STU 0.00% 94.0¢ stuart petroleum limited

Guys, Im looking at getting into a good junior oiler, who is now...

  1. 1,563 Posts.
    Guys, Im looking at getting into a good junior oiler, who is now profitable, with lots of upside over next few months. I have shortlisted, STU, BPT, PSA. Below is what I know about them. If u have an opinion about these I'd be interested- thanks in advance

    STU -------------------------------------------
    Earliest, junior focussed on relinquished Cooper Basin tenements, most succesful 67% success rate.
    Production from Worrier + Acrasia
    FY 2004 produced 330K bbls, revenue $14.7m, NP $3.4m, IRR 30%
    Reserves Provan and probable 3m bbls
    CY exploration inc Arwon [89% jv w COE], Jezabeel [66% jv w BPT], Beeville [20% jv], Doriemus [100%] gross potential 18.1 bbl, 12.5bcf

    BPT -------------------------------------------
    BPT is v profitable, v aggressive plans for growth:
    1 . Current focus on Kenmore- Bodalla oil block in Cooper/Eromanga Basin, inc Sellicks & Christies field, producing 3,500 bpod, fy03/04 npat $10m, now $37m cash in bank, current reserves 5mbo.
    2. BMG acquisition Gippsland Basin. Basker [RL-6], Manta[RL-9], Gummy[RL-10] permits, together have 23.3 mmb[from BM] + 19.2 mmboe [from MG] total 42.5 mmboe, aquired by Anzon from WPL. BPT will effectively acquire 44% of these assets, funded by existing cash :
    - Direct ownership of 25% + 12.5% farmin option
    - Indirect ownership of 9% thru new coy, Anzon Australia, which will own the rest.
    This aquisition provides BPT extra +10.5 mmbo + 5mmboe + lots of exploration upside

    PSA ---------------------------------------------
    Natural Gas + Oil focused in GOM/ Louisiana
    Cash rich, self supporting exploration
    1. USA, GOM, offshore Louisiana, 30 bcfe gas [est US$135m cashflow, 21 mcf/ day, US$120k/ day] + exploration >40 bcfe gas
    2. China, Beibu Gulf
 
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