new project on the 2009 agenda

I'm a bit surprised about the emphasis of the "New Ventures & Business Development" strategy and in particular about the PELA 96 "Southern Cooper Project".

STX holds a 66,67% stake in PELA 96 - progessing to grant:
* 1,800 sq km or appr. 450,000 acres of coal measures (!!!)
* CSG - Potential of 8 - 20 TCF (!!!)
* Underground Coal Gasification (UCG)and Gas-to-Liquids (GTL): potential greater then 20,000 bbl/d (!!!)
* evaluation and drilling planned to commence in 2009

Sounds that we could have another long term value driver (beside HybridEnergy).


Also new in the GOC-presentation:
- increased revenue forecast for fy 08/09: now $50-55 mln (which is - in my eyes - still conservativ)
- still no production decline (particular no decline from D1) (!)
- new business and a new company "Sequester Pty Ltd" (which is a 100% subsidiary of HybridEnergy) - a carbon storage service for existing projects
- CSM project in ATP 549 (Cooper Basin)




I love my STX ;O) Its all just a question of time and patience ...