Hard Man, I think everyone just needs to calm a little and move...

Hard Man, I think everyone just needs to calm a little and move on. From what I can see, I think you are being a bit harsh on vaga. Believe me, I've had my differences with vaga too, but we move on. We should try and focus our energy on STX instead.

The underwriting agreement is good insofar that it secures the necessary funding for what should be a busy period coming up with the stratigraphic well, the continuing leasing as well as the required technical studies, but I am a bit annoyed at the underwriting fee of 5%. I know it's about the usual underwriting fee, but in this case, I am not sure if they really needed it since most of the large shareholders have already committed to the CR, and I'm quite sure most of us would have taken it up (it's 1 for 15, so not exactly a huge raising). Anyway, that's just my humble little view.

As for this article, at least it makes a change that we're in some media coverage for a change. The fact that we're not described as a takeover candidate despite having one of the largest coal/shale acreage is baffling at best. That's fine with me since the least thing we want is for STX to be taken out before it manages to prove up the value in its asset portfolio. That would be seriously tragic for long term holders like myself. There are a lot of risks involved (financials, operational and geological), but I believe we are on the verge of proving up what I have always viewed to be their best asset - Cooper unconventional liquid/gas. If and when we manage to put some runs on the board and start posting some decent resources, 2012 could well be the start of the transformation of STX to a serious energy supplier.

With EFS, there is also so much hidden value within STX - which no doubt will be partly unlocked once they get some drill/flow data and prove up the play. It is a low risk play and we'd have to be the world's unluckiest oily to have bought into a patch of dry EFS leases that are surrounded by oil-producing leases.

Only time will tell, but 2012 is the year STX will start to prove itself to either be the 5-10 bagger star, or an enormous dud.

Bring it on!

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