Thanks for another informative post. Agree with your first paragraph - although they seem part technical/part commercial issues. That said, the unknowns are being progressively reduced.
I was disappointed when I saw you sold out of the 5.9c entry position because if anyone deserves a positive commercial result from this story (outside of long-term holders) its you after all the helpful technical posts. However, I sense you are more the in at 20c out at 60c type of investor which is smart.
Seeing the comment around Brispot nominees today, we may have the answer as to why the share price hasn't increased, in tandem with the increasing COS. My recollection is they came in at the last capital raise. This explains a lot. Unfortunately the lack of recent share price movement together with the industry pessimism around STX's chances of success will most likely continue to cap the price below true opportunity value. Even if we start to get decent water flows in July - Sep there will be plenty of doubters because of the history of mis-steps and all those geos/engineers in the industry who said it couldn't be done will not want to be proved wrong and have to front their company management asking 'how did we miss this'? And then I'm sure even if gas flows, there will be some who then say you shouldn't extrapolate the results to the wider resource.
It's not just oil & gas but the opportunity to make serious money often occurs when conventional wisdom is turned on its head - like the deep doubts around permeability at -2km's.
How funny today to see Andrew Forrest up the volume and spruiking meter on the gas import idea. Even it goes ahead, the minimum price for feasibility is likely to be at an ear-piercing level.
It's all IMO but I'm nearly more excited at the prospects of West Erregulla, so am looking at the Cooper play at serious optionality.
Finally, we look to be closing in on a upside we've all been hoping/wishing for.
GLTA
Adaltiora
STX Price at posting:
8.9¢ Sentiment: Buy Disclosure: Held
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