenght back into the marketplace once all the investors get over there current fearfull outlook and see the skys not falling .

JBmurc
10-02-2008, 09:50 AM
-great post of HC----overall outlook for 2008



* HD1R may will give us a first indication of the size of Cypress Eagle Field and it could be massive

* Test results from D2 and particularly GF1 (additional pay zones from the upper wilcox) could surprise

* expansion of the develpment and exploration (i. e. Rodeo) drilling at the Gulf Coast - additional licencing of new prospects and acres

* we will have the spud of the 10 mmbbl phi prospect later in this quarter (and perhaps a second well back-to-back)

* we will have the start of the Florence project with three initial wells later in this quarter (if the Florence project is successful it could turn to "the" cash-engine for both STX and COI)

* short term I expect a farm down of the Rockies projects and a free carry for some of their activities

* therfore a resumption of the prospective Tow Creek / Bear River projects is likely

* perhaps they will farmin to the Grays Harbor projects

* ... and they have to find a (shallow water) Rig solution for the Rivoli project by the end of the year and this should bring some new perspectives for the carnavon basin permits



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

-I see in my lastest Oil jnr weekly-JC states - Baniyas 60mbbls-is planned to be drilled this year for this year.
-Very short term I could see STX having the large Rayburn project flowing over 40mmcf pd of GAS and over 1000bbls con oil per day with futher development to come
-they also have a 15% interest with BPT on a couple drill in the cooper basin
-there orginal 3 drill find at- Mesquite -also had futher development potential(I guess with STX having so many great prospecs ongoing its going be looked at in 09)

-Like I've said before STX has a $1 SP in its sights - it;s only a matter of market sentiment to base SP on its fundamentals once again hopefully sooner 08 rather than later 09

JBmurc
07-03-2008, 06:57 PM
-Post off HC-Great overview of what STX's has going on atm certainly think STX(like PSA)are in the right market(US GAS energy market)If the US is DOOMED I'm sure people would still like to keep warm

Just to kill time of wating ...
a short view on STX Agenda for the next four months:

* HD-R1 (seems clear for everbody):

- The Cook Mountain Formation could be a new discovery; they reported "substantial gas shows" at HD1 and SA announced that they will run wireline logs before they drill ahead to primary objective "Middle Wilcox Fmt."Results are pending, perhaps on Wednsday

- If HD-R1 has results comparable to D1, D2St1 and GF1 at the "Middle Wilcox" then the Cypress Eagle Field will be a "Giant-Discovery" in order of multiple of hunderts of bcf (eventually up to the TCF area if the deeper "Lower Wilcox Fmt." proved to be commercial)

* Duncan #3 will be the fifth Rayburn well

- In the meantime drilling of D3 is "approved" and spud could follow immediately after completion of HD-R1. D3 will extend the field development to the south.

* More Rayburn development wells are announced

- Depending on success we could have up to 10 to 14 wells at the end of the year.

- Wells in adjacent Wilcox fields have the order of 5 to 10 bcf per well; therefore we could have 50 to 100 wells at the Rayburn prospect if we have a dicovery in the order of 500 bcf.�The current Duncan #1 production rates eaquates to cross revenues about 3 mio. A$ per month.

* Confirmation of of flowrates of D2St1, GF1, HD-R1, and perhaps D3 should be possible in the next 4 months



* Cooper-Basin (ATP-633P) (STX 15%)

- Two oil - wells in the first halfyear with BPT.

- Prospective Resource at "Phi" is 5-10 mmbbl;�
at "Phi South" 3-5 mmbl.

- 1,5 mmbbl (based on a 10 mmbbl discovery) would have a market value for STX of around 160 mio. A$ - which would be a two fold of the current MC.


* Florence (STX 39%)

- The program will start in March/April - currently there are three wells in a "drilling permit application" status(Golden 33-20, Apache 33-20B, Rainbow 33-20)

- All of this wells are targeting the "Pierre Formation" with a oil potential of 200,000 bbl each (Golden will also testing the Niobrara Fmt.)

- A well in a adjacent lease (Javernick Oil's "Royal Gorge #1") is flowing at a rate of 100 bbpd from der Pierre Fmt. since Feb 2005.

- The Florence wells will have up to 5 additional target zones.

- COI has plannend a 10 well program at Florence in the first year but they have up to 50 more drilling location afterwards. Each well takes only 10 days for drilling and completion.

- From the December - CoperateFile - Interview with Comet Ridge's MD Andy Lydyard:

Q: "[...] why do you belive that your Florence project can add significant value for shareholders when the exploration targets are generally only around the 200,000 barrel mark?

MD Andy Lydyard:
"This question has been rised a couple of times after our recent AGM. The exploration target per well is around 200,000 barrels. At this point in time we are permitting 10 wells, but have an inventory of over 50 more locations that could be drilled if the inital round of wells proves successful. By the way, the 200,000 barrels is worth $17 million based on current oil prices. Also the 200,000 barrels only adresses potential oil in the Pierre Formation. We have five other objectives at Florence including the Niobrara and Sharon Springs (fractured shales) and Codell, Dakota and Lytle sandstones. These targets are very lightly drilled and offer significant upside potential. If successful, these are highly economic wells offering significant cash flow to the company.

Beyond the Florence project specifically, the 3D seismic we acquired earlier this year has provided us with unique insight into the controls on production in the old Florence field. This has lead to Comet Ridge's technical team developing a new geological concept that is potentially applicable up and down the Rockies. Florence, as with all of the plays we pursue, is part of a bigger picture, namely developing a tool set that provides the Company with a competitive advantage over a large area."

- STX holds around 9% of Comet Ridge.


* Tow Creek (STX 37,5%) / Bear River (STX 33,75%)

- COI is actively seeking a partner to drill two wells (i.a. a second sidetrack for CVU 31-4) - a "farmdown" is probably in short term; perhaps drilling starts at the end of Q2.

- In particular the "Coal View 31-4" well at Tow Creek was very encouraging - COI reported:
"stong oil- and gas shows recorded over fractured intervalls within the Niobrara in both the original well bore and sidetrack" and
"significant oil and gas shows in fractures in the target Niobrara Fmt. These shows warrant another attempt to drill and complete the well".


... all these activities in the first halfyear 2008 ...

I think STX needs more PR - 'hope that Simon Ashton will meet the press and the brokers soon ...

JBmurc
11-03-2008, 09:35 AM
well my two biggest ASX holdings STX,PSA both in the US both have a massive 08 install be it through there successive drilling program STX or there large GAS production yet sadly they are both getting sold down like they don't have any cashflow.

-STX have D1 success 10mmcfpd, D2 and GF1 with a very high chance of success and HD-R1 on her way into Cook mountain and mid/lower wilcox also looking probable as yet another success -so in all the RAYBURN area could well be flowing 40mmcf per day and have a reserve of over 400bcf (value to STX $1+)

-STX sp 22.5c downside 18c upside $1

Am currently looking at increasing my 227,000 stx holding alot today this will mean I'll only hold PSA,STX,PENO on the asx NZO,PPP nzx

-What's your guys views -mine sellout of more specie share holdings focus on core undervalued cashflow&development rich core holdings

brettdale
11-03-2008, 09:40 AM
STX is probably my biggest hope at the moment, I got burned so much on RAU, that i was scared for a while of investing in anything.

But I love the look of STX.

JBmurc
11-03-2008, 09:48 AM
STX is probably my biggest hope at the moment, I got burned so much on RAU, that i was scared for a while of investing in anything.

But I love the look of STX.

I'm sure alot of sellers do aswell but as they will have many outside pressures to sell(higher morg payments,Margin calls,stoplosses )
It is now time to be GREEDY while many are fearful

JBmurc
12-04-2008, 05:09 PM
2m revenue per month by june 08 looking very likely for STX going forward 4m-6m per month only time will tell, personal glad to keep a core portfilo holding in STX -50c min this yr

USA AND AUSTRALIAN PROJECTS
OPERATIONAL UPDATE
Strike Oil is pleased to provide the following report on its Gulf Coast Rayburn drilling and testing programme and its Cooper-Eromanga Basin drilling programme.
RAYBURN
• Duncan 3 preparing to drill ahead at 7,910 ft ( 2,411 metres)
• Duncan 2 ST production flow testing proceeding in line with expectations
• Gilbert Freeman 1 test underway
COOPER - EROMANGA BASIN
• Currumbin 1 drilling ahead at 1,473 metres

JBmurc
16-04-2008, 07:34 PM
USA AND AUSTRALIAN PROJECTS
OPERATIONS UPDATE
Strike Oil is pleased to provide the following report on its Gulf Coast Rayburn drilling and testing programme and its Cooper-Eromanga Basin drilling programme.
RAYBURN
• Duncan 1 continues to flow at 10 MMCFD and 260 BCPD
• Duncan 2 ST and Gilbert-Freeman 1 testing underway
• Duncan 3 preparing to drill ahead at 9,568 ft ( 2,916 metres)
• Hlavinka Duncan 1 test to begin shortly
COOPER - EROMANGA BASIN
• Coolangatta 1 well spudded this week
RAYBURN PROJECT – WHARTON COUNTY
(Strike Oil 22.8% Working Interest; Operator Cypress E&P Corporation)
Duncan 1
The Duncan 1 continued throughout the week to produce at approximately 10 million cubic feet of gas per day and 260 barrels of oil-condensate per day.
Duncan 2 ST, Gilbert-Freeman 1 and Hlavinka-Duncan 1R
Testing is currently underway on the Duncan 2 ST and Gilbert-Freeman 1 wells. Testing of these two wells is proceeding as expected and will continue over the next 30 to 40 days before stabilized flows can be reported.
Testing of the Hlavinka-Duncan 1R well is expected to begin shortly.
Strike Oil Limited
ABN 59 078 012 745
Duncan 3
A 7 5/8 inch liner has been set at 9,568 feet (2,916 metres). Current operation is preparing to drill ahead in 6 1/2 inch hole.
The well is located approximately midway between the Duncan 1 and Duncan 2 wells. It is targeting the same Middle Wilcox pay sand encountered in Duncan 1 and 2 wells and Gilbert Freeman 1 well. Proposed total depth is 12,200 feet (3,719 metres).
ATP 633 P - COOPER-EROMANGA BASIN, QUEENSLAND
(Strike Oil 15.00% Working Interest; Operator Beach Petroleum)
Coolangatta 1
The operator of ATP633P, Beach Petroleum has advised the rig has been mobilised to the location of the Coolangatta 1 exploration well. This well spudded on 15 April 2008 at 12:30pm and is currently drilling ahead in the surface hole.
The Coolangatta 1 well will test the oil potential of the Jurassic interval within a simple anticlinal closure approximately 18km northeast of the Munro Field, 12.5 km southeast of Wills East-1, 16.5 km southwest of Phi North-1 and 14 km south of the Tickalara Field. The prospect is defined by the 1 x 1 km 2007 Gukithi 2D seismic survey.
The objectives are the Murta Formation, Namur Sandstone and Hutton Sandstone which has been proven to be oil prone within the area. The primary objective, the Namur Sandstone, has a probabilistic mean resource of 0.65 million barrels of oil with a deterministic upside of 5.7 million barrels of oil. The well is programmed to drill to 1,387 metres.
Currumbin 1
The Operator, Beach Petroleum, has advised the Currumbin 1 well has been plugged and abandoned.

brettdale
16-04-2008, 07:48 PM
I read this as Good news, a lot of testing ahead though, but this company is very good in keeping investors informed.

JBmurc
18-04-2008, 06:51 AM
-Yet another steller Qutr for STX cash at bank atm being the only small downside(big cash spend atm) as more production comes over the next couple months there cashflows should start to turn postive,I'm certainly not selling 1 share under $1 market will wake up to STX later in the year once Rayburns many well are producing

HIGHLIGHTS FOR THE QUARTER
• Oil and gas revenue for the quarter was $3.48 million, up 118% on the previous quarter.
• Gas production was up 72% for the quarter and oil condensate production increased by 128%.
• Production facilities and pipelines completed at the Rayburn project.
• Timetable set for approval and development of Rivoli gasfield in the Carnarvon basin.


SUBSEQUENT TO THE END OF THE QUARTER
• Testing and production from Duncan 2 and Gilbert Freeman 1 wells commenced.
• Two well drilling programme in ATP633P, in the Cooper-Eromanga Basin commenced.

Successful development operations at the Rayburn project have resulted in Strike Oil reaching record production revenues for the quarter. These revenues are expected to continue to increase substantially into the next quarter as more wells at Rayburn are tested and brought into production through the recently installed production pipeline infrastructure. The increased cash flows will help facilitate the funding of the Rayburn development and ongoing projects in USA and Australia.



NEXT QUARTER ACTIVITIES
• Complete the drilling of the Duncan 3 well at the Rayburn project.
• Complete the flow testing of the Duncan 2 ST 1 and Gilbert Freeman 1 wells on the Rayburn project, Texas, directly to sales.
• Flow test the Hlavinka Duncan 1R well.
• Drill at least two more development wells at the Rayburn project.
• Commence drilling at the Florence project, Colorado, based on the recently acquired 3D seismic data.
• Complete the two well drilling programme in the Cooper Basin permit ATP 633P, based on recently acquired 2D and 3D seismic data.
• Progress the development of the Rivoli gasfield, in the Carnarvon basin.
• Continue the project evaluation and funding process for Hybrid Energy

ELYOB
18-04-2008, 11:17 AM
Commence drilling at the Florence project, Colorado, based on the recently acquired 3D seismic data.

Thought they would have said more about this ?

JBmurc
18-04-2008, 11:44 AM
Commence drilling at the Florence project, Colorado, based on the recently acquired 3D seismic data.

Thought they would have said more about this ?

-Yeah I guess the focus is on the more important RAYBURN wells and get the cashflow up to give them some cash on hand for futher drills like the Florence project which is small 2mmbl+ oil etc 33% STX-hopefully STX don't have to do another cap raising on there big exploration spend of late even though they seem to be investing the funds wisely at Rayburn.

JBmurc
29-04-2008, 09:00 PM
Hartleys out on the fundamentals of STX, covering Rayburn which it is suggested cld be worth $1 itself; steady production at Mesquite; the exploration portfolio -- Gulf Coast, Florence, Rockies, Carnarvon hih risk but potentially very promising return if successful; Rivoli Gas project; and the Hybrid developments. Repeats the projections of c.$2M per month by mid year and rates it a highly prospective speculative buy, minimum four-bagger from current levels, with April value of 54c.


as reported in the West Australian newspaper today

Hartleys has tipped Stx as a spec buy, given recent drilling success at its Texas rayburn project and the prospect of a company re rating on its diverse exploration portfolio.

Hartleys said rayburn had considerable upside potential for the group, while its 100 per cent owned brown coal deposit is South Australia was another oppurtunity.

Hartleys said the company was considering several funding possibilities for the coal project, with any deal effectivily placing value on the assett and potentially leading to a re rating of strike.

