One well has been drilled in offshore PEP11. Called the New Seaclem-1 well it was announced on 29 December 2010 that no gas had been found.
With XST there are producing gas fields all within the vicinity of its onshore Borba prospect. The Willows field is nearby which has produced 650 BCF since discovery. The Dempsey well is also nearby which had extensive gas shows during drilling.
XST has PEP11 but without the issues and the costs and its Borba prospect is located in a proven gas area. I smell a big price rise coming. DYOR
XST Price at posting:
0.5¢ Sentiment: Buy Disclosure: Held
