short term trading - week starting 25 feb, page-126

Entry for STT STX at 11c (Hope it gets locked in at 11c as that is the current price plenty of volume through here)

Has huge prospective Shale Gas targets in the Cooper Basin

"Strike’s Southern Cooper Basin Project is initially targeting the coal seam gas potential within permits PEL 94, PEL 95 and PEL 96. Strike estimates that approximately 75% of the 8.2 to 21.5 Tcf prospective resource in this area is associated with the coal. A significant upgrade to the prospective resource was made in 2012 after high gas content and thick coal was encountered in the Marsden 1 and Davenport 1 wells. The project is ideally positioned to supply the Eastern and Southern Australian gas markets with open-access pipelines passing through the permits."

With a market cap around $60m it seems ridiculously cheap based on recent deals done in the Cooper Basin and my guess is now that BPT has sorted out its flagship assets they will be able to focus on their highly prospective JV assets with STX


Technically speaking its chart is sitting near the all time lows too