Ann: SXA Receives Preliminary Environmental Approval, page-14

No fracking required, clean energy and TOU could potentially de-risk the play regionally for SXA.

IF TOU are successful with extracting commercial quantities of gas, SXA could double or triple from these levels prior to spudding in December. If they are unsuccessful, SXA will have their own opportunity to prove up the play with the downside risk being somewhat protected given their small market cap and tight register.

DYOR