Ann: New Gulf Coast Exploration , page-30

the stock market is a tight fisted bastard who never gives away easy money - STX is no exception!

Myself, I reckon there is an easy speculative 20 cents to be made from here up to 50 cents on the back of forthcoming activity, but like everyone I want it now, not in 3-6 months time!!

Zoomy, the frustration is we have seen 40 cents before when STX had none of the assets, prospects or cashflow that she does today. No Rayburn or Mesquite, Louisiana JV, Cooper CSG, Hybrid CTL, Rivoli, etc etc! The only thing we had back then was 4 Carnarvon targets and 3 drills that came up dry - but we were 40 cents! See why we are a little frustrated?

A decision (a good one) after those 3 failures was made to explore US low risk high margin (at that time) nat gas targets with our remaining cash.

The big problem for STX is that nat gas prices have collapsed and targets whilst bringing cashflow no longer bring spec interest like they did 3/4 yrs ago.

Nat Gas really is the guts of our business right now. Cooper drilling and Baniyas (if we can get the ball rolling) will change that single focus, bring it on!!

Cheers

HC