Based on my research, even at 16mD perm and 80% saturation, it...

Based on my research, even at 16mD perm and 80% saturation, it would take a lot more dewatering for gas to flow on a sustained basis. Therefore, given the rate of water influx is obviously far less than expected (in order for desorption pressure to be reached with so little water produced to date), the perm can't be at the 16-25mD - unless the saturation is even higher than 80% or the current production is something along the lines of 90% water and 10% gas. That was one piece of info that I would have loved but wasn't disclosed.

PSI, agree with your analysis regarding required flow rate. As to whether you buy STX versus other bargain oilies out there, it must be weighed against the potential upside. I doubt there is anything out there offering as much leverage to potential upside as STX relative to the information available and where the price is currently at

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