STX - Strike Energy

[MS+Tradesim]

Re: STX - Strike Oil

Anyone else still following this? I like it as a long-termer. Rayburn discovery field in Texas, USA likely to add extra value as they bring wells online. STX have working interest of 22%. In today's ann MD claims about Duncan 1 (in Rayburn field):

"We are very encouraged by the gas and condensate oil flow rates recorded to date which are in line with expectations and comparable to well performances in similar reservoirs in on-trend adjacent fields. This reflects the favourable quality of the reservoir. A rate will be reported once it is determined that the rate is representative of the well’s ongoing performance”

Those other wells he's referring to seem to be flowing gas at >10mcfd. The Rayburn field when fully developed over next 12mths is worth anywhere from 26cps to 130cps (See presentation in attached link).

They're also evaluating a project to supply gas to DoD in WA for up to 20yrs. Also, the Futurgas project in SA will stem from a spinoff co. and IPO early next year with in specie distribution to STX shareholders.

http://www.strikeoil.com.au/documents/2007_11_19_Chairmans Address & AGM Presentation.pdf

 

[wipz]

Re: STX - Strike Oil

I dont know much about this one, however here is something interesting.

My brother works North West Australia for Chevron on Thevenard Island. He returned back to Perth from his 2 week shift to inform me that alot of the guys on the island are buying this stock. Now I have no idea why as he didn't know either. He has just headed back up there again so I have sent him on a mission to find out why they are buying.

Does anyone know about their interests in/around this area?

Cheers

 

[MS+Tradesim]

Re: STX - Strike Oil

Wipz, check out the presentation I linked to. They run through their various projects. A few in WA but can't remember if any in the area you mentioned.

 

[MS+Tradesim]

Re: STX - Strike Oil

STX powering along nicely, all things considered. Today probably a failed upthrust, but more good results over next few months should keep it going.

Interesting, in a sea of red, I only hold 3 stocks at moment and all up.

 

[MS+Tradesim]

Re: STX - Strike Oil

Another good announcement. 3rd well cased for production testing. 4th well spudded. First well stable flowing at good commercial rates.

"Gas and oil-condensate continue to be produced to sales at substantial commercial rates. The well has tested at rates similar to adjacent fields where individual wells commonly flow in the range of 5 to 15 million cubic feet of gas per day."

http://www.asx.com.au/asx/statistic...rchByCode&releasedDuringCode=W&issuerCode=STX

 

[afroboy]

Re: STX - Strike Oil

MS+T, hold onto this one! Things are only beginning for STX. It's been a long wait but this is definitely one to hold for 2008.

 

[MS+Tradesim]

Re: STX - Strike Oil

More good news (maybe) along with complications:

http://www.asx.com.au/asx/statistic...rchByCode&releasedDuringCode=W&issuerCode=STX

The Hlavlinka Duncan 1 well has reached a depth of 7,800 feet and has encountered a substantial gas show in the well. A downhole mechanical problem associated with the drilling equipment coupled with this gas occurrence has resulted in the need to activate the BOP’s (blow out prevention equipment). The well is currently shut in and under control at the surface however part of the drilling assembly remains in the hole. Well control experts are now on location to help determine the future plan of operations.

The gas shows are interpreted to be associated with a sandstone interval in the Cook Mountain Formation which is a substantial productive horizon in the area. The significance of these gas shows cannot be determined until the section can be wireline logged and ultimately tested if warranted.

 

[MS+Tradesim]

Re: STX - Strike Oil

Good flow rate on the first tested well in their gas discovery field. Another two yet to be tested and 4th well to be redrilled.

Duncan 1 well, stabilised flow rates of 10.1 million cubic feet of gas per day and 260 barrels of light gravity condensate from the gas.

http://www.asx.com.au/asx/statistic...rchByCode&releasedDuringCode=W&issuerCode=STX

 

[dogwithflees1983]

Re: STX - Strike Oil

Strike seems to be getting a fair bit of coverage in the media of late. Another speccy buy recommendation in the West Australian today...Hartley's value the stock at 61c (double what stx is currently trading) with the significance of the Rayburn project yet to be understood by the general market. Also add that recent debt funding of $12.4m will be able to fund further drilling without the need to raise equity...thoughts?

 

[canal39]

Strike Oil

Can anyone give me more information about the latest valuations on Strike Oil. I know Hartley's have priced the stock at double it's current price but I have been told an analyst called Peter Strachan (spelling?) reckons if it doesn't get to $1.30, it will be an automatic takeover target. Is this bloke credible and what is his background please?

