question to STX holders - especially long term ones...., page-22

Investing,

"Remember linc energy and the 200billion barrel resource around the corner in the arkaringa basin."

It is a big stretch to compare the two !


"Or even closer would be Icon and atp855 with 300 tcf apparently. Doesn't matter how big the resource is. At 11million a well i seriously doubt any csg well will be economical. Then add at least another 1-2 mill in field infrastructure and processing. Thats just shy of 15mill a well on average across a full field development. Add(or minus) 50% ch4 saturation. Economics make a project not the reputation of directors."

Read page 20 of the recent presentation. The first wells will cost $11 and are projected to fall to ~7mil in a broader field development. Also see page 22, showing projected lowest quartile $/GJ cost of supply analysis. I know PSI suggested this was very unlikely so I quizzed management on that. It was an extensive answer and i am comfortable they know what they are talking about there. Maybe a call to head office might help your research. Although you have sold out so you probably don't care to cloud your view with any positive bias now.


"Galilee shallow csg will be economical before this is.
Even if they get gas flowing with jaws, they would of been loosing bulk coin supplying orica gsa. As the well head cost would be well above the gsa price."

Do you know that ? you are guessing.
If that is the story then its best they did rip it up. That would be good management.