STX 4.65% 22.5¢ strike energy limited

Yankee expertise, page-2

  1. 5,347 Posts.
    lightbulb Created with Sketch. 2640
    Happyvalley, I am fairly sure they have consulted all sorts of "expertice" that have the experience with this sort of thing globally.
    You will remember that they have said this is behaving exactly like a traditional CSG reservoir - so far.
    They have then gone on to say that they just need to pump to depressure the formation and the gas will increase (as the previous gas type curve has shown)......remember they have been very close many times on the same wells (the pumps were the issue then).
    Nothing has changed - other than increased productivity (therefore more water to move and a longer process to achieve depressurisation). Short term that is frustrating (as your post is showing).....long term it will be very good.

    I dont think they are just relying on hope. They have done it before - at other traditional CSG projects (CH4), and also with these wells (up until the cavitation point).

    We know they are (were) just starting the approach of conditions prior to the shut-in for the new pump program (on the 28th July they said this in the quarterly). This suggests they are starting to see the process of critical desorption of some coals around the well-bore an increased gas.
    As they pump more water more coals start to release gas further into the formation.

    It isn't a matter of starting from scratch and bringing in another team of supposed "expertise" as they are on the right track. They just need to keep those pumps going and progressively lower the pressure and things should build nicely.
 
watchlist Created with Sketch. Add STX (ASX) to my watchlist
(20min delay)
Last
22.5¢
Change
0.010(4.65%)
Mkt cap ! $643.6M
Open High Low Value Volume
22.5¢ 23.0¢ 21.5¢ $3.339M 14.95M

Buyers (Bids)

No. Vol. Price($)
7 337869 22.5¢
 

Sellers (Offers)

Price($) Vol. No.
23.0¢ 1651352 24
View Market Depth
Last trade - 16.10pm 21/06/2024 (20 minute delay) ?
STX (ASX) Chart
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.