Extract from March Euroz comment on AUT re EFS potential (Karnes county):
"US$11m NPV on 60 acre horizontal spacing would underpin potential realisable value of US$180k/acre; tighter horizontal development (down to 40acres) and/or vertical spacing would have a multiplier effect.."
OK, so Fayette and Lavaca counties are not Karnes but STX has a net interest in over 8,000 acres in the eastern continuation of the trend.
That's a lot of potential to gun for.
why announce a capital raising now..?, page-37
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