ewob - the link to the Peter Strachan stock analysis report is no longer valid as it looks like a free sample (which they update over time) but heres an extract that came from a previous post (i think on XST thread originally)
Peter Strachan- http://www.stockanalysis.com.au/samples/sample1.pdf
"Interestingly, XState Resources (XST), which has a 10% interest at Sidi Daher relies on estimates made in its independent technical expert?s report at the time of its prospectus issue. XState estimates target mean reserves at Sidi Daher of 310 mmbbls of oil plus 42 Bcf of gas. This is in sharp contrast to estimates used by ADX Energy which work on a prospect of 175 Bcf of gas plus 44 mmbbls of oil at depth, in the case that oil is found. Clearly XState?s expert was much more bullish on the prospect, with a 30% POS! Time will tell as the rotary lie detector goes into action in February, but success at anything close to XState?s resource target would be worth over $4 per share for both XST and ADX while Verus would see a 33 cent lift".
VIL Price at posting:
0.8¢ Sentiment: Hold Disclosure: Held
