STX - STRIKE ENERGY LIMITED

[healyn]

Announcement out.

[mme]

In reply to: healyn on Thursday 11/05/06 10:37am

Into the business end with Cypress Webernick 2. Think the spelling is correct. http://www.sharescene.com/html/emoticons/biggrin.gif

[mangrove]

In reply to: mme on Thursday 11/05/06 10:42am

The gross revenue from the gas and oil sales is now worth about $30.000.00 per day to STX.

 

Time for the share price to respond to the increasing revenue and get over 40 cents again.

 

Cheers............M.

[gr|ff]

In reply to: mangrove on Thursday 11/05/06 08:56am

hey mangrove

 

howd you go about getting the $30 000 per day figure?

 

cheers

[mangrove]

In reply to: gr|ff on Thursday 11/05/06 11:42am

Flow rates are from the Quaterly with a recent update on Shefcik today.

 

Shefcik 1 - 7m cu ft pd.

 

Shefcik 3 - 8m

 

Webernick 1 - 5m

 

Total 20m. Strikes share of revenue. 20% is 4mbls pd.@ $7.00 per 1000 cuft. = $28000 pd.

 

Condensate total 275 bls pd. STX share 20%. is 70 bls pd @ $60 pbl = $4200 pd

 

Total daily income $32200.00 approx.

 

Cheers..........M.

[oldman river]

In reply to: mangrove on Thursday 11/05/06 05:31pm

your $30000 a day roughly equates to my $3M per qtr, so we agree.

 

The problem for me at present is they spent $7M in the last quarter. Now you can't expect them to find anything with doing some drilling, and that does cost money, but you wouldn't want too many quarters at $7M a throw.

 

I think STX has some very interesting drillings coming up over the next year. I hope they have enough dosh in the kitty and enough cashflow to complete these without having to go back to sh'ers again.

 

The key to an increasing share price is not to continually issue out more shares.

[sturds]

wouldn't the extra costs be related to 3/4 succesful wells like the intital setup of the production faciltity etc??... If so its not really a concern in the long run... cant wait to see what they do with all the extra cash http://www.sharescene.com/html/emoticons/smile.gif

[mangrove]

In reply to: oldman river on Thursday 11/05/06 08:32pm

Hi OMR,

 

Agree with all you say. I wouldn't like to see any more cap raisings.

 

I may have a chance to speak with them at the convention here on the Gold Goast and I am looking for things to resolve.

 

I will discuss your comments and report back.

 

I hope they come good. I have a few.

 

They started off with a rush and have slowed down a bit.

 

Cheers..........M.

[afroboy]

What convention is being held on the Gold Coast? I am in Brissy and might drive down for it. When is it?

 

I'm sure you will, but I'll say it anyway... get as much info as you can out of Simon!! http://www.sharescene.com/html/emoticons/smile.gif

 

What I would like to know is what their plans are for Mesquite. How many more wells are they going to drill... it's easy for them to show a few rigs on a "preliminary" schedule, but what production facilities are they expecting to install?

 

When will testing on the current 4 wells be complete?

 

When will drilling in the Rockys commence?

 

What else is in the "pipeline"? http://www.sharescene.com/html/emoticons/smile.gif

[mangrove]

In reply to: afroboy on Thursday 11/05/06 08:58pm

There is an Oil and Gas convention at the Gold Coast Convention centre. (I forget what it is called)

 

Largely it is for the trade and their suppliers but most Oilers are represented there. You can't get in without a pass or someone to give you one.

 

I will note your questions and try to get answers.

 

Cheers.......M.