STX

2.56%

20.0¢ strike energy limited

Ann: Trading Halt, page-188

First 188 Last

Share
Profile

Follow
Annoyed

265 Posts.

21

30/10/19

12:38

Post #: 41144524
Share

Originally posted by fyffee: ↑

Jaws is not a duster - we're flaring gas off from there as we speak. All it requires is more time to lower the water pressure, and extend the draw down cone to include more gas bearing coal in the gas production phase. It is slow and steady to avoid any sudden release of gas under high pressure that could damage the formation fracking and clog things up as the critical desorption pressure is approached - as happened back at the end of Dec last year. The recent quarterly was positive about Jaws commercial success likely being declared before the end of this year. The commentary in the AFR article of 10th Oct about the likelihood of us abandoning the Southern Cooper Basin was way off the mark imho.

$35m is a very decent capital raising for a company of our size, but is indicative of the size of the Perth Basin resource and its future value to STX, and the fact that this has been largely de-risked. This should see us right through to the commercial production of gas from the Perth Basin. If some of the money raised is also spent on Jaws and more exploration on the PB rather than on production wells and facilities then it is likely that there will be another CR before we get revenue from gas production.

It is very disappointing that the trading halt was not put in place on Friday morning, in light of the knowledge some people had of a very imminent capital raising just as the flow rates on WE-2 were released. Both announcements then could have been made during the trading halt so all shareholders were fully informed when trading resumed on Tues morning - then we could be raising at around 28c instead of 23c. Perhaps in a few years time the difference between 23c and 28c will not seem that significant. I do feel for people who bought in at 30c on Fri morning though, and I can understand the bitter taste in their mouth. Having said that, I expect that the SPP will be over-subscribed, since the $5m asking from existing shareholders is a pretty small amount - I hope the company will accept over-subscriptions rather than scale back, in view of how poorly they treated us in these last few days.

sentiment changed from hold to buy on weakness following the SPP cr.

Expand

yes i do read anns ... the dig at being a duster was in reference to the cap raise being in the AFR and not in the ASX

STX Price at posting: 24.0¢ Sentiment: Hold Disclosure: Held
Upvote

0 Great analysis

Reply

Top Stories

Capital raisings wrap: Brainchip, Ovanti, Lake and VHM

MND

Monadelphous inks $200M contract with Woodside to help build Pluto LNG – but will it make Scarborough cheaper?

Nine's staff strike as Paris Olympic coverage begins

ASX Market Open: ASX200 to rise for Friday session | July 26

NVA

Nova locks in NASDAQ US market listing at a value of only US$3.3M as ASX gets quieter and quieter

HRZ

Horizon firms up ore reserve for Boorara ahead of FY25 Q1 development decision

RHK

Red Hawk upgrades Blacksmith with DSO mineral resource at the Eagle Deposit

MIN

MinRes jumps 5% as the company meets production guidance – depressed iron ore prices be damned

IGO

IGO kicks off earn-in copper drilling on-site Encounter's Yeneena play as it adopts new identity

TRP

Tissue Repairs soars nearly 32% on TGA approval for wound healing gel

There are more pages in this discussion • 106 more messages in this thread...

First 188 Last

Add STX (ASX) to my watchlist

(20min delay)
Last 20.0¢		Change 0.005(2.56%)		Mkt cap ! $572.1M

Open	High	Low	Value	Volume
19.5¢	20.0¢	19.0¢	$1.339M	6.792M

Buyers (Bids)

No.	Vol.	Price($)
23	674181	19.5¢

Sellers (Offers)

Price($)	Vol.	No.
20.0¢	741329	6

View Market Depth

No.	Vol.	Price($)
18	510321	0.195
49	2445436	0.190
19	1052674	0.185
26	1131067	0.180
7	139258	0.175

Price($)	Vol.	No.
0.200	138218	4
0.205	839448	4
0.210	3926440	15
0.215	944882	13
0.220	1241001	18

Last trade - 16.10pm 26/07/2024 (20 minute delay)

STX (ASX) Chart

Ann: Trading Halt, page-188

Capital raisings wrap: Brainchip, Ovanti, Lake and VHM

Monadelphous inks $200M contract with Woodside to help build Pluto LNG – but will it make Scarborough cheaper?

Nine's staff strike as Paris Olympic coverage begins

ASX Market Open: ASX200 to rise for Friday session | July 26

Nova locks in NASDAQ US market listing at a value of only US$3.3M as ASX gets quieter and quieter

Horizon firms up ore reserve for Boorara ahead of FY25 Q1 development decision

Red Hawk upgrades Blacksmith with DSO mineral resource at the Eagle Deposit

MinRes jumps 5% as the company meets production guidance – depressed iron ore prices be damned

IGO kicks off earn-in copper drilling on-site Encounter's Yeneena play as it adopts new identity

Tissue Repairs soars nearly 32% on TGA approval for wound healing gel

Featured News

Buyers (Bids)

Sellers (Offers)

Featured News

Ann: Trading Halt, page-188

Top Stories

Capital raisings wrap: Brainchip, Ovanti, Lake and VHM

Monadelphous inks $200M contract with Woodside to help build Pluto LNG – but will it make Scarborough cheaper?

Nine's staff strike as Paris Olympic coverage begins

ASX Market Open: ASX200 to rise for Friday session | July 26

Nova locks in NASDAQ US market listing at a value of only US$3.3M as ASX gets quieter and quieter

Horizon firms up ore reserve for Boorara ahead of FY25 Q1 development decision

Red Hawk upgrades Blacksmith with DSO mineral resource at the Eagle Deposit

MinRes jumps 5% as the company meets production guidance – depressed iron ore prices be damned

IGO kicks off earn-in copper drilling on-site Encounter's Yeneena play as it adopts new identity

Tissue Repairs soars nearly 32% on TGA approval for wound healing gel

Featured News

Buyers (Bids)

Sellers (Offers)

Featured News