Nice work! FYI Ned3 was abandoned as far as I know. It was the first hole drilled with MinRes Explorer and I they had issues (stuck drill possibly) and they persisted for a few weeks then walked away. Its only a few kicks of the footy from Ned5 so still may be followed up if needed, (pad reused). Looking like lots of oil/condensate on the northern wells. I recently saw a map that had the rest of the 2U pools to the east for those 2 EPs of Hancock's. Will try and find it.
Heard Mitsui are still on the look, very interesting why they haven't jumped at STX yet. The only thing I can think of is some big players have deep contacts with Maq and they are exactly aware of STX fragile situation and biding their time to get it as low as possible before jumping. Probably pushing a margin call but the CVN deal put a spanner in their plans. Mind you we are back to the same MC even with a fresh $50m cash. There has obviously been something that has upended our funding terms, like not meeting T&C's. Will they push again or will we have some luck and get some reserve upgrades, who knows.
STX Price at posting:
12.0¢ Sentiment: Hold Disclosure: Held
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