Great news they are now fully funded for Alvares.
Unbelievable buying at these prices i am going to be pinning my ears back and buying more.
Estimates for Alvares is 2.4Tcf which is the equivalent of 400 million barrels of oil.
Xstate has a 21% interest in Alvares which is the equivalent of 500bcf of gas or 80 million barrels of oil.
Back of the envelope calculations at $10 per barrel it could be worth $800m to XST. Even at $1 per barrel it is worth $80m. Current market cap is only $4m.
Ann: Successful Placement for Sacramento Basin Operations, page-3
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