they have a lot to do and a lot of capital to raise, and a imho...

they have a lot to do and a lot of capital to raise, and a imho the best prospect of all in their portfolio is the alvares well as its already flowed gas and a proven play. back then xst and sgc were both explorers with basically the same targets...

dempsey is what they want to go after as far as public announcements have gone.. but capital is what they lack ( like we all do now)

bombara has an interest in the other gas gas prospect with CRC - tulianyo and obviously given the structure of the deal, the partners like xst and sgc never took up a position

just like the LA PSA was long and drawn out, the gas prospects have never got to exploration stage other than CRC doing that one well on the structure.

xst still hold upside potential for me, the quality of the now defunct LA asset spoke for itself, and i think the way ahead for state is to repeat these types of acquisitions... which imho it is capable of doing.. we always will have the opportunity into the future to see if the exploration of dempsey/alvares eventuates... i think dempsey will flow, the issue is what rate can it flow, will it be commercial flow...