stx Strike Oil

[Dazza]

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]

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]

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]

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]

jb - sold ekao for umm 25 cents and 18 cents, brought for 7 cents

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]

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]

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]

-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]

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]

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