Those selling out below 25c aren't taking into account that STX has a very active drilling schedule during Q3 & 4 in 2007.
They have identified multiple (approx 30 odd) 50 - 250 BCF targets in the US where they are in a JV with COI, that will be drilled within the next 6 - 9 months.
Plenty of upside left even if Rayburn isn't a company maker strike.
I still have faith in both STX & COI (hold both), & see this stock as a junior oil/gas play for the patient, kinda like NWE.
The value is there, just needs time & one good drill to highlight it to the market.
My short term target price is 35 - 40c, & see the current shareprice as having a large margin of safety.
Am hanging in there for the rest of the 2007 drilling campaign.
Those selling out below 25c aren't taking into account that STX...
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Last
22.5¢ |
Change
0.010(4.65%) |
Mkt cap ! $643.6M | |||
| Open | High | Low | Value | Volume |
| 22.5¢ | 23.0¢ | 21.5¢ | $3.339M | 14.95M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 7 | 337869 | 22.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 23.0¢ | 1651352 | 24 |
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| STX (ASX) Chart |