Gross recoverable gas of 279BCF. Assuming a recovery factor of 70%, that's a potential recoverable of 195BCF or 33mmBOe. If successful, it could be worth as much as 12cps to STX but it's very early days yet obviously. Even given nearology-ish to Lockyer, there's a large element of risk associated with whether the Permian play extends that far north. If successful, it will mean a bit to STX but a heck of a lot more to TEG as it will also open up lots of other potential drill candidates in the block. On the flip side, a failure would only cost STX 3.5mn but much more to TEG.
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Gross recoverable gas of 279BCF. Assuming a recovery factor of...
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