You are right about the stock being soaked up ABLM. Drilling due to commence early 2014 so there must be an announcement on a spud very soon.
Paul Carwright - formerly an oil & gas analyst at Hartleys stockbrokers.
Chris Hodge - also on the board of ROC Oil.
I don't think they would have joined XST if they didn't have big plans for the future and a major rerating of the shareprice. Actually Paul Cartwright indicates this on page 2 of his MD review;
"With Xstate the prize is potentially significant (that’s why I am here)"
http://www.xstate.com.au/files/files/555_2013.12.06_ASX_-_XST_Managing_Directors_Review.pdf
The stock being soaked up and the lack of sellers is a very good sign imho. DYOR
smoke signals everywhere, page-57
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