JBmurc
02-05-2008, 05:11 PM
high of 28c only the start of STX uptread to well over $1 IMHO-6 wells soon + maybe 14 well flowing high yeilding GAS in the Gulf before years over-3mill per month +maybe 6mill per month years end-


STRIKE OIL SECURES USD 11.7 MILLION DEBT FACILITY
Strike Oil Limited (“Company“) is pleased to announce that it has secured a definitive borrowing base facility agreement (“Facility”) with the Commonwealth Bank of Australia (“CBA“). Under the agreement CBA will make available to the Company a debt facility of USD 11.7 million, to be repaid over a term of five years.
The Facility is a conventional borrowing base arrangement, secured against the Company’s production assets at the Mesquite and Rayburn gasfields located onshore in the Gulf Coast area, Texas.
The facility will be used to fund the Company’s intensive Gulf Coast drilling programme which could see up to a further eight wells drilled by December 2008. The company has the ability to increase the facility limit should additional reserves be recognised at its production assets.
As previously announced the Company’s average monthly production revenues (to Strike Oil’s working interest) for the quarter ended 31 March 2008 were approximately AUD 1.17 million. Based on anticipated production increases and current oil and gas prices, revenues are expected to increase to around AUD 3 million per month by the end of June 2008.
These increased revenues together with the Facility funding will enable the Company to use its existing funds to progress its non-Gulf Coast projects more rapidly with reduced equity capital requirements.
Strike Oil Limited
ABN 59 078 012 745
Strike Oil’s managing director, Simon Ashton, commenting on the Facility, stated:
“The debt facility is a strategic milestone for the Company which reflects well on the maturity of the Company and the quality of its producing assets. The facility will enable Strike Oil to effectively execute its strategy in the Gulf Coast with reduced reliance on equity capital raisings. We are most grateful to CBA for their assistance and co operation in finalising the facility and anticipate building upon our relationship as Strike Oil grows”.
Yours faithfully
SIMON ASHTON
Managing Director
Further information:
Strike Oil Limited
Simon Ashton - Managing Director
T: 08 6464 0400
E: strike@strikeoil.com.au

brettdale
02-05-2008, 08:22 PM
Very good news today indeed, a great week for STX.

brettdale
05-05-2008, 12:38 PM
Its begining to look a lot like xmas!!

Flow rates double.

Click on latest announcements!

http://www.strikeoil.com.au/media/2008_05_05_Outstanding_Test_Result_at_Rayburn.pdf

http://www.strikeoil.com.au

tommy
05-05-2008, 04:59 PM
Its begining to look a lot like xmas!!

Flow rates double.

Click on latest announcements!

http://www.strikeoil.com.au/media/2008_05_05_Outstanding_Test_Result_at_Rayburn.pdf

http://www.strikeoil.com.au

Well done brettdale, hope you were rewarded today :-)

I bought a small parcel today after the news, chart is looking good and price still seems reasonable with limited downside.

COLIN
05-05-2008, 09:30 PM
I also hopped on board today. Doesn't seem too late.

tommy
06-05-2008, 12:02 AM
Here is da chart, which most of the time is totally useless after a major announcement:

http://bigcharts.marketwatch.com/interchart/interchart.asp?symb=AU%3Astx&draw.x=54&draw.y=17

But good news is that Hartley's latest STX valuation = 61c!! hehehe, this should lure some punters into STX in the coming days.

http://www.strikeoil.com.au/media/2008_05_05_Hartley__s_Report.pdf

Strike Oil Limited SPECULATIVE BUY
Outstanding Result at Rayburn
Brief Update Note
Stock: Strike Oil Limited (STX 31cps)
Valuation: 61cps (prev 54cps)
Market Cap (Full. Dil.): $98.2m ($105.6m)
Issued Capital (Full. Dil.): 327.2m shares (352m)
Cash (as at 31 March 2008): $3.6m
Date: 5 May 2008
Resources Analyst: David Wall

Hartleys Limited ABN 33 104 195 057 (AFSL 230052)

Details:
• Duncan 2 Flows at 10mmcf/d (STX 22.8%) – Strike has recently announced flow rates from its Duncan 2 well in Rayburn, Texas. The well is flowing at rates of 10mmcf/d with 224boc/d. This is in addition to recent success at its Duncan-1 well which continues to flow at 10mmcf/d and 260boc/d.

Impact
• Our valuation has increased to 61cps. This is based on the Duncan 2 result, and the continued flow rates from the Duncan 1 well. This is an excellent result for Strike and doubles its net revenue to ~US$1.8m per month. The Company is now targeting revenue of US$3-4m per month by mid year.
Our valuation of STX is based on 8mmcf/d initial production rates, which is slightly on the conservative side of the mean of the 5-15mmcf/d expected by the Company. Our gas price assumption for 2008 is US$9.50 per mcf, whilst gas prices are currently above US$10 per mcf. We have also only factored in 1 additional well (excluding those mentioned below) at Rayburn; however, continued success could see this number rise. This indicates that further upside potential remains in our valuation. The Company also expects strong news flow over the next two months with additional drillin g dependanton the success of the current well program. Newsflow expected includes:

• Test results from the Gilbert Freeman 1 well which targets the same middle Wilcox formation as the Duncan 1 & 2 wells. These should be known in 2-3 weeks.

• Completion of drilling of the Gilbert Freeman 2 well, which spudded on the weekend. These wells typically take around 30 days to drill if there are no serious complications.

• Completion and testing of the Duncan 3 well. This is expected by the end of the month or early June.

• Testing of a shallower formation at Hlavinka Duncan 1. This is a lower impact event; however, it is still significant in indicating the potential of additional gas bearing zones at the Rayburn project.
Timing on this is dependant on activity in the more highly productive zone, which takes
preference.

• We believe that the significance of the Rayburn project is yet to be understood by the general market, and Strike continues to trade at a substantial discount to our increased valuation of 61cps. Strong newsflow and potential continued success should see a re-rating of the stock. The Company has also recently acquired debt funding of US$11.7m so that it should not need to issue equity to fund further drilling. We rate Strike Oil Limited as a Speculative Buy.

JBmurc
09-05-2008, 07:39 PM
well 61c is fine by me for mid-year still lot more growth to come $1 isn't out of the question on the back of more results and futher GAS price growth

tommy
12-05-2008, 01:00 AM
Chart and volume looked good on Friday, let's hope DOW doesn't spit the dummy next week to destabilize All Ords again...

http://asx.netquote.com.au/charts.asp?code=stx&x=0&y=0

STX should have further upside despite the recent rise.

JBmurc
24-05-2008, 09:07 AM
looks like someone wanted a serious piece of STX yesterday ----
great close at 34c bring on next week annoucments should spur more big buyers into STX

---off hc-------the biggest buys of the day-----
33c - 363,372 - $119,913
33.5c - 1,196,655 - $400,879
34c - 718,728 - $244,368

brettdale
26-05-2008, 01:35 PM
So far its up four cents today to 38c!!

brettdale
27-05-2008, 11:12 AM
Up another cent today so far to 39.5 cents.

brettdale
27-05-2008, 11:59 AM
A bit of profit taking I see, back to 38 cents.

JBmurc
01-06-2008, 09:51 PM
yeah had a good run last week ,but is still very cheap STX's assets are top class and going forward STX will only get more market attention as there upcoming $4-$5mill per month cashflow+Bank credit fund futher drilling and fast track other projects like there --Hybrid Energy Australia Pty Ltd which has tenure over a 578mt, JORC compliant, lignite (brown coal) deposit in South Australia. The company’s FuturGas project is targeting a low emissions power generation and coal to petroleum liquids project.(currently worth 0c to STX SP)

-http://www.strikeoil.com.au/ -worth alook if you like a low risk muti bagger if not theres pently hype round CSG take a punt on high risk est. reserves profits etc

Not selling 1 share below $1

JBmurc
04-06-2008, 09:21 AM
US gas At $12.22 mmbtu STX massive Rayburn discovery and other operations will be bringing in some large cashflows for STX am confindent that STX will be announcing cashflows over 150k per day in the next couple months add in a discovery at the Florence project
I think we'll see Hartley valuation of STX go alot higher as they only took $9.50 av Gas price if you took the lastest price as the new average(US gas is going only oneway) STX production IMHO 12mmcfpd before years end est.= $1.22 min




Natural Gas Rises Amid Competition for Storage, Industrial Use

By Reg Curren

June 3 (Bloomberg) -- Natural gas rose to the highest since December 2005 amid increased demand as distributors secure supplies for storage in competition with industrial users.

On an energy equivalency basis, oil used to heat buildings and run power plants traded at a premium to gas in New York of about 27 percent. Gas inventories totaled 1.701 trillion cubic feet in the week ended May 23, about 321 billion, or 16 percent, below a year earlier, the U.S. Energy Department said May 29.

Consumers who can burn either fuel oil or natural gas have switched and they're not moving back to petroleum products, said Stephen Schork, president of Schork Group Inc. of Villanova, Pennsylvania. ``Natural gas is still a relatively cheap fuel.''

Natural gas for July delivery rose 25.2 cents, or 2.1 percent, to settle at $12.221 per million British thermal units at 3:05 p.m. on the New York Mercantile Exchange. Futures have climbed 63 percent this year.

Gas for delivery through March 2009 traded at a premium to July. When gas for future delivery costs more than near-month contracts, it's a situation technically known as contango, which encourages companies to increase stockpiles now for use later. Gas for January 2009 delivery traded close to 90 cents per million Btu above July.

Crude oil for July delivery fell $3.45, or 2.7 percent, to settle at $124.31 a barrel in New York. Futures reached a record $135.09 a barrel on May 22. Futures are 91 percent higher than a year ago.

``I have a utility client who didn't burn any fuel oil this past winter, they're still burning natural gas,'' said Schork.

About 10 percent of manufacturing plants and power generators have the ability to switch between gas and oil to take advantage of price swings, according to the U.S. National Petroleum Council.

Inventories

``We had a very large drawdown in stockpiles this winter and we need to replenish that,'' said Schork. ``April to June is when we see our largest injections and we are trailing a year ago.''

The Energy Department is scheduled to release its weekly report on gas inventories June 5 at 10:35 a.m. in Washington.

Technical traders and investment fund money may also be buying natural gas as crude oil loses favor, said Martin King, an analyst at FirstEnergy Capital Corp. in Calgary.

Since reaching a record on May 22, crude has fallen nearly 5 percent and gas has gained more than 4 percent.

``Gas had been ignored to some degree,'' said King. ``If you're gunned up on the hurricane season and you think it could be an extended, hot summer, then why not get in there. Gas is getting some respect.''

There was concern ``that you would see a pullback in industrial demand and this just hasn't happened,'' said King. ``Demand has been well supported by exports, the chemical guys are producing like crazy and there has been no slowdown in steel. They're all big users of gas.''

Chemicals and Steel

The American Chemistry Council said in its 2008 outlook that exports, fueled by a lower U.S. dollar, will increase industry volumes by 2.1 percent. Shipments may rise to $654 billion this year from a record $639 billion in 2007.

``We're still seeing strong exports,'' Kevin Swift, chief economist at the Arlington, Virginia-based council, said today.

The chemical industry accounts for about 6 percent of total U.S. energy consumption. Gas and gas liquids represent 55 percent of the energy feedstock for the industry, according to the associations Web site.

Colorado State University meteorologists, whose forecasts are followed by insurers and energy markets, today stuck to their April prediction of eight Atlantic hurricanes this season.

JBmurc
10-06-2008, 02:11 PM
-No wonder thers been no news on Florence of late
-Overall I trust the managerment so this move will be postive for shareholders as STX focus more on the Gulf.
-Bring on the-- flint discovery



GULF COAST EXPANSION AND ROCKY MOUNTAIN SALE
Strike Oil is pleased to announce a focussing of resources and expansion of
its interest in the Gulf Coast Texas.
• Gulf Coast, increased interest in exploration drilling
• Rocky Mountains sale of interests
• Redirection of funds to Gulf Coast activities
GULF COAST TEXAS
Strike Oil has successfully negotiated an increase of its overall interest from
25% to 30% in the Eaglewood Area Participation Agreement (“the
Agreement”) in onshore Gulf Coast, Texas.
The Agreement controls the relationship that Strike Oil has with Cypress E&P
Corporation in the currently successful exploration program in the Gulf Coast.
In addition to the increase in its overall interest under the Agreement, Strike
Oil has increased its interest from 25% to 35% in the Flint Prospect, a 50
billion cubic feet (bcf) of gas potential prospect, which is a specific exploration
prospect within the Eaglewood Agreement.
The additional interests acquired will cost Strike Oil approximately US$0.9
million in prior expenditure primarily associated with data purchases and
leasing on numerous prospects.
Strike Oil’s existing 26.25% and 22.8% interests respectively in the Mesquite
and Rayburn Projects will not change as a result of the increase in its
interests under the Agreement
The increase in its overall interest under the Agreement provides Strike Oil
with the opportunity to participate in up to 30% of a large portfolio of existing
prospects and future prospects generated in the Gulf Coast in which there
are up to five priority prospects that are planned for drilling in the next 18
months, primarily Wilcox Formation Prospects, with a combined potential to
the order of 400 bcf of gas.
Strike Oil Limited
ABN 59 078 012 745
2
The proposed drilling programme for the future prospects is in addition to the
ongoing appraisal and development drilling at the Rayburn Project, which has
the potential for multiple hundreds of bcf of gas.
The success rate in the Wilcox Formation in the current program is two
commercial successes out of three exploration wells drilled, which has
resulted in the Mesquite and Rayburn Project discoveries which are currently
producing at a combined gross rate of 27 million cubic feet of gas and 700
barrels of condensate per day. Strike Oil’s revenue to its Working Interest
from these projects is around $3 million per month.
The current production rate and revenues are expected to increase
significantly over the next few months as more wells are brought into
production at Rayburn.
ROCKY MOUNTAINS
Strike Oil has entered into a Purchase and Sale Agreement with a privately
held US company, Pine Ridge Oil & Gas, LLC to sell its Rocky Mountains
interests that it held in Joint Venture with Comet Ridge Limited. (Refer to the
attached ASX release by Comet Ridge Limited for further information).
Strike Oil will upon settlement (at the end of June 2008) receive a purchase
price in the sum of US$2 million cash plus approximately US$0.5 million in
cost reimbursement for the sale of its interests.
In addition to the purchase price and cost reimbursement of approximately
US$2.5million, Strike Oil will achieve internal cost savings to the order of
US$2 million over the next 3 to 6 months from its budget for the Rocky
Mountains drilling program.
The cash payments and cost savings, the order of US$4.5 million, will enable
Strike Oil to redirect additional funds to its expanded Gulf Coast program.
Strike Oil’s Managing Director, Simon Ashton, commenting on the above
transactions stated that:-
“The combination of the increased interest in the Gulf Coast activities and
sale of the Rocky Mountains interests enhances Strike Oil’s focus on its
activities in the successful Gulf Coast exploration and development program
and therefore allows the company to grow at an even greater rate than
previously expected.

shasta
25-06-2008, 08:53 PM
-No wonder thers been no news on Florence of late
-Overall I trust the managerment so this move will be postive for shareholders as STX focus more on the Gulf.
-Bring on the-- flint discovery



