The announcememt is very specicic on their expectations for an excellent flow rate. Here is what they have just said.
"PRELIMINARY OBSERVATIONS Permeability The coals at Le Chiffre have high permeability (up to 25 mD) which, combined with 50 – 60m of net coal thickness in each well, result in very high productivity as demonstrated by the flow rates observed. We had expected to encounter a low permeability reservoir system (around 0.1mD) with correspondingly low productivity. It appears, however that the coals at both wells only require minimal stimulation to flow at high rates. These permeabilities have fundamentally altered our understanding of the reservoir system which has demonstrated exceptional deliverability capacity."
If the seller at 16 with 1m shares is cleaned up we should be able to now move up into the 20's.
Cheers all
STX Price at posting:
14.0¢ Sentiment: Buy Disclosure: Held
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