hbswrx
If you are talking about the STX oil entitlement from the Permian Basin JV?
As it stands Permian JV current production is 120bpd. STX share = 25% = 30bpd x $90bbl x 365 = $986k pa cash flow.
Remember - we "may" not spend on workovers until 2nd half 2012, possibly this time next yr. STX "may" have a $1mil of extra cash flow in its bank before then from this project.
T/O talk premature IMHO. No one is going to pay a premium for STX Cooper acreage on the chance that it may or may not have commercial shales/coals. However, if the two wells to be drilled next yr in PEL 94 & 95 come up trumps then a T/O is possible. Sennex must be added to the mix along with Beach as a possible suitor.
Would dearly like to be proven wrong on my T/O opinion!!!
Cheers
HC
so how much is this oil worth, page-5
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