We know with Borba that there is a ton of gas lurking below...

We know with Borba that there is a ton of gas lurking below (think multi TCF - possibly 6 TCF with mention of 10 TCF +++).

Gary Jefferys at the 2018 good oil conference said that it is one of the anomolous pieces of seismic he has seen in the Sacramento basin to date. Nearly 2 kilometres of prospective strike length. 16 stacked intervals to drill through.

Dempsey had massive gas shows during drilling but the missing ingredient was reservoir quality and flow rates. The well logs from Dempsey have been intergrated with the seismic and Borba was identified as the optimal place for better reservoirs, better flow rates and better quality sands (porosity and permability).

Interesting during the 2018 good oil conference presentation Gary Jeffery mentions that a "channel system" has been identified in the seismic at Borba which is similar to that found offshore West Africa which has massive oil and gas fields. This is exciting news as it has never been seen before in the basin and could be the source of better quality sands.

In a recent webinar i remember Gary Jeffery mentioning that the independent resource assessment will be for Borba but will also include a "channel" zone outside of Borba. The channel system not only improves the prospectivity for Borba but for those areas along trend from Borba.

If Borba delivers the goods i wouldn't be surprised if XST becomes a takeover target.

I watched the 2018 good oil conference presentation again last night and it is well worth watching, especially from the 5 minute mark onwards.

I have backed the truck up buying XST shares before the news gets out there, the penny drops and the herd arrives.

This is PEP11 and the Perth Basin on steroids !!