XST 11.1% 1.0¢ xstate resources limited

From what I can gather from the September Quarterly, the...

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    From what I can gather from the September Quarterly, the Canadian reactivation program is looking to reactivate 59 wells, which they hope should add 600 barrels of oil production/per day accross the fields (150 p/d net to XST).
    Assuming this is added onto existing production of approx. 503 barrels per day (XST's current share of the fields, as per the December Quarterly), then that could take us to around 650 barrels per day. This excludes the newly acquired acerage and the imminent production from two initial discovery wells. If we assume these 2 wells together produce 200 barrels per day (50 net to XST), then we get to 700 barrels/day in Canada alone (but bear in mind there are multiple near term targets that could further boost this production). Finally, there is also the Austrian oil fields in Europe (partially owned) with XST's share of production being approx. 40 barrels/per day (also with growth potentially from additional drilling).
    TOGETHER, this indicates XST total oil production could reach around 740 barrels/day (around 270,000 barrels per annum), in the near term, with additional growth potential.
    FINALLY, the above excludes the Californian gas fields, which currently provides additional income and includes some future potential, such as the Borba gas discovery.
    My hope is that XST can keep chipping away and growing their production and cashflow (similar to companies like COE and BPT when they were once small), and then scale up.
    IMHO / DYOR.
 
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