Hey Petroman,
I certainly agree that SXP is a very interesting play. They have what amounts to a whole underexplored basin, which has loads of potential.
My recommendation to the company was that they divide their tenements up into relatively small (by Australian standards, but not US standards) and invite tenders for the blocks. Obviously, for the first few, you would offer very favourable terms on the best blocks just to get the drills turning. However, if anybody gets a success, SXP now has all of the remaining prospective ground 100%, and will accordingly be recognised in the market place. This reasoning applies to conventional oil and gas.
The CSM potential is effectively a different play and should be dealt differently and separately. Similarly, Coal to Gas conversion.
I agree that the potential is awesome. We need to get some US metrics applied which would see market capitalisation some multiples of current.
DYOR
SXP
sapex limited
