Harbinger of prosperity?, page-3

Hi OOO,

thanks for your post which shows clearly that CSG exploration is back on the screen of the market and how quick a major re-rating can occur!!

That’s great for our STX...

In particular because our project plays in a complete different league compared to GLLs Glenaras Gas project...

One can roughly estimate potential ‘net pay’ and compare different projects by multiplying coal thickness with gas content:

GLLs R3 coal: about 3m x 5.3 (m3/t)
STXs Vu upper: 35m x 6.1 (m3/t)

This significant differences of these two projects will have a very strong impact in particular to EUR and therefore to the overall economics...

Actually - from my POV - each of our ‘upside’ coals Vm3 and Vu lower are more prospective than the whole Gelnaras Gas project... we are really in a different league...

If STX is able to flow gas as expected (and we are right on track to do so...), than the SCBGP will be transformational for the entire industry...