GJ in the announcement yesterday again makes the link between the Sacramento Basin and Perth Basin again. He has referred to the Sacramento Basin as 'Perth Basin's Big Brother'. He would know it as he has worked in both Basins extensively.
Since he put out the table comparing the market caps with Perth Basin Explorers STX and WGO, the market cap of STX is now approx $500m and WGO market cap now approx $217m whereas the market cap of XST has only increased slightly to approx $30m - a huge disparity.
"The Borba well is the logical next step in evaluating the world class potential of the older sediments in the Sacramento Basin. Investors and shareholders are reminded of the similarities between our Sacramento Basin opportunities and the recent success achieved in the older and much deeper sediments of the Perth Basin."
XST Price at posting:
1.2¢ Sentiment: Buy Disclosure: Held
