Ann: SXA reports oil flow on Burkett 5-34HOR, Vai, page-6

re: Ann: SXA reports oil flow on Burkett 5-34... Yep I think this para from todays ann says it all.

At the start of the project, several risk factors needed to be evaluated, including oil saturations, reservoir properties and engineering aspects. We have de-risked most of these factors and now with a better understanding of this reservoir believe we can manage the remaining risks on achieving COMMERCIAL production of the 338 million barrels of PIIP in the Middle Devonian as estimated by our reservoir engineering consultants Chapman Engineering."
Read more at http://www.stockhouse.com/news/press-releases/2014/05/22/strata-x-reports-oil-flow-on-burkett-5-34hor-vail-oil-project#tjdFG6z6085umbeb.99


eeermm assume a piddling 10% recover rate at a 50% recycle ratio at todays oil price would put a NPV on this of around about $1.5 Billion.

And I thought the market was forward looking!!!