Two counterpoints:
- net present value is a forward looking calculation
- I believe management quality is critical. However, I've actually found STX management to be quite conservative in their approach and have conducted drills in a methodical and strategic manner. The lack of success, I attribute to bad luck, more than bad management. I can name half a dozen small explorers with bad management with spruik and pump-and-dump and misdirect, but STX is not one of them.
They hold some pretty interesting acreage. One good well on any of them, and we are in the money. It just the nature of micro-caps. Tomorrow they could report significantly improved oil flows, which would revalue their entire EFS acreage. Then we would be hailing their forward thinking.
I am frustrated with the share price and lack of success, but no necessarily with the company's direction or its management.
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Price($) | Vol. | No. |
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