re: Ann: Fortnightly drilling report - Anothe... Well, very...

re: Ann: Fortnightly drilling report - Anothe... Well, very happy to say I am now a holder in SXY.

Took a position in the last couple of days. Kept an eye on SXY for years now, since its VPE days, impressive management with very very prospective tenements. The more I research SXY the more it seems that their 'window' in the south of the basin in particular is going to hopefully offer both gas and oil from its shale. That is where the money is in the U.S...

Great announcement today regarding Snatcher, I am hoping that others might offer some thoughts on just how big the overall field might get to?

SXY are IMHO, easily going to meet their forecast of 1 million barrels production.

Regarding the ACN foray, must admit, I thought that with the current tenement % ACN was a natural fit for them.. but DLS seem to think they can get it. My initial thought is that for now, SXY has taken a blocking stake and nothing more, it might be more advantageous in the long term, for ACN to prove that they do indeed have a large commercially recoverable resource, then.. do a script merger, as I would prefer SXY to keep all its cash for the huge amount of drilling that is going on now and for the next 18 months.

SXY SP is at what I think is a fair level for what it has, plus its cash backing. Earily in the year, SXY was overvalued on what it was currently producing and had as reservers. This will hopefully change in a big way over the next 12 months, causing a large rerating. Also, BPT/STO drilling will continue to prove up how amazingly rich the Coopers shale is. A 'team' effort of sorts.

Good luck to all holders.