is this palta, page-47

when your selling an efs block and you have no cash.. ala texon, then they pick your bones..

texons competitors suddenly drilled wells on the boundaries and forced so far 100 mill in well costs. texans know how to break you in half..

texon was indeed fortunate to have a deal brokered with sea, but if stx take their acres to the market, they need a commercial well, and to make their land saleable, it needs plenty of good wells all over it.

has it got the capital to do so?

if they drill into the efs next time and not the chalks, it could go a lot better for them.

making fundamental errors on $10 - $12 mill wells is not something a small cap can easily overcome.

have all the respect in the world for ben, and i know he is a good oilman, but stx need to get a commercial well off and running..

keepin a close watch, i exited at .23 pre that cap raise, and i hope the ones who paid up for those wells managed to break even or get out ahead.

stx has a great position, but i am not convinced the region is demonstrating what stx needs..

best of luck to all holders