Well, the new well producing 2300 bod is really a good news. Now STU may daily produce more than 2000 barrels oil. Similar to CVN whose market value is more than 250 million.
The new well also may increase STU's oil reserve to 7--10 million barrels.
Stuarts tenements potentially contain WORLD-CLASS GAS RESOURCES, of significance to Australia and the Pacific/Indian Ocean region.
20 TCF CSG, market value $ 90 billion.
So if STU holds $90 billion underground value, I believe the market should rerate STU to $3--5 soon.
"Stuarts northern acreage is inpart underlain by a single Toolachee coal seam which exceeds 30 metres in thickness, while its southern acreage hosts Patchawarra coals which cumulatively exceed 25 metres in thickness.
MHAs studies concluded that Stuarts coals have the potential to contain in excess of 20 TCF of Coal Gasin-place."
Shale gas:
50 TCF in Place: and structural lows Permian Shales are comparable in area, thickness, depth, organic content, thermal maturity and pipeline infrastructure with currently productive Shale Gas provinces in the United States.
STU Price at posting:
59.0¢ Sentiment: None Disclosure: Not Held