GULF COAST EXPANSION AND ROCKY MOUNTAIN SALE
Strike Oil is pleased to announce a focussing of resources and expansion of
its interest in the Gulf Coast Texas.
• Gulf Coast, increased interest in exploration drilling
• Rocky Mountains sale of interests
• Redirection of funds to Gulf Coast activities
GULF COAST TEXAS
Strike Oil has successfully negotiated an increase of its overall interest from
25% to 30% in the Eaglewood Area Participation Agreement (“the
Agreement”) in onshore Gulf Coast, Texas.
The Agreement controls the relationship that Strike Oil has with Cypress E&P
Corporation in the currently successful exploration program in the Gulf Coast.
In addition to the increase in its overall interest under the Agreement, Strike
Oil has increased its interest from 25% to 35% in the Flint Prospect, a 50
billion cubic feet (bcf) of gas potential prospect, which is a specific exploration
prospect within the Eaglewood Agreement.
The additional interests acquired will cost Strike Oil approximately US$0.9
million in prior expenditure primarily associated with data purchases and
leasing on numerous prospects.
Strike Oil’s existing 26.25% and 22.8% interests respectively in the Mesquite
and Rayburn Projects will not change as a result of the increase in its
interests under the Agreement
The increase in its overall interest under the Agreement provides Strike Oil
with the opportunity to participate in up to 30% of a large portfolio of existing
prospects and future prospects generated in the Gulf Coast in which there
are up to five priority prospects that are planned for drilling in the next 18
months, primarily Wilcox Formation Prospects, with a combined potential to
the order of 400 bcf of gas.
Strike Oil Limited
ABN 59 078 012 745
2
The proposed drilling programme for the future prospects is in addition to the
ongoing appraisal and development drilling at the Rayburn Project, which has
the potential for multiple hundreds of bcf of gas.
The success rate in the Wilcox Formation in the current program is two
commercial successes out of three exploration wells drilled, which has
resulted in the Mesquite and Rayburn Project discoveries which are currently
producing at a combined gross rate of 27 million cubic feet of gas and 700
barrels of condensate per day. Strike Oil’s revenue to its Working Interest
from these projects is around $3 million per month.
The current production rate and revenues are expected to increase
significantly over the next few months as more wells are brought into
production at Rayburn.
ROCKY MOUNTAINS
Strike Oil has entered into a Purchase and Sale Agreement with a privately
held US company, Pine Ridge Oil & Gas, LLC to sell its Rocky Mountains
interests that it held in Joint Venture with Comet Ridge Limited. (Refer to the
attached ASX release by Comet Ridge Limited for further information).
Strike Oil will upon settlement (at the end of June 2008) receive a purchase
price in the sum of US$2 million cash plus approximately US$0.5 million in
cost reimbursement for the sale of its interests.
In addition to the purchase price and cost reimbursement of approximately
US$2.5million, Strike Oil will achieve internal cost savings to the order of
US$2 million over the next 3 to 6 months from its budget for the Rocky
Mountains drilling program.
The cash payments and cost savings, the order of US$4.5 million, will enable
Strike Oil to redirect additional funds to its expanded Gulf Coast program.
Strike Oil’s Managing Director, Simon Ashton, commenting on the above
transactions stated that:-
“The combination of the increased interest in the Gulf Coast activities and
sale of the Rocky Mountains interests enhances Strike Oil’s focus on its
activities in the successful Gulf Coast exploration and development program
and therefore allows the company to grow at an even greater rate than
previously expected.

CTL focus for the Futurgas Project

http://www.stocknessmonster.com/news-item?S=STX&E=ASX&N=411390

JBmurc
26-06-2008, 09:00 AM
Yeah looks good aye
looking forward to the discounted Hybrid float STX will be giving to STX Shareholders -Or maybe just first dibs on most of the float ,free att opts will just have to wait and see

STX should also be keeping 20%+ position in the new CTL company to go with there COI holding,nice add-on too operations

STX long term=emerging mid-cap energy company

-You holding yet shasta

JBmurc
26-06-2008, 09:16 AM
http://www.strikeoil.com.au/media/2008_06_24_Strike_Unveils_Coal_to_Liquids_Project. pdf

shasta
26-06-2008, 04:55 PM
Yeah looks good aye
looking forward to the discounted Hybrid float STX will be giving to STX Shareholders -Or maybe just first dibs on most of the float ,free att opts will just have to wait and see

STX should also be keeping 20%+ position in the new CTL company to go with there COI holding,nice add-on too operations

STX long term=emerging mid-cap energy company

-You holding yet shasta

Not at present, but as you can see am still watching closely.

Always liked STX, & probably should have kept them!

Rayburn update

http://www.stocknessmonster.com/news-item?S=STX&E=ASX&N=411545

JBmurc
10-07-2008, 08:40 PM
"Strike Oil's revenues are forecast to exceed $4 million for July as a consequence of the increased production at Rayburn and the high oil and gas prices received. With two wells awaiting testing at Rayburn and four to six new development and exploration wells to be drilled in the Gulf Coast before the end of 2008 we should see revenues increase during the year providing oil and gas prices do not decrease substantially below current levels

JBmurc
23-07-2008, 01:49 PM
Latest news-------------------------STX cashflow growth looking better ever week


RAYBURN PROJECT
SUCCESSFUL DUNCAN 3 TEST RESULTS LIFT PRODUCTION
Strike Oil is pleased to announce successful flow test results from its Duncan 3 well which have significantly increased production at the Rayburn Project in the Gulf Coast, Texas.
• Duncan 3 outstanding flow rate adds 10 million cubic feet gas and 234 barrels oil-condensate per day.
• Gross production from Strike Oil’s projects in the Gulf Coast (Rayburn and Mesquite combined) at 38 million cubic feet of gas and 900 barrels of oil-condensate per day.
• Strike Oil’s net production 8.8 million cubic feet of gas and 214 barrels of oil-condensate per day.
• Hlavinka Gas Unit 1-1, intermediate casing set prior to drilling ahead.


WELL TESTING
Duncan 3
The flow testing of Duncan 3 has been completed. The following information will be reported to the Texas Railroad Commission, the state regulatory body, on Wednesday, Texas time.
Gas Rate: 10.1 million cubic feet per day
Oil-Condensate Rate: 234 barrels per day
Flowing Tube Pressure: 5,984 psia
Choke Size: 17/64 inch
Two further wells, Gilbert Freeman 2 and 3, are awaiting facilities installation prior to testing commencing.

brettdale
23-07-2008, 06:02 PM
Bought in at 29 cents, yonks ago it seems, it seems to be only one of the companies that I own that actually announces results.

A long termer for me.

JBmurc
25-07-2008, 06:48 PM
HIGHLIGHTS FOR THE QUARTER
• Oil and gas revenue for the quarter was $9.22 million, up 165% on the
previous quarter;
• Gas production was up 88% for the quarter and oil condensate production
increased by 129%;
• Four Rayburn wells successfully tested and brought onto production (one
subsequent to end of quarter);
• Rocky Mountains assets sold for US$2.5 million - proceeds redirected to
focus on highly successful Gulf Coast programme;
• US$11.7 million debt facility secured with Commonwealth Bank of Australia
Ltd;
• Further development drilling planned for Gulf Coast - fully funded from
operating cash flows and bank facility;
• 2008/09 revenues now targeting between $50-55 million - up from previously
reported range of $35-40 million.
Managing


Great result IMHO 08/09=50m+ revenue for a 100mill Mrkcap STX nice

JBmurc
26-07-2008, 09:00 AM
However is Currently Range Bound...

Yawn... Hold your Fire!

http://i41.photobucket.com/albums/e264/arranging/srk.png

AA

Would be great to see a chart and your view on STX strike oil AA

JBmurc
26-07-2008, 10:21 AM
The biggest driver of weak short term selling in STX is from the massive dive in US Nat Gas price from just under $14 to now $9 this will soon change once winter draws nearer as will STX Gas flows which are increasing ever month massively
Also-an annoucment on drilling -Baniyas- WA where Gas is in huge demand
Ravoli production-also in WA................

late 08 STX $1sp P/e-10

brettdale
11-08-2008, 07:11 PM
Good day today, up one cent, back to 28.5, hopefully it will be back into the 30's in no time. I cannot see why the price is so low, the last half dozen annocuments have been good ones.

JBmurc
01-09-2008, 02:07 PM
MANAGING DIRECTOR’S COMMENTS
Strike Oil's Managing Director, Simon Ashton, commenting on the test results and the increase in production, stated:
“The flow from the Gilbert Freeman 2 well is another outstanding result at Rayburn. It lifts the gross production from the Rayburn and Mesquite Projects to 46.5 million cubic feet of gas per day and 1,175 barrels of condensate per day.
Strike Oil’s net production from its Gulf Coast projects being 10.7 million cubic feet of gas and 270 barrels of oil‐condensate per day. This results in revenue forecasts greater than $4 million per month even allowing for the slight drop in oil and gas prices.
With two wells waiting testing, one well about to spud and an ongoing Gulf Coast drilling program, production is expected to grow from this very exciting program

brettdale
01-09-2008, 07:10 PM
Yep another great announcement and result, not only does this company keeps it shareholders informed, the news is nearly always good.

Glad I'm holding.

Awamoa
01-09-2008, 07:11 PM
I see Hartleys have a valuation of 82 cents in their newsletter of 8/8/08.Thats about 300% on todays close.

JBmurc
01-09-2008, 08:18 PM
I see Hartleys have a valuation of 82 cents in their newsletter of 8/8/08.Thats about 300% on todays close.

Yep add in a few more discoverys should push that valuation above $1 and thats only there Mesquite & Rayburn production areas in the gulf coast shouldn't be long till we get a
drilling rig for drilling in the shallow waters of the Carnarvon Basin. The first well planned to be drilled will be on the Baniyas Prospect >100bcf + Oil prospect

STX makes up 60% of my ASX portfilo for good reason:)

JBmurc
03-10-2008, 08:16 PM
"...Hard working Gulf of Mexico gas and oil producer, Strike Oil, finds itself with a market capitalisation of $80 million and an expected operating cash flow of about $40 million this financial year. Strike is not alone. Many small- to medium-sized companies, including Petsec, Salinas, Carnarvon, Beach Petroleum, Australian Worldwide Exploration (AWE), Roc Oil and Tap Oil are trading with market capitalisations of about two to three times their expected 2009 financial year operating cash generation, much to the frustration of their shareholders. Moreover, stocks in this cohort are also trading at a deep discount to the underlying value of their oil and gas reserves, making them all targets for cashed up predators..."

brettdale
03-10-2008, 08:27 PM
Still ya have to ride this out, heck this is one company id the market sentiment was right, would be pushing $1, instead of 23 cents.

JBmurc
29-10-2008, 09:20 AM
Early Strike for big opportunities
Steve Rotherham
Monday, 27 October 2008

A SUCCESSFUL oil and gas junior is looking to coal-based unconventional energy projects to extend and balance its asset portfolio.

Hybrid Energy Australia managing director Barry Ford

Perth-based Strike Oil is best known for its track record in the conventional oil and gas business where it has built up a $50 million per annum business through success primarily in Texas.

Less known is its unconventional energy projects, which the company has been developing over the past few years.

Managing director Simon Ashton says processes such as underground coal gasification (UCG) and coal-to-liquids (CTL) offer big opportunities for Australian energy companies and for Australia as a whole.

“With global conventional petroleum resources in rapid decline, gasification of coals to synthetic liquid fuels has the potential to play a key role in assisting Australia to be self-sufficient to meet domestic fuel demand,” Ashton said.

Strike Oil’s strategic planning to pursue unconventional energy opportunities was initiated in the 1990s, when it began acquiring coal seam methane (CSM) assets that were subsequently placed into Comet Ridge. Comet was publicly listed in 2004 to operate CSM assets in the Bowen and Galilee basins.

And having recently rekindled its interest in unconventional projects, Strike Oil is now the operator of two substantial projects involving CSM, UCG, CTL and gas-to-liquids (GTL), with further opportunities under investigation, the company says.

Of Strike’s two current alternative energy initiatives – FuturGas and the Southern Cooper Project – FuturGas is the most advanced.

Located in southeastern South Australia, the FuturGas Project has forecast production of 10,000 barrels per day of ultra-pure liquid fuels as well as integrated electricity generation of up to 40 megawatts for export after meeting onsite power needs.

The FuturGas Project is operated by wholly owned Strike Oil subsidiary Hybrid Energy Australia, and is based on an extensive lignite (or brown coal) resource at the northern edge of the Otway Basin, near Kingston, 300 kilometres southeast of Adelaide.

The Joint Ore Reserves Committee-compliant Kingston coal resource of 578 million tonnes (523 million tonnes measured resource and 55 million tonnes indicated resource) was delineated in the 1980s with 550 boreholes and analytic data.

Based on a surface lignite mine and surface gasification plant, the FuturGas Project will produce syngas, primarily for processing and synthesising into ultra-pure diesel fuel, naphtha and electricity.

The University of Adelaide and other specialist consultants will contribute to the current FuturGas feasibility studies, which will assess the proposed development’s viability, according to Hybrid Energy Australia managing director Barry Ford.

“The unique relationship that Hybrid Energy Australia has with the University of Adelaide provides access to considerable research that will help accelerate project evaluation,” he said.

Ashton says he is confident the studies will prove positive.

“The technology to produce the fuels is well understood and ready-market access is assured with the lignite resource being close to major infrastructure including road, rail, gas pipelines and the South Australian electricity network,” he said.

“South Australia will become more dependent upon imported energy as the Moomba gas fields and the Leigh Creek coal fields deplete. New domestic production will enhance security and diversity of fuel supply.”

Ashton says the FuturGas Project is forecast to produce annual revenue of more than $400 million. Completion of the bankable feasibility is expected in 2010 and pilot production planned for 2012.

To technically underpin the environmental sustainability of these new projects, Strike has recruited in-house skills in the area of geosequestration: the long-term storage of carbon dioxide in naturally occurring sub-surface structures.

Strike and Hybrid Energy intend that the CO2 from the gasification plant will be separated, captured and subsequently stored in the North Otway Basin.
The company’s second unconventional initiative is the Southern Cooper Project, which has considerable UCG and CSM potential, but is at a much earlier stage of evaluation.

The Southern Cooper Project is located at the southernmost margin of the Cooper Basin, where the basin’s vast coal measures are closest to the surface.

These coals have not been evaluated for their CSM or underground gasification potential as permit processing for the grant has just begun. But these coal measures are known to be gas-rich elsewhere in the Cooper where they have acted as source rock for most of the region’s oil and gas.

While the Southern Cooper is more remote from markets than the FuturGas Project, it is traversed by both gas and liquids pipelines that service the Cooper Basin petroleum production to the north.

Based on the coal intersections in old petroleum exploration wells and seismic surveys in the area, Strike Oil has estimated the coals could hold a potential prospective gas resource of 8-20 trillion cubic feet.

