site visit for analysts & instos, page-58

If STX is worth 80 cents purely based on 2P/2C reserves position, you would think it's actually worth much more considering the following differences to WGO (especially after TPD takeover):

• Operator of all permits.
• Largest permit holder in Perth basin.
• Largest reserves and resoures in the Perth basin - this will not be replaceable!
• 100% holder in majority of permits.
• Now a gas producer at Walyering.
• De-risked development at South Erregulla, given free-hold land and WA lead agency status for accelerated development. Development strategy already in place and progressing quickly.
• Massive amount of exploration upside.
• Strong cash position.
• etc.

This has to be worth a lot more than a simple look through value based on booked reserves. Surely we should be seeing a price well north of $1 for our shares. We just need multiple interested parties to knock out any low ballers, and realise a decent value.