But as you all point out, its other projects have huge potential...

But as you all point out, its other projects have huge potential but not on the reserve list.

I just think a MC 60 million company should have billion barrel or multi TCF reserve target.

I don't really understand what your points are. The purpose of drilling (which I presume you're referring to as "projects") is to prove up reserves. If those projects have proven reserves, then why are we drilling?

60mn MC for billion barrels or multi TCF of reserve target? Even salt water is worth more than that.

By the way, what's the difference between a project potential and reserve target? As I said above, the purpose of drilling is to prove up reserves. Anyway, why do you think STX is drilling PEL96 other than to prove up "multi TCF" of reserve? For fun?

Basically, I have no idea what this post is trying to say. My mind is too simplistic to breakdown your cryptic message.

PS. there are plenty of oilies with MC greater than 60mn which has no revenue, no official reserve, some haven't even drilled a hole! Rialto Energy, VicPet, Bow - they have projects with potential but not on reserve list. Yet they are all capped over 150mn.

Anyway, to sum it up, best if you stay away from STX.

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