Individual coal seams up to 18m thick have been intersected in wells with composite thickness estimated at up to 80m thick at depths of 1000-1500m.

These coals also have the potential for underground coal gasification leading to gas-to-liquids conversion using similar downstream technology to that being considered for the FuturGas Project, according to Ashton.

“The scale of this liquids project could potentially be two to five times greater than the FuturGas Project due to the substantial coal measures that have been indicated by petroleum wells and seismic surveys in the area,” Ashton said.

Drilling to evaluate the potential of these coals is being planned for mid-2009.

Strike Oil is the operator of this project with a 66.66% interest and partner Energy World Corporation holds the remaining 33.33%.

Meanwhile, Strike has also formed a subsidiary called Sequester. This company is investigating geosequestration sites that could store CO2 from the Southern Cooper and FuturGas Projects.

“The move by governments to consider carbon emissions trading schemes has further stimulated industry interest in geosequestration,” Ashton said.

“We believe our work in this area offers not just the potential to ensure our own projects are near carbon-neutral, but also opportunities to provide services to other companies in what is likely to be a rapidly growing sector.”

Strike says its move into these areas of opportunity is a natural progression given the company’s knowledge of Australia’s basin geology and associated coal measures, its existing acreage position and its experience in drilling and production technology.

In addition, the longer development periods required for unconventional opportunities provides a balance for Strike’s existing shorter-term conventional oil and gas projects.

“The FuturGas Project and Southern Cooper Project have promising futures,” Ashton said.

“We strived to be an early mover in alternative energy conversion and these initiatives have now placed Strike as a front-runner in this emerging industry.”

JBmurc
30-10-2008, 12:44 PM
GULF COAST ‐ OPERATIONS UPDATE
Strike Oil is please to report on the progress of its activities in the Gulf Coast, Texas.

Duncan Ansley Gas Unit 1‐1 drilling ahead at 7,848 feet (2,393 metres)

Shallow drilling and completion programme proposed

Reserves and resource report expected next week
DRILLING UPDATE
Duncan Ansley Gas Unit 1‐1 (Rayburn project)
On 29 October (Texas time) the well was drilling ahead at 7,848 feet (2,393 metres).
The well, which is targeting Wilcox objectives, is located 5,146 feet (1,568 metres) east‐northeast of the initial discovery well, Duncan 1.
Proposed total depth of the well is 12,200 feet (3,719 metres). The well is expected to take another 2‐3 weeks to reach total depth.
Strike Oil has a 22.8% Working Interest in the Rayburn project
SHALLOW DRILLING AND COMPLETION PROGRAMME
Several of the wells drilled in the Rayburn project have penetrated interpreted shallow gas pays above the Wilcox formation which appear to be commercial.

shasta
25-11-2008, 06:30 PM
GULF COAST ‐ OPERATIONS UPDATE
Strike Oil is please to report on the progress of its activities in the Gulf Coast, Texas.

Duncan Ansley Gas Unit 1‐1 drilling ahead at 7,848 feet (2,393 metres)

Shallow drilling and completion programme proposed

Reserves and resource report expected next week
DRILLING UPDATE
Duncan Ansley Gas Unit 1‐1 (Rayburn project)
On 29 October (Texas time) the well was drilling ahead at 7,848 feet (2,393 metres).
The well, which is targeting Wilcox objectives, is located 5,146 feet (1,568 metres) east‐northeast of the initial discovery well, Duncan 1.
Proposed total depth of the well is 12,200 feet (3,719 metres). The well is expected to take another 2‐3 weeks to reach total depth.
Strike Oil has a 22.8% Working Interest in the Rayburn project
SHALLOW DRILLING AND COMPLETION PROGRAMME
Several of the wells drilled in the Rayburn project have penetrated interpreted shallow gas pays above the Wilcox formation which appear to be commercial.

STX - Gulf Coast Operation Update

http://www.stocknessmonster.com/news-item?S=STX&E=ASX&N=430613

JBmurc
25-11-2008, 09:15 PM
Yeah not what us shareholders wanted at Duncan Ansley Gas Unit 1‐1- hopefully they can find some decent Gas in the shallows there and at there other successive wells be great if they could recoupe some of the 10% reserve loss at Ansley.

Think the market has priced STX way to cheaply still thats the current sentiment towards everthing but GOLD atm Yrs ago when I first brought STX they were trading round these mid-low teen levels and that was before the discovered Mesquite and the world class Rayburn discovery's If it wasn't for the current fear market we'd be prob be moaning about the SP falling below 50c after hitting 70c+

Still Going forward STX has a very impressive drill program line-up with -Tumbleweed Prospect 40bcf (Mesquite) in December (I remember back when STX went to over 40c on Mesquite success alot of shareholder were very miffed STX didn't keep drilling there..

-Also I remember in talking with STX managerment how Flint was basically a good discovery from data but because of very near water zones couldn't be fracced to flow cause it could well destroy the formation.......So the Gas is there just need to go back which they plan on doing soon and redrilling area etc

Overall being a US GAS focus explorer & producer I'm more than happy to see US Nat gas at 6.84 going into winter demand and the AUD weak against the USD as STX should have yet another impressive Qtr of cashflows AUD coming up

-Fact- --The market Cap of STX is now under 1 year of current earnings going forward it could well be half

JBmurc
24-12-2008, 07:54 AM
Well STX worth 41mill atm hard to believe after all the great discoverys STX SP is back to where it was in 2005 yr
-current P/E-4.8 talk of current reserves keeping STX cashflows flowing for the next 6-7yrs
-looking forward to a discovery at tumbleweed 40bcf 30% STX just spudded


-Daily production of gas and oil‐condensate from Rayburn and Mesquite is approximately 45 mmcf gas and 1,160 barrels of condensate, or 5,660 barrels of oil (value) equivalent (boe); approximately 1,300 boe net to Strike Oil. This substantial rate is providing monthly revenues to Strike Oil approximately AUD$3 million per month based upon the current oil and gas prices.

STX-my long term hold 4yrs an counting (taken some profits along the way)

yogi-in-oz
25-12-2008, 01:45 AM
:)

Hi folks,

STX ... expecting to see some very nasty news surface, in January-February 2009 ... :)

Merry Christmas and Happy 2009.

have a great day

paul

:)

=====

JBmurc
26-12-2008, 07:21 AM
:)

Hi folks,

STX ... expecting to see some very nasty news surface, in January-February 2009 ... :)

Merry Christmas and Happy 2009.

have a great day

paul

:)

=====

nasty news ?? not really what I need for a happy new year!!

brettdale
26-12-2008, 03:48 PM
:)

Hi folks,

STX ... expecting to see some very nasty news surface, in January-February 2009 ... :)

Merry Christmas and Happy 2009.

have a great day

paul

:)

=====

Could you be more specific?

It cant go much lower, from being about 35 cents mid year i think to 11 cents now.

What is this news? and how come other forums arent talking about it?

JBmurc
26-12-2008, 08:21 PM
last time they were 11c they didn't have any production only abit of cash from the sale of Casino discovery hard to believe with 2 high class production areas there back at 11c Crazy -PS-NAT gas close to breaking through $6

brettdale
26-12-2008, 08:29 PM
I think if your a holder, this time in 2009, the price is going to be a lot higher than 11cents, oil will be back to $80 dollars a barrel. No use selling now.

shasta
01-01-2009, 02:56 PM
last time they were 11c they didn't have any production only abit of cash from the sale of Casino discovery hard to believe with 2 high class production areas there back at 11c Crazy -PS-NAT gas close to breaking through $6

JBMurc

Just rereading the Sept quarterly again (as you do in the holidays :D)

There FuturGas (CTL) project in South Australia is in roughly the same neighbourhood as the permits formerly held by Sapex (SXP, is now part of Linc Energy "LNC").

Linc Energy is about to receive $A1.5b cash from the sale of some coal permits to Chinese interests, which will fully fund them into production.

Given STX has a JORC 578mt lignite resource, & the apparent close geographical nature of there permits to LNC, it's not too out of the question that LNC & STX could work together to develope the project.

This could be huge, & on top of ever increasing gas & oil revenue from STX, this has rekindiled my interest ...

Might be worth holding a few, on the basis that LNC may come sniffing around?

JBmurc
01-01-2009, 05:14 PM
JBMurc

Just rereading the Sept quarterly again (as you do in the holidays :D)

There FuturGas (CTL) project in South Australia is in roughly the same neighbourhood as the permits formerly held by Sapex (SXP, is now part of Linc Energy "LNC").

Linc Energy is about to receive $A1.5b cash from the sale of some coal permits to Chinese interests, which will fully fund them into production.

Given STX has a JORC 578mt lignite resource, & the apparent close geographical nature of there permits to LNC, it's not too out of the question that LNC & STX could work together to develope the project.

This could be huge, & on top of ever increasing gas & oil revenue from STX, this has rekindiled my interest ...

Might be worth holding a few, on the basis that LNC may come sniffing around?

Yeah certainly a nice asset to have in the backround STX does certainly have there fingers in some prime pies of energy

STX's Non-Conventional Resources Growing – Based on a 10,000 barrel
per day coal-to-liquids (“CTL”) project, Hybrid may be worth > $350m.
Alternative financing options are currently being considered. A farmout
deal could crystallise the value of the asset and re-rate it on the market.
Strike also has a 67% interest in an early stage coal seam gas /
underground coal gasification project, where drilling is scheduled in
2009.

So not only do STX have a growing production base in US.
but Hybrid CTL which we know could in it self be worth alot more than current Mktcap by itself.

Throw in a good CSG targets 8 to 20 trillion cubic feet of gas in the cooper basin.
-20,000bbl day underground coal gasification target in their southern cooper basin.
-shallow Offshore gas in the Carnarvon Basin W.A (111bcf target at baniyas )
-Rivoli is an existing discovery with estimated resources of 10-20 bcf.
-a 8.9% shareholding in COI

Crypto Crude
01-01-2009, 06:45 PM
good post JBmurc



shasta-
JBMurc

Just rereading the Sept quarterly again (as you do in the holidays :D)

There FuturGas (CTL) project in South Australia is in roughly the same neighbourhood as the permits formerly held by Sapex (SXP, is now part of Linc Energy "LNC").

Linc Energy is about to receive $A1.5b cash from the sale of some coal permits to Chinese interests, which will fully fund them into production.

Given STX has a JORC 578mt lignite resource, & the apparent close geographical nature of there permits to LNC, it's not too out of the question that LNC & STX could work together to develope the project.

This could be huge, & on top of ever increasing gas & oil revenue from STX, this has rekindiled my interest ...

Might be worth holding a few, on the basis that LNC may come sniffing around?


nice spotting shasta...

I think I need to have a good look at Strike eah...
:cool:
.^sc

shasta
01-01-2009, 07:14 PM
good post JBmurc



nice spotting shasta...

I think I need to have a good look at Strike eah...
:cool:
.^sc

Especially with the chart showing some improvement, having already crossed the 30 day MA

http://www.directbroking.co.nz/cgi-bin/sparkle.dll/superchart?template=dblsuperchart&session=0&instrument=STX&exchange=ASX&period=6M&adj=yes&vs=LINE&ct=LINE&compi=&ma1=30&ma2=90&bb=Y&ind=RSI&ra=2

And looking at a shorter term (3 months chart), 10 & 30 day MA

http://www.directbroking.co.nz/cgi-bin/sparkle.dll/superchart?template=dblsuperchart&session=0&instrument=STX&exchange=ASX&period=3M&adj=yes&vs=LINE&ct=LINE&compi=&ma1=10&ma2=30&bb=&ind=STC&ra=2

JBmurc
06-04-2009, 03:32 PM
well finally STX out of their downward trend 16c last time i looked with very little in the selling depth till my sell at 35c which will only stay as a short term sell (which is under halve my holding)

Did other STX'er know about STX's CSG potential
VALUE

Huge 8-20 Tcf prospective resource

Shallowest Permian coals in the Cooper Basin (targeted by Santos in deeper parts of the Basin)

Adjacent to key gas delivery pipelines

Coal distribution confirmed by oilfield drilling

Up to 80 metres composite coal thickness

Awamoa
06-04-2009, 07:34 PM
Interesting objective in todays presestation is to "increase production by 4 times within the next 2 years".
Anyone keen on this stock should be in now for the ride IMHO.

brettdale
06-04-2009, 07:51 PM
Well F me, after holding for nearly two and a half years I sold a week ago at 12 cents.

:-(!!!

Congrats to people who still hold this stock.

JBmurc
06-04-2009, 08:30 PM
Interesting objective in todays presentation is to "increase production by 4 times within the next 2 years".
Anyone keen on this stock should be in now for the ride IMHO.

Yeah for sure I've been invested in STX for over 3yrs now and have seen STX grow into one of the top ASX jnrs in the USA seems like only yesterday STX were asking shareholders for more funds to drill their first exploration well their now their 6 months to 31 December 2008:-A$25 million revenue-A$14.8 million EBITDAX now if you look at what it would cost you to own a share of STX today compared to 3yrs ago it's just crazy to believe after STX management massive success in turning STX into a producer with many prime assets going forward its basically (outside a few extra shares) valued much the same 11c-12c before todays 29% rise ..........

Now if STX management believe they will increasing production 4 times their current flow in 2yrs a $200mill annual revenue would certainly blow the doors of their current low value SP
I'll certainly be still holding a few unless they get taken over

JBmurc
06-04-2009, 08:41 PM
Well F me, after holding for nearly two and a half years I sold a week ago at 12 cents.

:-(!!!

Congrats to people who still hold this stock.

man that sucks brett hope whatever you did with the funds was good...

I also sold my second half of PSA at 16.5c to now only weeks later see the stupid 70 shares I didn't sell worth 32c Sh*thappens funds went into ROC at 37.5c up 20% atm

brettdale
07-04-2009, 08:16 AM
Excellent post.

Thanks for all the helpful information.

Ive got a lot to learn.

JBmurc
07-04-2009, 11:01 AM
The Company is pleased to provide the following information in relation to the 578 million tonne lignite JORC resource estimate referred to on pages 13 and 16 of the Excellence in Oil and Gas presentation announced today, 6 April 2009.
This resource is located in the Kingston area in south‐east South Australia. Following a review of drilling and geological data by a Competent Person, this lignite JORC resource estimate is comprised of 523.5 million tonnes of Measured Resources and 54.8 million tonnes of Indicated Resources, being a total of 578.3 million tonnes.

Awamoa
14-04-2009, 11:57 AM
Nice lift again today.Should be lots to come.

bermuda
15-04-2009, 11:40 PM
Nice lift again today.Should be lots to come.

Dont hold any but this one made me quiver at the O&G conference. This thing has an apt name.

Awamoa
16-04-2009, 08:09 AM
Dont hold any but this one made me quiver at the O&G conference. This thing has an apt name.

Bermuda Can you elaborate?

bermuda
16-04-2009, 09:12 AM
Bermuda Can you elaborate?

Awamoa,
The best thing to do is read the latest presentation which was at the O&G conference I attended. The shares were 12 cents then and this stock has the potential to be severely rerated upwards. It has everything you want in a stock these days. Oil, gas, CSG, cash, profit and a plan to increase production 4 fold. I wanted to leave the room and press the buy button....but you cant own everything.

