Ann: Strike Takeover Offer for UIL Energy, page-99

BN....stating "commercial success" and extrapolating that into future wells being economically viable are two different things. The CAPEX for Jaws-1 has already been sunk so while gas recovery rates may well be commercial and cover OPEX, this doesn't necessarily give an FID.....many many months away. For now, with that "flare", at least the crew has something to light their durries


DP.....stock standard timeframe for a TH, may or may not request further time or go into suspension depending on the circumstances.



Something i posted on the UIL thread earlier but relevant to STX also, just some food for thought.....

"One (rhetorical) question i do have though is this.....why did Mitsui, CERCG and MIN all overlook the $8mill MC of UIL when involved in a $600mill+ bidding war for AWE??? With BPT and Alcoa also in the area and such a lowly MC, perhaps the reason UIL wasn't snapped up by any of these bigger players is because thier exploration geologists felt the tenements sit on the boundary or fall outside of the fairway. Therefore i believe unless we see some interest and a counter bid from any of the above mentioned over the coming weeks, we can safely assume that is their opinion of UIL's PB blocks."