Ann: Trading Halt, page-261

Thought I would give you a little space to pick yourself up and dust yourself off after your predictions about the TPD quarterly left you with that much egg on your face that you have probably only just finished cleaning it off.

Regarding STX, TBH, it's getting murkier. I have put a little list together which I will call "The STX Shopping List", here's what is on it that I know about:-

1. Current drill program, SE 100%, WE 50%
2. Ocean Hill seismic 100%
3. WE processing plant and pipeworks 50%
4. SE processing plant and pipeworks 100%
5. Ocean Hill & EP447 exploration program OH 100% EP447 55% TPD 45%
6. Ocean Hill processing plant and pipeworks 100%

The shopping list is not definitive but my question for you is how much debt will STX have to take on before they can start self-funding any part of the shopping list? And can STX afford that much debt? I won't mention the "CR" word, we know how much you dislike them.

With your well established reputation for cashflow analysis, this should be a doddle for you, yes?