thar she blows - so what's it work to the sp?, page-3

Their current 2P reserve is about 0.88MBOe from recollection (post sale of Rayburn and Mesquite). Assuming recovery if 50% of pre-drill estimate, it will be 10MBOe. So on STX's NRI of about 23%, it will equate to 2.3MBOe - so will increase their reserve at least 3 times.

IN terms of what it is worth and cashflow, too early to say as everything depends on the flow rate, the fwd development plan, cost of development (rig rates, etc), and what your expected future gas and oil price expectation is.

In summary, it should be north of 35cps once proven commercial on a reasonable flow rate.

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