I posted this on XST earlier, in response to some other...

I posted this on XST earlier, in response to some other posters:

"I agree with you Bomber, that a substantial resource estimate is already factored in, and so unlikely to push the share price far higher (if at all).

BUT knowing how big the potential target resource is surely will play on the minds of holders going forward into the drilling phase, and any significant indications of gas during drilling might be treated very positively by the market.

We already know it's "multi-tcf", and Alvares has been given an estimate of 2.4 tcf by former seismic modeling. So I'm of the view the market would look negatively at any estimate below 2.4 tcf. And yet 2.4 tcf is a huge resource by any standard, and any small percentage, say 5-10%, converted into a recoverable reserve based off such a resource will still be a major cash cow.