STX 12.0% 28.0¢ strike energy limited

Good but not unexpected result at SE-1. The problem I see is...

  1. 58 Posts.
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    Good but not unexpected result at SE-1. The problem I see is that the prospect is only covered by 2D seismic so NSAI or any other reputable certifier won't allow you to book much by way of 2C resource. STX will need 3D seismic and likely 2 appraisal wells to get remotely close to the 350PJ needed for Haber. ie. at least a year away to booking reserves.

    The ASX release implies that Kingia at SE-1 is connected to WE but there is no mention of MDT or pressure data to indicate it is. SE-1 reservoir pressure is 6800 psi (at 4780m ?) and WE-4 was 6821psi (at 4989m) so could be right - pressure-depth plot would conclusive assuming they ran MDT.

    Looks promising but I wouldn't be banking the 350PJ just yet....
 
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