STX 0.00% 19.0¢ strike energy limited

this well could add 7-10cps

  1. 839 Posts.
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    Gas shows are certainly a positive for the exploration well in the USA;
    however, reservoir quality in this area is crucial to commerciality. This
    will not be known for another 1-2 days after wireline logging
    operations have been completed. At this time, a decision will be made
    on whether to complete the well as a producer. It is likely to be
    another 4-6 weeks before the well is flow tested into sales. We
    estimate that this well could add 7-10cps for Strike if successful.
    Strike will participate in up to 8 more exploration wells at its USA
    acreage this year, the next of which is targeting 100 billion cubic feet
    of gas and could add >30cps for the Company.
    Significant activity is also approaching for the Southern Cooper coal
    seam gas project and for the Cadlao acquisition, although both of
    these projects have experienced slight delays.

    http://www.strikeenergy.com.au/media/2010_02_17_STX_External_20100217.pdf
 
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