Stockanalysis on SGC, page-6

Hi Agentm, the blow outs adjacent relate to historic drilling that are referenced in an old California Resources Corporation report, that i read a few years ago. I've had a quick look now for the article but can't locate it at the moment. If/when I do I'll link it.

With respect to XST I do realize that the Asian investors have got involved due to the new concept but that first acquisition as far as I'm concerned is fully priced based on any reasonable oil price. I think the new CEO has done a remarkable job bringing in the first round of capital that has seen the company rise almost from the ashes, and this second round placement at a premium is unbelievable yet true. What has set the company up is the investors and money they've brought in, not the prospect, imo.
From my reading between the lines (ie my speculation only), that Peregrine stake was more likely going into XST before the oil price and exploration fell to nothing, and so SGC has managed to get it with more focus. That's just my view, purely speculation. Regardless SGC has got it and likely to be the biggest benefactor.
After the meeting today the question will be how the next phase begins, whether a straight out farm out of a portion or a funded (placement etc) phased approach. For sure a rights issue will be difficult because of the large shareholdings by management - again just my pure speculation.

Whatever happens I'm confident SGC will move up considerably when a clearer picture of the way forward is provided