stx Strike Oil

[JBmurc]

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]

John Campell who writes the Oil and Gas Weekly reckons 65c by end of June is possible

[JBmurc]

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]

STX granted CSG permit this morning.

http://www.asx.com.au/asxpdf/2009051...rmd9cw279t.pdf

Cheers.

[JBmurc]

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]

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]

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]

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]

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]

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 --