at least Permian came with existing production - net 30bpd. Pure...

at least Permian came with existing production - net 30bpd. Pure spec, but I see STX following the AZZ strategy to the Permian in the longer term and I highly value the presence there!

Here is a snippet of Bell Potter's thoughts about the AZZ move to the Permian, this is after AZZ proved up and sold their EFS acres for a motza.....

Focused on the Permian basin, one of the established but still strongest growing shale oil plays of the US. The Permian is attractive and lower risk due to its thick
stratigraphic section of several conventional and shale oil targets, enabling low cost vertical drilling, but with upside from horizontal drilling and/or down-spacing.

We like the focus on the Permian basin and specifically the Wolfberry trend in the Midland basin, with majority ownership in all projects and some portfolio diversification through three sub-regional acreage packages.

Management has learnt some lessons from the Eagleford, and is applying a lower cost, lower risk approach to building a profitable, repeatable business.

http://www.antaresenergy.com/wp-content/uploads/2011/08/2011_09_12_AZZ_1H_2011_Result.pdf

Plenty of good Shale research on the AZZ site, investor section!

Winterman, yes but it was farmed down to only 25%, was shallow and cheap, some strategy there.

Cheers

HC