As always, DYOR.

mudrick
16-04-2009, 06:55 PM
bermuda

A look at the possiblities of the PELA 96 permit Possible 8 to 20 TRILLION cf of gas in the coal reserves As mentioned in todays open interview with SA. good gains today see


//www.asx.com.au/asxpdf/20090416/pdf/31h2wdqv40kg46 (http://www.asx.com.au/asxpdf/20090416/pdf/31h2wdqv40kg46).pdf

Mudrick

JBmurc
17-04-2009, 08:55 PM
wow talk about turn round glad I brought a nice pile to add to me other nice lot was very cheap at 13.5c can't wait till the STX rocketship really starts up so so much potential.

JBmurc
19-04-2009, 12:17 PM
good to see John campbell from OIL&GAS weekly brought into STX recently(bout time as I have been onto him awhile ago on their potential)

the Big positive is STX's 66.7% of this 4,485 square mile permit which the company
says has the potential for 8-20 Trillion cubic feet in the Patchawarra coal
measures. AGL apparently will hold the remaining 33.3% this alone could triple their market cap longer term once they have the permit to explore

Like of said so many times before STX has all the assets an management expertise to become the next ASX mid-cap energy stock with a billion+ Market Cap.

JBmurc
19-04-2009, 05:07 PM
Friday, 17 April 2009

STRIKE Oil expects to be granted the PELA 96 exploration permit, which will allow it to progress the Southern Cooper coal seam gas project in South Australia, in the next two months.



Simon Ashton

Managing director Simon Ashton told a corporatefile.com.au open briefing the company was on the verge of finalising the native title agreement and hoped to be offered the permit within two months.

“The Southern Cooper project has been retained for many years within Strike Oil but has remained in the application stage due to native title issues,” he said.

“Once we have the permit, we will drill cored evaluation wells to obtain information detailing the gas content in the coals to enable us to better define the resource.”

The Southern Cooper project is located on the southernmost margin of the Cooper Basin, where the basin’s vast coal measures are closest to the surface.

Based on the coal intersections in old petroleum exploration wells and seismic surveys in the area, Strike Oil has estimated the coals could hold a potential prospective gas resource of 8-20 trillion cubic feet.

Individual coal seams up to 20m thick have been intersected in wells with composite thickness estimated at up to 80m thick at depths of 1000-2000m.

“We believe the project has the potential to open up the vast CSG potential of the Cooper Basin, Australia’s premier onshore conventional oil and gas production region, which also has extensive gassy coal seams,” Ashton said.

Earlier last year, Ashton told PNN the coals had the potential for underground coal gasification leading to gas-to-liquids conversion using similar downstream technology to that being considered for the company’s FuturGas project.

“The scale of this liquids project could potentially be two to five times greater than the FuturGas project due to the substantial coal measures that have been indicated by petroleum wells and seismic surveys in the area,” he said.

Strike Oil is the operator of the Southern Cooper CSG project with a 66.66% interest and partner Energy World Corporation holds the remaining 33.33%.

bermuda
30-04-2009, 05:43 PM
Friday, 17 April 2009

STRIKE Oil expects to be granted the PELA 96 exploration permit, which will allow it to progress the Southern Cooper coal seam gas project in South Australia, in the next two months.



Simon Ashton

Managing director Simon Ashton told a corporatefile.com.au open briefing the company was on the verge of finalising the native title agreement and hoped to be offered the permit within two months.

“The Southern Cooper project has been retained for many years within Strike Oil but has remained in the application stage due to native title issues,” he said.

“Once we have the permit, we will drill cored evaluation wells to obtain information detailing the gas content in the coals to enable us to better define the resource.”

The Southern Cooper project is located on the southernmost margin of the Cooper Basin, where the basin’s vast coal measures are closest to the surface.

Based on the coal intersections in old petroleum exploration wells and seismic surveys in the area, Strike Oil has estimated the coals could hold a potential prospective gas resource of 8-20 trillion cubic feet.

Individual coal seams up to 20m thick have been intersected in wells with composite thickness estimated at up to 80m thick at depths of 1000-2000m.

“We believe the project has the potential to open up the vast CSG potential of the Cooper Basin, Australia’s premier onshore conventional oil and gas production region, which also has extensive gassy coal seams,” Ashton said.

Earlier last year, Ashton told PNN the coals had the potential for underground coal gasification leading to gas-to-liquids conversion using similar downstream technology to that being considered for the company’s FuturGas project.

“The scale of this liquids project could potentially be two to five times greater than the FuturGas project due to the substantial coal measures that have been indicated by petroleum wells and seismic surveys in the area,” he said.

Strike Oil is the operator of the Southern Cooper CSG project with a 66.66% interest and partner Energy World Corporation holds the remaining 33.33%.

JB,

I dont like holding too many stocks ( only hold BOW, VPE, VPEO, TEX, CNX, ITC ) as it can cloud your thinking with too much 'noise'.

But this STX looks so good I bought 300k today at 19.5 with another 200k on order.

Can't fault it....BOW still my major holding though.

JBmurc
30-04-2009, 06:45 PM
JB,

I dont like holding too many stocks ( only hold BOW, VPE, VPEO, TEX, CNX, ITC ) as it can cloud your thinking with too much 'noise'.

But this STX looks so good I bought 300k today at 19.5 with another 200k on order.

Can't fault it....BOW still my major holding though.

very good to here so have you sold any of your BOW holding up 1000%+ would be very tempting to take some profits

STRAT
01-05-2009, 03:06 PM
wow talk about turn round glad I brought a nice pile to add to me other nice lot was very cheap at 13.5c can't wait till the STX rocketship really starts up so so much potential.Been looking at STX. Just not keen on the way it has gapped up. Should we be expecting a retrace to around 16c?

AA and Dragonz,
Care to throw your thoughts?

STRAT
01-05-2009, 04:10 PM
I think 17.5c will act as support, 20.5c is close price resistance. I Think its more likely to move up breaking through resistance than pull back. Fairly strong Trend in place, and buyer to seller ratio bullish, not looking over brought yet either.Thanks AA...............

JBmurc
02-05-2009, 02:05 PM
Been looking at STX. Just not keen on the way it has gapped up. Should we be expecting a retrace to around 16c?

AA and Dragonz,
Care to throw your thoughts?

Well going by the bids depth I'd be surprised to see it falls much unless the bids in line start to fall off personal have friends who are now ringing me asking about buying STX After I said awhile back how good buying STX was in the low teens, they now having gained some confidence with the rebound...(late like what always happens)
Not a fan of using charts to buy sold off stocks fundamentals all the way chartist always wait till the stocks bouced alot before calling a buy...

STRAT
02-05-2009, 02:12 PM
fundamentals all the way chartist always wait till the stocks bouced alot before calling a buy...Thats true JBMurc but you and I both know getting in early is a riskier business ;)
Sweet when you pull it off though :D

JBmurc
04-05-2009, 01:54 PM
Thats true JBMurc but you and I both know getting in early is a riskier business ;)
Sweet when you pull it off though :D

certainly is a tad more risky but overall I wouldn't do it any otherway not saying I don't use charts for support & resistance levels but from a personal money making point of view fundaments are what I spent most my time studying , paying very well at the mo up $150,000 over the last few months some 16,000 today alone currently very close to being back in the black from 2yrs ago will have to start paying tax next fin yr at this rate it could be large......:)

STRAT
04-05-2009, 01:59 PM
certainly is a tad more risky but overall I wouldn't do it any otherway not saying I don't use charts for support & resistance levels but from a personal money making point of view fundaments are what I spent most my time studying , paying very well at the mo up $150,000 over the last few months some 16,000 today alone currently very close to being back in the black from 2yrs ago will have to start paying tax next fin yr at this rate it could be large......:)I hope your tax bill is huge lol ;)

No sign of STX dropping back to fill the gap today

Ketel One
04-05-2009, 04:03 PM
No sign of STX dropping back to fill the gap today

Indeed, up 12% atm, and sell depth starting to look very scarce- only 600k asks vs. 4million in the buy.

JBmurc
04-05-2009, 04:36 PM
Indeed, up 12% atm, and sell depth starting to look very scarce- only 600k asks vs. 4million in the buy.

Yep 30c just round the corner IMHO man seems only weeks ago STX were in major dire straits with STX at sub 10c and the fundamentalist with foresight were loading up.......

STRAT
05-05-2009, 03:06 PM
Looks like the day traders are getting out today

JBmurc
05-05-2009, 06:02 PM
Looks like the day traders are getting out today

yeah seeing than with a lot of my shares today no-doubt profit taking short term which is fair enough still believe long termers will be well rewarded 30c next stop

JBmurc
08-05-2009, 09:22 AM
Natural Gas Futures Rise on Expectation Demand Will Rebound
Share | Email | Print | A A A

By Reg Curren

May 7 (Bloomberg) -- Natural gas futures rose above $4 for the first time in six weeks on prospects for stronger demand, after a government report raised speculation that the recession is easing.

Gas gained after the Labor Department said the number of Americans filing claims for unemployment insurance unexpectedly fell last week to the lowest in three months. Gas consumption by factories and power plants accounts for 58 percent of demand.

“You’ve got a rush on all the commodities right now,” said Stephen Briggs, a partner at Intermarket Management LLC in Verona, New Jersey, a brokerage and energy risk-management firm. “There’s an overall program to buy every commodity, with the funds doing it.”

Natural gas for June delivery rose 19.4 cents, or 5 percent, to settle at $4.081 per million British thermal units at 3:15 p.m. on the New York Mercantile Exchange, the highest closing price since March 25. Gas has gained 15 percent so far this week and is heading for the biggest weekly increase since November 2007.

U.S. gas supplies jumped 95 billion cubic feet to 1.918 trillion in the week ended May 1, the report from the Energy Department showed. Analysts expected a gain of 93 billion. Inventories were 23 percent higher than the five-year average, unchanged from last week’s report. The average change over the past five years is an increase of 68 billion cubic feet.

Price Spread

“If you assume the U.S. economy begins to recover in the second half of the year, the 4 billion cubic feet a day lost in industrial demand will come back,” said Peter Linder, an analyst at DeltaOne Energy Fund in Calgary.

Linder said low prices are encouraging storage of gas now so it can be sold when prices recover. The January contract traded at a premium of about $2.12 to June futures.

Gas has tumbled 70 percent since reaching a 2008 high of $13.694 per million Btu on July 2 as factories were idled because of sliding demand. The U.S. economy contracted 6.1 percent in the first quarter and 6.3 percent in the final three months of 2008, according to the Commerce Department.

“It’s the whole thesis that things are getting less bad in the economy,” said Scott Hanold, an analyst at RBC Capital Markets in Minneapolis. “You’ve seen the metals, mining and energy move because they’re the ones that benefit initially when the economy rebounds.”

Gas use by factories in the U.S. may drop 7.4 percent this year as the slowdown reduces consumption, the Energy Department said in a report on April 14.

Economic Data

“Gas is being propelled higher on the same hopes that the end of contraction has been signaled by recent economic data, even though the fundamentals point in another direction,” Michael Fitzpatrick, a vice president for energy at MF Global Ltd. in New York, said in a note. “Market participants seem to want to look past the evidence for their conclusions.”

Prices may also get support as the number of onshore exploration rigs in the U.S. declines, Hanold said.

“We should start to see some of this production start falling off here about now,” he said.

The number of gas rigs working in the U.S. has dropped 54 percent since September as prices tumbled, data published by Baker Hughes Inc. show. The number has fallen from a peak of 1,606 in September.

As rigs idle, natural gas production in the U.S. is forecast to be 5.4 percent lower in the fourth quarter of this year compared with the same period in 2008, according to a report from the Energy Department on April 14.

The number of oil and natural gas rigs operating around the world fell 11 percent in April, the seventh straight month of declines, Baker Hughes said in a report today.

To contact the reporter on this story: Reg Curren in Calgary at rcurren@bloomberg.net.

bermuda
08-05-2009, 04:29 PM
Natural Gas Futures Rise on Expectation Demand Will Rebound
Share | Email | Print | A A A

By Reg Curren

May 7 (Bloomberg) -- Natural gas futures rose above $4 for the first time in six weeks on prospects for stronger demand, after a government report raised speculation that the recession is easing.

Gas gained after the Labor Department said the number of Americans filing claims for unemployment insurance unexpectedly fell last week to the lowest in three months. Gas consumption by factories and power plants accounts for 58 percent of demand.

“You’ve got a rush on all the commodities right now,” said Stephen Briggs, a partner at Intermarket Management LLC in Verona, New Jersey, a brokerage and energy risk-management firm. “There’s an overall program to buy every commodity, with the funds doing it.”

Natural gas for June delivery rose 19.4 cents, or 5 percent, to settle at $4.081 per million British thermal units at 3:15 p.m. on the New York Mercantile Exchange, the highest closing price since March 25. Gas has gained 15 percent so far this week and is heading for the biggest weekly increase since November 2007.

U.S. gas supplies jumped 95 billion cubic feet to 1.918 trillion in the week ended May 1, the report from the Energy Department showed. Analysts expected a gain of 93 billion. Inventories were 23 percent higher than the five-year average, unchanged from last week’s report. The average change over the past five years is an increase of 68 billion cubic feet.

Price Spread

“If you assume the U.S. economy begins to recover in the second half of the year, the 4 billion cubic feet a day lost in industrial demand will come back,” said Peter Linder, an analyst at DeltaOne Energy Fund in Calgary.

Linder said low prices are encouraging storage of gas now so it can be sold when prices recover. The January contract traded at a premium of about $2.12 to June futures.

Gas has tumbled 70 percent since reaching a 2008 high of $13.694 per million Btu on July 2 as factories were idled because of sliding demand. The U.S. economy contracted 6.1 percent in the first quarter and 6.3 percent in the final three months of 2008, according to the Commerce Department.

“It’s the whole thesis that things are getting less bad in the economy,” said Scott Hanold, an analyst at RBC Capital Markets in Minneapolis. “You’ve seen the metals, mining and energy move because they’re the ones that benefit initially when the economy rebounds.”

Gas use by factories in the U.S. may drop 7.4 percent this year as the slowdown reduces consumption, the Energy Department said in a report on April 14.

Economic Data

“Gas is being propelled higher on the same hopes that the end of contraction has been signaled by recent economic data, even though the fundamentals point in another direction,” Michael Fitzpatrick, a vice president for energy at MF Global Ltd. in New York, said in a note. “Market participants seem to want to look past the evidence for their conclusions.”

Prices may also get support as the number of onshore exploration rigs in the U.S. declines, Hanold said.

“We should start to see some of this production start falling off here about now,” he said.

The number of gas rigs working in the U.S. has dropped 54 percent since September as prices tumbled, data published by Baker Hughes Inc. show. The number has fallen from a peak of 1,606 in September.

As rigs idle, natural gas production in the U.S. is forecast to be 5.4 percent lower in the fourth quarter of this year compared with the same period in 2008, according to a report from the Energy Department on April 14.