 

[dogwithflees1983]

Re: STX - Strike Oil

Just goggled the bloke, and found this! sounds like he is a gun. Lets hope he is right about his predictions for STX !

About Peter Strachan

Peter is a nationally recognised and respected analyst who has held senior positions in a number of prestigious stockbroking firms, ranging from Head of Research for Morgans in Melbourne, Manager Australian Sales at Credit Lyonnaise Securities – London , Corporate Director with Hartley Poynton and Senior Research Analyst for E.L. & C. Baillieu.

Peter holds a science degree majoring in metallurgy from University of Melbourne and is a Senior Fellow of Finsia. He has lived, worked and travelled outside of Australia for a total of 11 years, including nearly four years in London where he worked on the Asian desk of UK-based stockbroking firms.

During the late 1980’s Peter was active with the Securities Institute of Australia as a lecturer and lead lecturer for the Mining Investment unit of the SIA Diploma and is presently lead lecturer in the Industrial Analysis unit of the Finsia Graduate Diploma, based in Perth .

He has been a regular contributor to Western Australian newspaper and contributes a regular column for the Sunday Times and often quoted as an independent analyst in the West Australian Newspaper’s business section.

Peter applies his broad knowledge and experience of financial markets to enrich StockAnalysis and provide subscribers with accurate, timely and insightful analysis of stocks and market situations.

 

[dogwithflees1983]

Re: STX - Strike Oil

Big jump for STX this morning, currently up 13% .....no announcements as yet. Anyone dare to have a guess at why the SP has headed north in such a hurry this morning?
Cheers

 

[speculator101]

Re: STX - Strike Oil

Oil and Gas conference in Sydney today?
Market Re-Rating?
Or just the realisation that STX is making $4 million + a month, and got lots of exploration to go?

IMHO... And happy to be one.

 

[dogwithflees1983]

Re: STX - Strike Oil

Good to see the management of Strike being pro active about their future prospects and annoucing a company update. The market is certaintly taking some interest in the announcement with the SP jumping up 7% on a day when most mining stocks are in the red.
Loved the last slide which illustrated the future upside potential......

 

[doubledark]

Re: STX - Strike Oil

Oil and Gas conference in Sydney today?
Market Re-Rating?
Or just the realisation that STX is making $4 million + a month, and got lots of exploration to go?

IMHO... And happy to be one.

with the cost of oil now so low, does anyone know what the break even price of oil is for Strike?


thanks

 

[Trader Paul]

Re: STX - Strike Oil



Hi folks,

STX ... looking for some negative sentiment over the next
couple of months, as several negative time cycles come into
play, especially around:

2601-20022009 ... at least 4 negative time cycles
come into play, during this period.

Happy trading in 2009.

have a great day

paul



=====

 

[prana]

Re: STX - Strike Oil

saw the question above and thought I would leave a reply.

US production costs of operating costs, royalties and taxes amount
to about 30% of revenue leaving a comfortable operating margin of
AUD 4.30 per mcf of gas and AUD 43.00 per barrel of oil.

referring to USD $40 WTI. Released 29th of Jan 2009.

It is now at a major support line. Extremely low volumes. Disclaimer - existing holder.

 

[Gladman]

Re: STX - Strike Oil

Up nearly 20% today. High volume for the last week or two. Lots of buyers, hardly any sellers. Reaks of inside info. They got pulled up by the ASX today and pleaded ignorance. I got in today with a small position. Def worth a watch IMO. Anyone else following?

DYOR, I hold etc.

 

[prana]

Re: STX - Strike Oil

I'm looking at 26cents or so for an exit on this one, probably will see some downside now from intermediate correction after such a rally. Volumes were incredibly depressed before, some only by $2-3k trades per day. Single buyer moved markets by 15-25%, crazy. This volume is more realistic now.

 

[happytown]

Re: STX - Strike Oil

strike oil granted a new petroleum exploration licence over SA sthn cooper project area, targetting csg

in ann md states

“We are delighted at the granting of this new exploration licence in what is undoubtedly Australia’s premier onshore conventional oil and gas region and to be an early coal seam gas player in the area. Strike Oil is uniquely positioned to capitalise on the favourable market outlook for coal seam gas companies with a fast track exploration and development strategy with drilling planned to commence in the September quarter.

“We were particularly attracted to the location, close to major pipeline infrastructure and the encouraging findings of previous drilling and seismic work in the area,”

sp up 10% on reasonable volume

cheers