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Member
stx Strike Oil
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
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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
"With a good perspective on history, we can have a better understanding of the past and present, and thus a clear vision of the future." Carlos Slim Helu
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STX - 10,000 traded at 20c , up 60% under a month with more to come
"With a good perspective on history, we can have a better understanding of the past and present, and thus a clear vision of the future." Carlos Slim Helu
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Member
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.
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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
"With a good perspective on history, we can have a better understanding of the past and present, and thus a clear vision of the future." Carlos Slim Helu
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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?...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
"With a good perspective on history, we can have a better understanding of the past and present, and thus a clear vision of the future." Carlos Slim Helu
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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."
"With a good perspective on history, we can have a better understanding of the past and present, and thus a clear vision of the future." Carlos Slim Helu
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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
"With a good perspective on history, we can have a better understanding of the past and present, and thus a clear vision of the future." Carlos Slim Helu
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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
"With a good perspective on history, we can have a better understanding of the past and present, and thus a clear vision of the future." Carlos Slim Helu
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