The number of oil and natural gas rigs operating around the world fell 11 percent in April, the seventh straight month of declines, Baker Hughes said in a report today.

To contact the reporter on this story: Reg Curren in Calgary at rcurren@bloomberg.net.

JB,
Nice rise today ( up 22% to 25 cents )....and I see your other horse Cue was up too. Is native title about to be issued to STX?

JBmurc
08-05-2009, 04:41 PM
JB,
Nice rise today ( up 22% to 25 cents )....and I see your other horse Cue was up too. Is native title about to be issued to STX?

I'd say so their has just been massive amount of buying pressure hit in the last hour or so insiders in the know .........Yeha

JBmurc
11-05-2009, 11:39 AM
Great strength in the bids to start the day up another 2.5c or 10% with strong bids pushing bids into the weak sellers could well hit 30c today tomorrow ------------------------,end of year?? 50c+ plus if STX annouces what we all hope they will JV.........

mark100
11-05-2009, 11:46 AM
John Campell who writes the Oil and Gas Weekly reckons 65c by end of June is possible

JBmurc
11-05-2009, 12:21 PM
John Campell who writes the Oil and Gas Weekly reckons 65c by end of June is possible

be very nice if it even over 50c by then but yeah I read that as I get the O&G weekly

impacman
13-05-2009, 12:11 PM
STX granted CSG permit this morning.

http://www.asx.com.au/asxpdf/20090513/pdf/31hkrmd9cw279t.pdf

Cheers.

JBmurc
14-05-2009, 01:22 PM
Market pretty much priced in the 2tcf+ CSG permit by the looks of it 26c high----------------- goods news Via a JV or drilling dates will see it surge again through the next res 30c

ELYOB
15-05-2009, 04:05 PM
I feel that STX is a little over-rated ..... The CSG is a longterm thing , which could be put on the backburner like the USG asset . Prices in the USA for gas and condensate are low , but will keep the doors open . I see this ranging between 18-30c ..... could be a trader stock

JBmurc
15-05-2009, 06:31 PM
I feel that STX is a little over-rated ..... The CSG is a longterm thing , which could be put on the backburner like the USG asset . Prices in the USA for gas and condensate are low , but will keep the doors open . I see this ranging between 18-30c ..... could be a trader stock

Have to disagree as how many CSG companies have no actual production yet they have massive Mrktcap's STX isn't about to sit back for the rest of year ---------------------------
Strike said the joint venture was planning a drilling program for the prospect and hoped to secure regulatory approvals to start drilling in the September quarter.

The program will be designed to evaluate the gas content and productivity characteristics of the coal for the project’s future reserve and resource assessments.

Based on the coal intersections in old petroleum exploration wells and seismic surveys in the area, Strike Oil has estimated the coals could hold a potential prospective gas resource of 8-20 trillion cubic feet-------1 BCF was use to be valued round 5mill in ground value so 8+TCF we'll talking about serious large value-- billions


they will be drilling in the US again soon with their US JV partner ,also their very prime Carnarvon basin permit has a nice oil oil prospect they plan to farm-down an drill late 09-early 2010

then they've got their large kingston coal to liquid program which could will receive government funds and a JV partner to get it things moving ,maybe rights issue

they may sell their COI shareholding get 4mill+ to the bank

ETC ETC

bermuda
15-05-2009, 07:12 PM
Have to disagree as how many CSG companies have no actual production yet they have massive Mrktcap's STX isn't about to sit back for the rest of year ---------------------------
Strike said the joint venture was planning a drilling program for the prospect and hoped to secure regulatory approvals to start drilling in the September quarter.

The program will be designed to evaluate the gas content and productivity characteristics of the coal for the project’s future reserve and resource assessments.

Based on the coal intersections in old petroleum exploration wells and seismic surveys in the area, Strike Oil has estimated the coals could hold a potential prospective gas resource of 8-20 trillion cubic feet-------1 BCF was use to be valued round 5mill in ground value so 8+TCF we'll talking about serious large value-- billions


they will be drilling in the US again soon with their US JV partner ,also their very prime Carnarvon basin permit has a nice oil oil prospect they plan to farm-down an drill late 09-early 2010

then they've got their large kingston coal to liquid program which could will receive government funds and a JV partner to get it things moving ,maybe rights issue

they may sell their COI shareholding get 4mill+ to the bank

ETC ETC
JBmurc,
Agree entirely. This thing has serious grunt to it and in the next few months will get seriously rated upwards.....( You only have to see what happened to LMP once they got a sniff. ( a quick 8 to 18 cents ))

Plus the medium potential defies description. Dont know too much about their coals but the earlier drills looked pretty encouraging. A good result later this year could set this on fire. Australia is facing a severe energy shortage and CSG will become a household word.

I am glad I bought in. ( This could be similar to SXP ).

soulman
22-05-2009, 06:07 PM
I luckily sold STX at 24.5 cents on Tuesday this week just as it seems the 27 cents mark was the resistance for STX to get to the 30's. There were too many sellers on cue at the 25 cents area now and it looks like the run might cool down a bit.

JBmurc
23-05-2009, 03:25 PM
I luckily sold STX at 24.5 cents on Tuesday this week just as it seems the 27 cents mark was the resistance for STX to get to the 30's. There were too many sellers on cue at the 25 cents area now and it looks like the run might cool down a bit.

Yeah for now STX will trade in the 20c-24c ,The US gas price diving to $3.60 was a blow for STX's production cash-flow still future's look good an point to higher price maybe worth selling forward some of STX production for a hedge, like what PSA did successive....
STX management's goal is to make STX a cash-cow mid-cap they have been taking the safer slow n steady approach with low hype I've been a shareholder of STX for over 4yrs an theirs no-way I would sell out now not when eveything is falling into place,assets like the southern cooper 2tcf-20tcf CSG grounds will be the 38c breakout catalyst IMHO with J.V on their other major assets -Carnarvon basin OIL 100bbl+ & Kingston CTL being the next step also once US nat gas price get back to fair value STX will get back to drilling with their US J.V partner Cypress too keep production growing.
If things go STX way $2 will be cheap.........

- STX 5yr chart -their carnarvon basin permits --

Awamoa
29-05-2009, 07:05 PM
Announcement today that STX have sold 5.75m shares in Comet Ridge for $2.6m giving a profit of $1.4m which raises the funds required to explore Southern Cooper Project for this year.
I dont think the share price is going to linger much longer.Have stocked up with some more.
I am pinning my hopes on this one!

tobo
30-05-2009, 10:21 AM
been looking at this one for some time. Till now there was always something else distracting me (BOW,RFE and the whole ARU/LYC jumping jack thing).

Finally climbed in just on close last night, at what might end up being cheap (22 and 22.5c)

I think there are a O/G shares that could be volatile in response to whatever happens to POO in next few days. Long weekend limbo in NZ but, oops, I just realised it's not a long weekend in Aus til the following week.

JBmurc
01-06-2009, 04:52 PM
Announcement today that STX have sold 5.75m shares in Comet Ridge for $2.6m giving a profit of $1.4m which raises the funds required to explore Southern Cooper Project for this year.
I dont think the share price is going to linger much longer.Have stocked up with some more.
I am pinning my hopes on this one!

yeah was a good idea hopefully STX can off-load the rest of their COI position find it hard to believe COI can command a 20mill higher market-cap than STX ,STX assets are so much better as well as management as well as the fact STX has production given them a P/E-12
COI has more cash an some nice CSG permits
Time will reward the smart STX buyers may be holding over 600,000 next week if Sellers are stupid enough to keep selling down 20c-21c

soulman
01-06-2009, 05:20 PM
Don't know JB. The chart look sick and if the support breaks at 20 cents, I'll be loading up at 15 cents. Good luck.

JBmurc
02-06-2009, 06:29 PM
Don't know JB. The chart look sick and if the support breaks at 20 cents, I'll be loading up at 15 cents. Good luck.

15c LOL, just got another 90,000 I'll let you know couple mins before there's a 800,000 bid placed on STX which going by a ph-call before will be soon

Round up of STX drivers in the short term---

Strike Oil Limited (ASX: STX) today announced it had secured funding of $2.6 million for the initial phase of exploration of its highly prospective Southern Cooper coal seam gas project through the sale of 5.75 million Comet Ridge Limited shares at a profit of $1.4 million.
(Nice no need to touch their Cash balance)

-last Qtr 29-04-09 cash balance 12.8mill

-In nearly 3 weeks we have the expiry date of the 15 mil Strike Oil options from Cypress
(more cash for STX ?)

-Loan facilities 15mill-$9mill available 6mill used

-Proven USA reserves 9bcf Prob 65bcf in their US permits (which as more cash an higher Gas prices STX will drill more of their Prob reserves to proven )

-US oil & gas prices heading north again as well as market confindence

-Likely J.V on STX other prime OIL&GAS an CTL,CSG to be announced soon...

JBMurc -holding pently STX

bermuda
03-06-2009, 07:59 AM
15c LOL, just got another 90,000 I'll let you know couple mins before there's a 800,000 bid placed on STX which going by a ph-call before will be soon

Round up of STX drivers in the short term---

Strike Oil Limited (ASX: STX) today announced it had secured funding of $2.6 million for the initial phase of exploration of its highly prospective Southern Cooper coal seam gas project through the sale of 5.75 million Comet Ridge Limited shares at a profit of $1.4 million.
(Nice no need to touch their Cash balance)

-last Qtr 29-04-09 cash balance 12.8mill

-In nearly 3 weeks we have the expiry date of the 15 mil Strike Oil options from Cypress
(more cash for STX ?)

-Loan facilities 15mill-$9mill available 6mill used

-Proven USA reserves 9bcf Prob 65bcf in their US permits (which as more cash an higher Gas prices STX will drill more of their Prob reserves to proven )

-US oil & gas prices heading north again as well as market confindence

-Likely J.V on STX other prime OIL&GAS an CTL,CSG to be announced soon...

JBMurc -holding pently STX

JB,
This, as you know, has big bang potential. Have 500k and looking for more.

trackers
03-06-2009, 08:08 AM
Been researching this over the last few days, really like what I'm seeing (thanks JBMurc for your summaries in particular) , put in an order yesterday for a few.. When those drills go into the ground at PEL96 this thing is going to skyrocket

JBmurc
03-06-2009, 08:23 AM
JB,
This, as you know, has big bang potential. Have 500k and looking for more.

yeah thats a nice holding ,hoping between myself and me two mates who let me help invest their $$$ we should be holding between 1.5mill to 2mill shares soon.

As ramping as this sounds STX could well command a $2+ SP if their southern cooper CSG tenaments turn's out to be a major CSG feild's just waiting on a drilling rig now should be drilling by sept.

JBmurc
16-06-2009, 09:33 AM
the 23.06.09 expiry date for the 15 mio. Cypress EP options is something that greatly interests me esp. as we'll only days away...I'm betting on a positive announcement before the weeks out ......

Cypress who's in partnership with STX in their operation of drill&developing in the USA.

Could we see a merger like COI recently with the merged company commanding a 50bcf+ reserve.

Could be a real positive to both companies STX gaining reserves larger US interest great operating experiences -Cypress gaining STX's prime AUS exposure diversify their portfilo into OIL,CSG,CTL -increased Insto support etc


Also I see Nat GAS up 8% overnight.

If your've been thinking bout buying into STX I wouldn't wait round...

JBmurc
30-06-2009, 03:03 PM
STX just released a new presentation-

http://www.strikeoil.com.au/media/2009_06_30_Corporate_Presentation.pdf


-Looking forward STX will be drilling in the S.cooper basin in sept followed by a 3 drill program in their US permits starting in Oct.

-Other news to be announced will be on their prime shallow water Carnarvon permit with a J.V ann. to follow, drilling unlikely this year still early next year should be fine

Ketel One
30-06-2009, 03:54 PM
STX just released a new presentation-

http://www.strikeoil.com.au/media/2009_06_30_Corporate_Presentation.pdf


-Looking forward STX will be drilling in the S.cooper basin in sept followed by a 3 drill program in their US permits starting in Oct.

-Other news to be announced will be on their prime shallow water Carnarvon permit with a J.V ann. to follow, drilling unlikely this year still early next year should be fine

Pretty much the same presentation as the one they released start of april. Was worth the read again though for a reminder of just how much potential STX have.

Share price has been drifting down a little over the last month or so, but looks to have support at 18c:
http://iforce.co.nz/i/vabhlzv2.png

Am happy to hold atm.

shasta
30-06-2009, 07:37 PM
Pretty much the same presentation as the one they released start of april. Was worth the read again though for a reminder of just how much potential STX have.

Share price has been drifting down a little over the last month or so, but looks to have support at 18c:
http://iforce.co.nz/i/vabhlzv2.png

Am happy to hold atm.

Am looking at re-entering STX again, with a longer term view.

STX will need a well funded buddy down the line to get Futurgas up & running, but plenty of gas to commercialise before that happens...:rolleyes:

impacman
01-07-2009, 09:08 AM
Am looking at re-entering STX again, with a longer term view.

STX will need a well funded buddy down the line to get Futurgas up & running, but plenty of gas to commercialise before that happens...:rolleyes:

Hi Shasta hope all is well in Wellies! Probably the perpetual question ... but what timeframe do you have in mind when you indicate long term with STX? Just asking out of interest really - I hold and am taking a 2 year view at this stage.

Are we going to see you at the Horse and Trap on Sat 11th?:D

Cheers

JBmurc
01-07-2009, 09:26 AM
Hi Shasta hope all is well in Wellies! Probably the perpetual question ... but what timeframe do you have in mind when you indicate long term with STX? Just asking out of interest really - I hold and am taking a 2 year view at this stage.

Are we going to see you at the Horse and Trap on Sat 11th?:D

Cheers

Bout time you brought some STX shasta going be penalty going on for the 2nd half of the year with at least 4 drill going ahead atm.
And being able to pick up sub 20c has got to be good thing.
I myself have been holding STX for 3yrs now will beholding at least for another 2yrs unless it's SP is over $10 I wont be selling till the future dosen't look so bright atm it does with at least 3 different company making projects on the books...
Currently I've been posting on the Sharescence STX thread as theirs alot of smart STX'er holders on their atm..

shasta
01-07-2009, 01:03 PM
Hi Shasta hope all is well in Wellies! Probably the perpetual question ... but what timeframe do you have in mind when you indicate long term with STX? Just asking out of interest really - I hold and am taking a 2 year view at this stage.

Are we going to see you at the Horse and Trap on Sat 11th?:D

Cheers

I havent bought in just yet :o

I wouldnt place an actual time period on it, but the STX fundamentals will take a while to be fully realised by the market, that includes the Futurgas project. 2 years could well be on the money, though i'll wait & see!

Agree with JBMurc sub 20c is a steal :cool:

I have said to Strat i'll try & make an Auckland meet, but i'm having x-rays & an mri on my troublesome knee next week, & aren't overly mobile yet.

