They are looking at re-entering Alvares the gas monster very soon (early next quarter) which had 1.5 kilometres of gas shows during previous drilling.
Best estimate has Alvares at 2.4Tcf of gas but an Energy News bulletin article mentions that Alvares could hold up to 10Tcf of gas.
“Alvares has flow risks but significant upside of 2.4-10Tcf”
https://www.energynewsbulletin.net/exploration/news/1100188/boots-on-ground-boosts-xstate
2.4Tcf 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.
Do the numbers on what 500bcf of gas (80 million barrels of oil) would be worth to XST – telephone book numbers. Even 10% of this number would add significant value to Xstate and the share price. Do the maths on numbers in excess of 2.4Tcf of gas (400 million barrels of oil) and take it up to 10Tcf of gas (1.6 billion barrels of oil) and your jaw will hit the ground like mine did !!
GLTAH’S!!
Alvares the Gas Monster
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