Interesting looking back at some of the STX discoveries at West...

Interesting looking back at some of the STX discoveries at West Erragulla in Western Australia in 19’.

STX 27/08/19 - A 97m gas column in Kingia sandstone intercepted with 67m of high gas saturation of which 41m (later upgraded to 58m) was classed as net pay with an average porosity of 14.3% (classed as a staggering discovery). STX shares rose 55% to $0.22 (MC of $380m or an approximate MC increase of $135m based on 50% share with WGO). This is the reservoir that was flow tested and returned 69MMSCF/d with a 2 inch choke with 700psig wellhead pressure over a one hour period. Smaller net pays discovered in high cliff (10m net pay with 16% avg porosity) and wagina (10.2m with 14% avg porosity) regions. Approximate net pay for West Erragulla 2 was 78.2m with a total resource estimate of just over 1 TCF.

https://hotcopper.com.au/threads/ann-outstanding-west-erregulla-flow-test-results.5031725/

XST 15/03/21 - Net gas pay of 92ft or 28m in Lower Kione Formation with an average porosity of 14-27%. Minimal rise in SP. Another show of 30m show (net pay tbc) in the lower guinda formation with multiple targets yet to be hit. Extremely undervalued and this could be a monster imo with bigger targets to come and minimal cost to commercialise. Best of luck to all holders for the week ahead and of course DYOR. Cheers. TGF.