strange we didnt get an announcement, page-4

Patience required... on all fronts at the moment with STX.
News has been coming through steadily, and when it does it has generally been good and encouraging, and there is no reason to suspect otherwise for upcoming announcements.
We'd all probably love to hear a reserves estimate but I, for one, would rather they had completely delineated the field and gave us a comprehensive estimate rather than get someone out to rush out a report to stop the SP sliding in the short-term.

Bottom line is that 100bcf is worth 26-31c to STX, which would basically cover the current SP. Each well is quoted as worth 5-10bcf, and so a couple more successes and we've almost determined a minimum of 100bcf without needing reserves estimate. Any further future upside to this, (and remember, this is considering ONLY Rayburn), and you can consider yourself to be buying in at a discount at current prices. And this values growth outside of Rayburn at NIL, Mesquite at NIL, Hybrid Energy at NIL, etc, etc.

There is plenty of value around at the moment, and a LOT of opportunities but IMO (and only an opinion not advice), there is a LOT of room to move here, and plenty of reason to at least hold (if not accumulate) at these levels.

DYOR, you may or may not agree.


P>S> The figures mentioned above from their preso are based on gas price at either $7 or $10 I think (can't remember off-hand) but I don't think HH slipping to $11 in the short-term is really much of an issue.