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What do you class as a successful well btw......over timeover...

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27/02/24

05:55

Post #: 72609139
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Originally posted by BWM28: ↑

Resignation based on what? Wot!

Ten initial successful wells drilled in four years? Two and a bit water wet near 5km down in the deepest onshore wells in Australian history. ( It's a pain in the proverbial and it hurt all of us, but what can we do about it?) You either, Sell, hold or double down, I am yet to make up my mind which avenue I will take. It may just be the latter!
Furthermore, On average only 40% of all oil and gas wells drilled globally find a commercial resource of any level. STX is still ahead of that curve even after SE2 and SE3.

So individually we have a crack and buy oil and gas stocks knowing the risk then hang someone when it doesn't go the way we want. That makes little sense to me.. Support goes a lot further than unfounded criticism IMO.
Clearly there was a rebalance when moving into the ASX 200 and if there was any negligence you would assume ASIC are doing a level of due diligence to ascertain WTF if anything went on. I am personally giving it time and will wait for some facts before passing any judgement. They did say in the announcement they needed additional equipment, technical analysis and time across the coming weeks to establish exactly where the situation is at. We simply need to wait for the outcomes of that analysis which is yet to commence.

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What do you class as a successful well btw......

over time
over budget
side tracking
no gas

STX Price at posting: 21.5¢ Sentiment: None Disclosure: Not Held
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