I'm still looking at getting to an Auckland & Chch meet this year

PS, Wellington is so cold, even Polar Bears would be wearing jerseys :D

JBmurc
01-07-2009, 05:01 PM
Well just got off the phone talking with Tony

Like I thought, the Baniyas drill would be early next year at the earliest ,Even tony agreed it wouldn't be likely this year.

It does sound like both CVN,PCL are keen to drill ,personal I think they all want to farm down the first drill-Chevron holds a permit that some of the baniyas structure enters into,maybe a farm-in with chevron??

Also like I was saying in a previous post STX aren't looking at raising funds any time this year esp because of the SP.

The current goal is to drill at S.cooper first followed by the US 3 drill program while the US drill costs are very low 2.5-3m compared to 5m+

they will hopefully by the time the US drill are over have a drill rig & J.V paying partner for the Baniyas structure

(b) EP 424 / EP 110 - Australia Offshore NW Shelf

(Carnarvon Petroleum 35%, Strike Oil 40% and operator, Pancontinental 25%)


A variation to the permit terms of EP 424 has been requested from the Department of Industry


and Resources to alter the requirement for the drilling of one well by 13 April 2009. The

Operator, Strike Oil, is still waiting a formal response.

impacman
01-07-2009, 06:01 PM
Thanks for that JB Murc - I have order in to double my holding (at 18c) so your information does nothing but support that decision. It is a long term hold for me (I have decided long term is 2 + years in my glossary as I can't pin down a universal definition). To be honest short of bad news indicating a tank, I will be in for however long it takes - I won't complain if it takes off well before my timeframes though:rolleyes:

Shasta I look forward to catching up when you are able to come up to Auckland for a meeting - we can have a beer discussing the amazing upward movement of STX:D

shasta
01-07-2009, 08:33 PM
Thanks for that JB Murc - I have order in to double my holding (at 18c) so your information does nothing but support that decision. It is a long term hold for me (I have decided long term is 2 + years in my glossary as I can't pin down a universal definition). To be honest short of bad news indicating a tank, I will be in for however long it takes - I won't complain if it takes off well before my timeframes though:rolleyes:

Shasta I look forward to catching up when you are able to come up to Auckland for a meeting - we can have a beer discussing the amazing upward movement of STX:D

I dont know if you read Shrewd's "USA Oilerss thread, but i've previously been in STX, very smart management & plenty of gas!

In fact i've held previously the 3 most profitable ASX listed US based oilers in STX, PSA & AMU.

I've been going back over all my ex holdings at the moment, trying to unravel some bargins, & STX fits that bill IMO.

PS, Looking forward to eventually heading up north to meet with the locals

JBmurc
21-07-2009, 10:07 AM
Australia needs many energy options: MPSteve Gray
July 20, 2009 - 8:19PM
Australia needs a broad range of options to meet domestic and export demand for energy, federal Energy Minister Martin Ferguson says.

The options include coal, liquefied natural gas (LNG), alternate fuels, uranium, wind, solar and geothermal energy which all must be developed as quickly as possible, Mr Ferguson told the bi-annual QREX resources conference in Rockhampton on Monday.

He said an insatiable thirst for energy meant its security was one of the main issues confronting Australia and the world.

Australia, as the world's largest exporter of coal, the second largest exporter of uranium and the fifth largest exporter of LNG, was front and centre of the energy debate.

"Australia is being recognised as an emerging energy superpower," he said, adding that gas would be an important transition fuel for both this country and Asia.

"In the context of energy security, climate change and economic recovery, further development of Australia's LNG industry is one of my top priorities," he said.

The coal seam gas industry was developing rapidly and Australia could be the first country to export LNG produced from coal seam gas, he said.

China's LNG imports were forecast to double this year and grow another 50 per cent in 2010.

Mr Ferguson said while Australia does not need a domestic nuclear power industry, the government strongly supported the expansion of uranium mining.

He predicted Queensland would also have uranium mines "in due course" despite the continued opposition of the Bligh government.

Mr Ferguson said Australia also had a diversity of renewable energy options, including wind, solar, geothermal and wave technologies.

"The government has mandated that 20 per cent of our electricity will come from renewables by 2020," he said.

"That is a given."

He said coal and gas would remain the mainstays of the domestic industry, and consumption would enhance export opportunities.

"In recent years, China has been adding nearly three times Australia's entire grid capacity in new coal-fired generation every year," he said.

Coal-to-liquids and gas-to-liquids could play a major role in Australia's energy future.

"If the energy supplies of Australia and our trading partners are to remain secure, then each and every one of these energy resources must be developed as fast as possible," Mr Ferguson said.



---STX's CTL project at kingston could well suprise as all with a J.V partner announcement

mattyroo
05-08-2009, 09:58 AM
Nice to see it break that resistance at 22c. Hopefully it can sustain that, with the next resistance at 25c, and significant resistance at 26c.

Pleased I sold out of CVN and bought these, CVN has dropped ~25% in that time and STX has risen ~40%.

Onward and upward.

JBmurc
13-08-2009, 05:34 PM
Nice to see it break that resistance at 22c. Hopefully it can sustain that, with the next resistance at 25c, and significant resistance at 26c.

Pleased I sold out of CVN and bought these, CVN has dropped ~25% in that time and STX has risen ~40%.

Onward and upward.

great work mate them the trades.

As for STX the CSG drill will lift market interest news on spud date etc will be released soon

shasta
17-08-2009, 03:42 PM
great work mate them the trades.

As for STX the CSG drill will lift market interest news on spud date etc will be released soon

STX - South Australia Future Energy Conference Presentation

http://www.stocknessmonster.com/news-item?S=STX&E=ASX&N=456761

Highlighting the FuturGas project potential (CSG, UCG, CTL)

Simon Ashton is a very active, astute leader, who ensures STX gets plenty of attention.

For those with a longer term view, this presentation is a must read.

JBmurc
25-08-2009, 02:10 PM
Some interest again today looking solid at 24c am picking a positive announcement very soon insider getting a jump today up 6% so far

mattyroo
26-08-2009, 12:33 PM
Some interest again today looking solid at 24c am picking a positive announcement very soon insider getting a jump today up 6% so far

Up 6% thus far today, looking at the depth it appears the bots are at work, accumulation underway. Hopefully can get some good volume above 26c and hold there, turning that resistance into support.

Dusty
26-08-2009, 12:43 PM
Up 6% thus far today, looking at the depth it appears the bots are at work, accumulation underway. Hopefully can get some good volume above 26c and hold there, turning that resistance into support.

Yeah a close above 26c would be great, buyers to sellers ratio 4:1.

brettdale
26-08-2009, 03:01 PM
This thing has trouble getting past thirty though, if I was a holder an it got to 26, I would sell.

JBmurc
26-08-2009, 06:19 PM
This thing has trouble getting past thirty though, if I was a holder an it got to 26, I would sell.

LOL your've aready sold at half that price -I'm more than happy to hold at these levels with so much more to happen before the years over I'll let the buyers decide fair value-- CSG & Oil drilling to come over the next couple Qtr's It's highly likely the market will re-rate STX a new SP high with them moving outside their successive US Nat gas discovery's into a much more liked by the current market view of OIL CSG GAS in Aussie

- I remember STX breaking through 40c after their very first Gas discovery in the US

-STX now have in the pipeline

STX have PROSPECTIVE WILCOX GAS RESOURCE-36BCF(in the other Gas bearing zones)
2p-9.5BCF
Strike Oil's US Gas Targets on current prospects 200 Bcf potential)

Aussie Oil @ baniyas-7bbl -37bbl ----Gas 22Bcf -92Bcf P90- P10 STX 40%

Cooper south CSG 8-20TcF P90-P10 STX-66.7%

Coals to Liq- JORC Coal 578mt 10,000bbl per day potential STX-100%


Currently solid 3month breakout with good bid depth in place--

JBmurc
27-08-2009, 03:21 PM
The Southern Cooper Project is traversed by Epic Energy’s Moomba to Adelaide gas pipeline which is
“open access” and has 55 Pj per annum (150 Terajoules per day) spare capacity. The pipeline together
with other infrastructure in the area provides easy access to the eastern states gas market.
Underground Coal Gasification currently forms a secondary target. The potential of this resource will be
evaluated after the drilling program when further data on the coals is obtained.


The next stage of evaluation of the Southern Cooper Project will be the drilling of three wells which have
been designed with the assistance of MBA to core the coal bearing formations to enable further analytical
tests to evaluate their CSG potential.
Tenders have been called for drilling and associated services and a decision on the selected drilling rig
will be made in the next two to three weeks.
This drilling program is scheduled to commence in November or December 2009, subject to regulatory
approval.
Participants in the PEL 96 joint venture are:
 66.7%: Strike Oil Limited (Operator)
 33.3%: Australian Gasfields Limited
(subsidiary of Energy World Corporation Limited)

Ketel One
27-08-2009, 05:12 PM
Has gone cleanly through resistance at 26c, next resistance at 30c:

http://www.iforce.co.nz/i/wu3nmtft.png

Awamoa
31-08-2009, 06:47 PM
A quick summary of todays announcement.
$41.2m Total Revenue
$36.4m Oil & Gas Revenue
$24.5m EBITDAX
$10.2m Net Profit
$13.3m Cash on Hand
Simon Ashton states he expects the 2010 finacial year to be a significant one for the Company.
It all sounds good to me.

seaosh
27-10-2009, 04:00 PM
Quite a drop today on higher than average volume (at least for the past couple of months). Some negative news about to come out?

I didn't like the look of today's weakness and sold off about half my holding - locking in some profits. I'm still holding a bit though, and long term it still looks promising.

JBmurc
27-10-2009, 04:21 PM
yes I sold down my beloved STX awhile ago didn't see the growth in the short term above 25c still I agree with S.A 2010 should be alot better for STX 40c+ early 2010 may well be a good time to increase my holding again if it dips to the 19.5c-21c region

STRAT
29-10-2009, 11:57 AM
STX SP down to 18c today.

Anyone know anything?

Im thinkin of having a dabble

impacman
29-10-2009, 12:04 PM
STX SP down to 18c today.

Anyone know anything?

Im thinkin of having a dabble

Looking at the sea of red I would say it is just part of the general sell down of non defensive stocks. News has been scarce of late as well and some drilling has been pushed out to early next year from Nov this year. Nothing has changed in terms of fundamentals from what I can see. Probably not a bad buy for your purposes I would think.

Cheers

STRAT
29-10-2009, 12:13 PM
Looking at the sea of red I would say it is just part of the general sell down of non defensive stocks. News has been scarce of late as well and some drilling has been pushed out to early next year from Nov this year. Nothing has changed in terms of fundamentals from what I can see. Probably not a bad buy for your purposes I would think.

CheersThanks Iman.

gotta ask though. What would my purposes be? :D

anyway looks like another Direct Broking glitch cause there had been no trades below 22c at the time of my last post even though the screen shot said 18c. Then it went to 19.5 and now 21c but there have been no trades below 19.5c

JBmurc
29-10-2009, 12:21 PM
the sell down to 18c must have been quick as the bid depth looks better again now current S/P 21c not alot in the offers till 23c glad to have sold most at 24c av would have been great buying sub 20c IMHO even though I'm not counting out futher world market sell-downs

impacman
29-10-2009, 12:28 PM
[QUOTE=STRAT;279527]Thanks Iman.

gotta ask though. What would my purposes be? :D


More your focus being slightly more short term (generally) - going with the market kind of thing, rather than my more LT horizon. See nothing more sinister than that:D

Hadn't realised that DB was playing up but makes sense as things seem to have bounced back from when I first saw them (bit of a shock that was!)

Cheers

mattyroo
13-11-2009, 08:01 AM
anyway looks like another Direct Broking glitch cause there had been no trades below 22c at the time of my last post even though the screen shot said 18c. Then it went to 19.5 and now 21c but there have been no trades below 19.5c

Strat - there defiinitely was trades that went through below 19.5 then - as I picked up 40k @19c. Gotta admit I did kinda sh*t myself though when that order got hit, as I certainly wasn't expecting it to! Now I wish my order had been 5 times 40k!

Been a very pleasant ride back up ever since, and the break above the 27 mark over the last couple of days is very encouraging. Next stop 40c by christmas?

STRAT
13-11-2009, 12:45 PM
Strat - there defiinitely was trades that went through below 19.5 then - as I picked up 40k @19c. Gotta admit I did kinda sh*t myself though when that order got hit, as I certainly wasn't expecting it to! Now I wish my order had been 5 times 40k!

Been a very pleasant ride back up ever since, and the break above the 27 mark over the last couple of days is very encouraging. Next stop 40c by christmas?Good on ya Matty.
Though it pisses me off Direct B cost me a good trade there :mad:
I was Johnny on the spot but running blind with bad feed from my broker.

JBmurc
15-12-2009, 08:10 PM
Lincoln Indicators' Stock Doctor research software tracks the financial health of more than 2000 Australian Securities Exchange-listed companies (based on the most recent half and full-year reported result) and assesses each company's financial health and level of financial risk. Stocks are analysed against a series of key indicators, including financial health, management, share-price value, liquidity, share-price trend and market capitalisation. For those reasons, he says, the software suits fundamental investors looking to identify stocks with improving prospects in their business.

D'Amato categorises Stock Doctor's best "hot stock" candidates for next year in the following fashion: best small-cap stock, Strike Oil (ASX code: STX);

lakeys
15-12-2009, 09:59 PM
Yes and did you see the announcement today. they got 70% more southern cooper well positioned acreage and drilling is starting in Jan 2010 in the PEL 96 permit.( Stike) csg and oil (energy)

Awamoa
05-01-2010, 01:59 PM
Looks as if it is starting to break out.Lets go.

JBmurc
05-01-2010, 06:13 PM
Looks as if it is starting to break out.Lets go.

Too right I really think we'll see STX make new all time highs this year short term 40c+ likely with so much drilling an deals likely to unfold this year for STX
I see Huntley gave them a $2+ risked valuation on their current assets an permits
excluding all Cooper assets and Phillipines

now a $2 SP would be great

bermuda
05-01-2010, 06:40 PM
Too right I really think we'll see STX make new all time highs this year short term 40c+ likely with so much drilling an deals likely to unfold this year for STX
I see Huntley gave them a $2+ risked valuation on their current assets an permits
excluding all Cooper assets and Phillipines

now a $2 SP would be great

I remember a couple of years ago sitting in a oil conference listening to Ashton. The price was then about 12 cents. I got so excited I nearly left the room to buy some. This is one of the most well balanced, highly profitable small ENERGY company on the Aussie market....and with oodles of potential in different energy plays...

So pleased I got another 200k for my wife. Have another 500k put away in a trust until 2012. ( or $2.00 whichever comes first ).

Awamoa
11-01-2010, 03:55 PM
And up she goes.I have been waiting a few years for this.
Bermuda your wife might owe you a shout or something!

bermuda
11-01-2010, 09:12 PM
And up she goes.I have been waiting a few years for this.
Bermuda your wife might owe you a shout or something!

My wife and daughters are the most non capitalistic people you will ever meet. Unbelievable. I have to do all this on my own.lol.

