@davmarc... Understand your scepticism...but the share price has been appreciating in terms of comparable stocks at comparable exploration/development stages. There has been dilution of the stock and that is also totally common against most stocks trying to develop a resource from relatively untested depths and technologies.
I can happily say that I am fully invested in this stock and am not in the red. It is taking far longer than anyone here would have hoped and yes hindsight is always reliable and as some here have stated better methods that were not taken for reasons that were probably overconfidence and arrogance. I think most likely confidence in the coals and their ability to produce commercial gas!!
I think everyone here agrees the time is now! With such successful gas accumulation from the previous pump and well setups we now move onto much larger pump capacity, changed pump types and a new well, K4, that is likely the cream on top. I don't think this is rolling the dice as management and others more technical here have outlined the results and seem to agree that the new set up SHOULD achieve commercial gas results.
IF that commercial gas result is achieved then there will be lots more non dilutional money coming in to support the next generation of wells, greater in all volumetric measures to confirm our multiple tcf resources. That is something I am willing to risk my money on happening!
Only a week or so ago we had another LOI/MOU with ABC. They have agreed to off take interruptible gas supply from Strike starting from 2017 from our Demonstration Plant. What does that tell you?? Does it tell you that ABC are fools and there is no hope they can depend on this development for their supply? They will have seen a greater level of detail than any of us and wouldn't bother signing unless they thought there was a strong chance of success and its obviously important for them to get an early commitment from Strike to secure their LNG requirements. Right??
It's not like we're drilling wells into unknown gas bearing coals! The geology is clearly consistent across the permits and they're now confident enough to go to Le Chiffre again and test the upper coals! That has always been the plan and could provide data that allows Strike to better negotiate any deals and also enhance any resource definition in the very near future.
Long post I know but I think your absolutely wrong about this...
Strike $0.40 by December 2016 is my call!
STX Price at posting:
11.5¢ Sentiment: Buy Disclosure: Held
(20min delay)