Ann out this morning - Rayburn has spudded. Weekly reports will be interesting. A sniff of gas and we're back up to 30c imho.
Interesting to see that they're about to do some 3D seismic in Colorado. Fall River Resources is currently drilling a well about 2 miles to the West of STX's acreage here. Will give a good indication of the prospectivity.
And if anyone's keen on diversifying - Fall River (FRV) only have a market cap of around $5mil and have a 15% stake in the well being drilled at the moment, which has mean recoverable reserves of 9mmbbls of oil and 150 BCF of gas/condensates. Even at an in-ground value of $5/bbl oil and $1/mcf gas would justify a market cap of $30m for FRV (or 50cps). They're currently 8c.
Cheers,
Butcherano.
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