bayso,Hartleys have every reason to be bullish on STX. They are...

bayso,

Hartleys have every reason to be bullish on STX. They are well underated after a shocker in 2010. Sorry, they are well rated for their current proven resource value.

The upside is all highly speculative, but highly lucrative all the same. What it does paint is a picture for significant upside and limited fundmamental downside.

If you go back some ways on STX, they actually waited almost 8 years to clear native title on PEL96. Poynton has been on it for almost a decade now. There was a thesis done by a SA uni student under STX tutelage which considered the prospectivity of the permit back in about 2000.

STX should only need to commit about that at this stage. Anything else would be overkill imo. Especially when they have a much more likley and higher prospectivity gas discovery in SE TX.

The Cooper was decimated last year. The drill rig "mixup" was a substantial screw up imo and on the back of the weather has killed STX Cooper CSG prospects for 2011. None of it looks deliberate, just stupid.


Bayso,
not that I am a moderator, but go easy on the stock cross pomotion, its in the Terms as a no no :)

SF