Had a good night down at the Lone Star with a few Sharetraders in CHCH NZ. It was a good meeting with lots of different discussions. About 7 turned up. We are making it a monthly occasion. First Monday of the month.

Strike Oil would have to be my favourite ENERGY stock. Got a lot going for it. You don't get them much better than this.

gazprom1
11-01-2010, 09:19 PM
Bermuda,

Are the meetings open to all?? Would like to attend if possible!

Thanks
Gazprom

bermuda
11-01-2010, 10:06 PM
Bermuda,

Are the meetings open to all?? Would like to attend if possible!

Thanks
Gazprom

STRIKE me dead!

The more the merrier. First Monday of the month.
Lone Star, Bush Inn, Chch.

ALL WELCOME.

Not a bad stock this STRIKE eh?

Dusty
13-01-2010, 01:06 AM
http://imagesignal.comsec.com.au/asxdata/20100112/pdf/01028599.pdf

1st Q an exciting time to be in this small cap, weighed up STX and BUL when deciding the best way to get small cap energy exposure. Glad I chose STX at 26c, Bul having some great permits but I think STX is the superior company in better financial shape and superior management.
Although it has great potential the Bul story will take longer to play out.

JBmurc
18-01-2010, 04:56 PM
I mean mill:)

ACTIVITIES UPDATE
Strike Energy (ASX:STX) is pleased to provide the following update on its activities.
USA
Bateman Lake Joint Venture (Louisiana)
The Driskill Land Co 1 well spudded on 15 January 2010 and is drilling ahead at 918 feet (280m) on 16 January 2010. Proposed total depth is 8,933 feet (2,723m) with a drilling period of 10-12 days. Strike will earn a minimum interest of 12.6% in this prospect, which has a prospective gas resource potential of 15 to 25 billion cubic feet (Bcf)
Eaglewood Joint Venture (Texas)
Advanced preparations are underway to commence drilling two wells on new prospects which lie on the same trend as the existing successful Joint Venture’s producing projects Mesquite and Rayburn. These two new prospects are similar in nature to the Mesquite and Rayburn discoveries being also in the prolific Wilcox Formation. One has a potential gas resource of 30 Bcf and the other 100 Bcf. Strike has a 30% Working Interest in these prospects.
Production and Revenue
Strike’s share of current production is 700 barrels of oil equivalent per day. This is in line with the Company’s expectations. This level of production provides about AUD$1.3 million of gross revenue per month to Strike at current oil and gas prices.
Australia
Southern Cooper Coal Seam Gas Project (South Australia)
The coal seam gas drilling in the Southern Cooper Basin permit PEL 96 is scheduled to start in mid-February 2010. This is later than anticipated due to the heavy rains in Queensland which has delayed the project from which Strike will take the drilling rig.
OUR STRENGTHS
• High margin producer
• Multiple large scale growth options
• Experienced team
• Long term track record of success
Strike Energy Limited
Level 9, Wesfarmers House
40 The Esplanade
Perth WA 6000
T: 61 8 6103 0999
F: 61 8 6103 0990
E: strike@strikeenergy.com.au
www.strikeenergy.com.au
Strike Energy Limited
Page | 2
Strike Energy Limited ABN 59 078 012 745 18 January 2010
New Business
Cadlao Oil Field (Philippines) - Blade Petroleum acquisition
Due diligence and evaluation of the Cadlao Oilfield, (2P reserves of 6.3 million barrels) is continuing. This process is expected to be completed by the end of January 2010, when a decision will be taken on whether to exercise the option to acquire the project.
Yours faithfully
SIMON ASHTON
Managing Director

evilroyrule
18-01-2010, 05:42 PM
hi jb, yeah that announcement got my attention today too. im still watching, but looks like its broken its recent down trend. not sure whether to go pen/stx or roc at this stage?? see acb had a nice day today!

shasta
18-01-2010, 05:43 PM
I mean mill:)

ACTIVITIES UPDATE
Strike Energy (ASX:STX) is pleased to provide the following update on its activities.
USA
Bateman Lake Joint Venture (Louisiana)
The Driskill Land Co 1 well spudded on 15 January 2010 and is drilling ahead at 918 feet (280m) on 16 January 2010. Proposed total depth is 8,933 feet (2,723m) with a drilling period of 10-12 days. Strike will earn a minimum interest of 12.6% in this prospect, which has a prospective gas resource potential of 15 to 25 billion cubic feet (Bcf)
Eaglewood Joint Venture (Texas)
Advanced preparations are underway to commence drilling two wells on new prospects which lie on the same trend as the existing successful Joint Venture’s producing projects Mesquite and Rayburn. These two new prospects are similar in nature to the Mesquite and Rayburn discoveries being also in the prolific Wilcox Formation. One has a potential gas resource of 30 Bcf and the other 100 Bcf. Strike has a 30% Working Interest in these prospects.
Production and Revenue
Strike’s share of current production is 700 barrels of oil equivalent per day. This is in line with the Company’s expectations. This level of production provides about AUD$1.3 million of gross revenue per month to Strike at current oil and gas prices.
Australia
Southern Cooper Coal Seam Gas Project (South Australia)
The coal seam gas drilling in the Southern Cooper Basin permit PEL 96 is scheduled to start in mid-February 2010. This is later than anticipated due to the heavy rains in Queensland which has delayed the project from which Strike will take the drilling rig.
OUR STRENGTHS
• High margin producer
• Multiple large scale growth options
• Experienced team
• Long term track record of success
Strike Energy Limited
Level 9, Wesfarmers House
40 The Esplanade
Perth WA 6000
T: 61 8 6103 0999
F: 61 8 6103 0990
E: strike@strikeenergy.com.au
www.strikeenergy.com.au (http://www.strikeenergy.com.au)
Strike Energy Limited
Page | 2
Strike Energy Limited ABN 59 078 012 745 18 January 2010
New Business
Cadlao Oil Field (Philippines) - Blade Petroleum acquisition
Due diligence and evaluation of the Cadlao Oilfield, (2P reserves of 6.3 million barrels) is continuing. This process is expected to be completed by the end of January 2010, when a decision will be taken on whether to exercise the option to acquire the project.
Yours faithfully
SIMON ASHTON
Managing Director

I hope everyone caught that sneaky bit at the end, re the Phillipines oilfield.

If STX take on the option, this would boost revenues big time

evilroyrule
18-01-2010, 05:48 PM
wondering shasta if that could be the driver for recent accumulation and sp increase? 20% LAST 4 weeks.

evilroyrule
24-01-2010, 06:11 PM
stx set to fly

STRIKE ENERGY LTD
Proposed Acquisition Could Add Significant Value
Strike Energy Limited (Strike, STX, Company) recently announced that it
has acquired an option to purchase 100% of the equity in unlisted Blade Petroleum Ltd (Blade). The deal is subject to completion of due diligence by the 31st Jan 2010. Consideration is $10m in Strike shares at an issue price of
$0.30 with two additional tranches of $5m in cash dependent upon free cashflow milestones being achieved from Blades assets. Blades only asset is an 80% interest in Service Contract 6 (SC6) located
offshore in the Philippines. The block contains the Cadlao oilfield, which
produced 11 million barrels between 1981 and 1991. Independent consultant
RISC has estimated remaining 2P reserves of 6.3 million barrels using an
average oil price assumption of US$74/bbl (1P reserves 3.6 million barrels). Base Case Development Option Worth US$65m or 20cps
The Company is yet to release capital estimates for a proposed development option; however, historical information released by Blade and numbers for a nearby development proposed by Nido Petroleum Ltd put upfront capital estimates at between US$20-US$40m. Phase 2 capex (U$60m) would be funded from free positive cashflow. We have included only a notional amount for Cadlao in our valuation until the deal is finalised. The following scenarios
below give an indication of potential value.
Scenario
Reserves
(mmbbl) Phase 1
Capex
Phase 2
Capex
Opex p.a. Net Present Value Low 3.6 $50m $0m $60m ($5m)
Base 6.2 $40m $60m $54m $81m High 7.5 $40m $60m $54m $126m Source: Hartleys, 10% Discount Rate, Oil Price US$75, all numbers 100% project in USD
Asset Pipeline Attractive
Strike has producing assets in the USA, which are cashflow positive and has a strong balance sheet with A$13m in cash and A$6m debt. Up to 10 exploration wells are planned for CY2010 over two joint ventures. Drilling has commenced at one of the joint ventures and the other is scheduled to start in Feb 2010. Strike is due to commence core hole drilling at its Southern Cooper coal seam gas (CSG) permit PEL96 in Feb 2010 (STX 66.7%). Initial findings should be available by mid 2010. A positive result could be transformational as the independent net resource estimate is 5,000-13,000 petajoules of gas in place. The acquisition of Blade, with its near term development project, could provide additional revenue by the end of CY2010 (we believe more likely Q1 2011).
The Company has an interest in a shallow oil prospect, located in the
Carnarvon Basin that could be drilled later this year, pending current
negotiations. In addition, Strike has a 100% owned JORC compliant coal resource in South Australia that is suitable for above ground gasification. Many Catalysts, Significant Upside from Drilling / Development
Strike is set to have a very busy CY2010, with exploration drilling in the USA,
appraisal drilling for coal seam gas in Australia, possible shallow offshore oil exploration in Australia and likely development of the Cadlao oilfield in the Philippines. Even moderate success at one of these four projects should result in significant share price appreciation. We rate Strike as a Buy, with a short-
term price target of 43cps.

from hrtleys report

scorp57
24-01-2010, 06:27 PM
Saw that today on HC too!

Impressive! gonna get in on the current weakness!

STRAT
25-01-2010, 10:30 PM
Saw that today on HC too!

Impressive! gonna get in on the current weakness!Did you buy any Scorp?

I bought some early in the day.

scorp57
26-01-2010, 12:29 AM
Did you buy any Scorp?

I bought some early in the day.

Nah mate, gonna be a later in the week purchase. I love STX though, and they are def high on my to buy list.

good recovery today too by the way... always a sign of a good stock.

evilroyrule
29-01-2010, 03:43 PM
positive announcement out. get on this pony.
sorry, cant post link. you all knw how to find them.

scorp57
29-01-2010, 04:11 PM
Hell yeh!
In at 28.5c!!

evilroyrule
29-01-2010, 04:45 PM
just you and me scorp. not too concerned 1 2 or even 3 cents either way at this stage. this is definitely a mid term hold. cant believe there one else there though! still, everone is getting such a reeming trepidation is understandable. wld be interested in overall asx volume today. seemed light early on.

scorp57
29-01-2010, 09:15 PM
Yeh it against my strategy market-wise, but I have been watching STX for ages, and thought today was time to pounce.

Feel very comfortable holding, and looking fwd to geting more!

evilroyrule
29-01-2010, 09:39 PM
geez you knw scorp im kinda wondering if i was too early. im also wondering if i shld have taken my mone off the table and gone and built some houses for a while. still, looks like a correction to me (just not too deep i hope!) given its really come on the back of no really bad news.

Dusty
02-02-2010, 08:53 AM
STX looks way oversold to me, Bateman was plugged but with two futher wells due to spud in feb, the 30bcf Louise project due to commence drilling in the next few days I am going try get in at 24.5
2010 will be a stockpickers year and STX looks like a high quality small cap to me

shasta
02-02-2010, 12:21 PM
STX looks way oversold to me, Bateman was plugged but with two futher wells due to spud in feb, the 30bcf Louise project due to commence drilling in the next few days I am going try get in at 24.5
2010 will be a stockpickers year and STX looks like a high quality small cap to me

Yup you're bang on, very oversold, last time it got this low the SP bounced from 18c to 30c quite quickly.

PS, Notice the volume spike?

https://www.directbroking.co.nz/cgi-bin/sparkle.dll/superchart?template=dblsuperchart&session=0&instrument=STX&exchange=ASX&period=6M&adj=yes&vs=LINE&ct=CANDLE&compi=&ma1=30&ma2=180&bb=&ind=RSI&ra=2

STRAT
02-02-2010, 12:28 PM
I bought some of these a few days back @ 27.5 and decided to ignore my stop loss when it gapped down yesterday.

Hi Shasta.
A bit of TA there :D

Not sure I would trust the DB chart. I dont show it there yet

shasta
02-02-2010, 12:30 PM
I bought some of these a few days back @ 27.5 and decided to ignore my stop loss when it gapped down yesterday.

Hi Shasta.
A bit of TA there :D

Not sure I would trust the DB chart. I dont show it there yet

Strat

Could you please add volume to your charts

DB charts aren't that accurate, but the general gist is the same!

STRAT
02-02-2010, 12:40 PM
Strat

Could you please add volume to your charts

DB charts aren't that accurate, but the general gist is the same!here you go

shasta
02-02-2010, 12:43 PM
here you go

Cheers for that.

Dumb question, what are the dots on the chart?

STRAT
02-02-2010, 12:46 PM
Cheers for that.

Dumb question, what are the dots on the chart?Not dumb at all. I dont have coloured volume like P so I mark significant up days with a dot. Notice yseterday is the first significant down day volume wise in quite a while. A bit of a worry but Im glad I pulled my stop loss yesterday as STX seems to have bounced today. Tomorrow may be a different story

shasta
02-02-2010, 12:49 PM
Not dumb at all. I dont have coloured volume like P so I mark significant up days with a dot

Thanks again

The fundamentals stack up for STX, so i'm following the TA closely on it ;)

STRAT
02-02-2010, 12:55 PM
Thanks again

The fundamentals stack up for STX, so i'm following the TA closely on it ;)I always like a good fundie story. I was a bit late getting with the program though and timing, well we will see :eek:

scorp57
02-02-2010, 11:54 PM
I always like a good fundie story. I was a bit late getting with the program though and timing, well we will see :eek:

I seem to have a bad habit of buying a day early. i payed 28.5 instead of 24 etc... but oh well, in the long run I am happy with my purchase. If i see more down days in this correction i will top up.

STX has too much going for it... sort of like BOW...

I just cant see it not having its day in the sun...

STRAT
03-02-2010, 01:32 PM
... sort of like BOW...

.
and BUL sorta like VPE? :D:D:D:D

scorp57
03-02-2010, 03:47 PM
and BUL sorta like VPE? :D:D:D:D

indeed it is

evilroyrule
11-02-2010, 06:48 PM
stx starting to get its groove on. are we expecting news re drilling anytime soon?

evilroyrule
19-02-2010, 12:30 PM
some good news. yay! time to double up?

JBmurc
19-02-2010, 12:35 PM
some good news. yay! time to double up?

Yeah good news be even better if my stoploss wasn't triggered selling just under half my STX holding sub 25c bloody stoplosses having a rotting run of luck lately also stoploss on CFE was triggered selling half which I'm not so worried about with whats going on there atm

picked up some more MPO ROC of late

evilroyrule
19-02-2010, 12:41 PM
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.

Awamoa
19-02-2010, 12:46 PM
Good news and the share price does nothing.Strange.In normal times you would think this would inspire punters to load up.

evilroyrule
19-02-2010, 12:50 PM
yo! we up 22%. WHAT YOU LOOKING AT