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7.0¢ strata-x energy limited

I agree Plough, However I have been hounding management to raise...

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30/06/14

00:30

Post #: 13586615
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Originally posted by plough ↑

Good points matyd but they only had $3.8M in their treasury at the end of March with cash burn of $4.4M for that quarter ,
Yes a placement of $1.8M has been done since then but given the development pipeline with the Vail horizontal and also fraccing needed at Maverick plus Sleeping Giant drilling all 100% WI then I feel they will be needing more placements and unless there are spectacular results from their drilling the placements are going to hurt the shareprice.
THerefore I will probably sit out this one from the sidelines for a few months , as have seen first hand unfortunately the negative effect of placements on a oiler company (AKK) even with great Initial flow rate results coming in .
Wish you guys well in the interim.

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I agree Plough,

However I have been hounding management to raise for some months and they keep saying "No" watch the news flow - they seem bloody sure there onto something.

SXA Price at posting: 31.0¢ Sentiment: Buy Disclosure: Held
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