A post on the SGC thread suggests that Borba could hold up to 10 TCF of gas which XST has a 24% working interest in !!
https://hotcopper.com.au/threads/an...-flow-report.5531285/page-11?post_id=46253258
To put this into context Rio Vista has produced 3.6 TCF in its life and is the largest gas field in California and one of the 15 largest in the US.
https://en.m.wikipedia.org/wiki/Rio_Vista_Gas_Field
And also there are the existing producing gas fields which XST has a working interest ranging from 10-30% in which the following was announced recently;
- upside that exists in these fields is massive
- new multi TCF targets
- relatively low cost drilling
- drilling in the near term!!
"Whilst incremental production growth is important, our team is also very active
identifying more reservoir ‘sweet spots’ that are present in the deeper formations throughout our fields. While the Dempsey / Borba is the key focus, we are
have identified new natural gas prospects ranging from 20 Bcf up to
multi Tcf targets which can all be tested through
relatively low-cost drilling.
The upside that exists in these fields is massive and we are determined to unlock much greater value with the
drill bit in the near term. More updates will be provided.”
Based on this we can now we can see why the analogy has been made between the perth basin and the sacramento basin and between XST/SGC and STX/WGO and their $300m/$100m market caps respectively, and the upside that exists for XST.
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