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STX 9.6¢

Ann: Underwriting of Entitlement Offer

  1. ASX News

    94,761 posts.
    • Release Date: 18/01/12 19:14
    • Summary: Underwriting of Entitlement Offer
    • Price Sensitive: Yes
    • Download Document
  2. hard man

    3,072 posts.

    what a surprise.

    with a buy stack that has bulked up with plenty of large bids between 10.5 and 12.5 u/w would be queuing up to take 5% of a 10c CR for next to zero risk.

    still, it could be a nice warm up for them for the next cap raising at 20c+ after the cooper drill results are known.

  3. estseon

    1,642 posts.

    It might signal plans for drilling by Eagle Landing are going firm and that they need to secure the funding for advance payments on the drilling. STX allocated half of the new money to this project. Its neighbour in the EFS in Fayette county, GeoResources (In a JV with Nabors, the drilling giant), is proposing to fracc FOUR wells towards the end of this month using a new completion design that they have been mulling over for about 3 months. That's what they say.

    There could be some interesting news flow over the next couple of months.

    The NPV10 value of STX's share of Eagle Landing could be up to 40% of AUT's certified NPV 10 reserves. There's a lot of upside potential just for this asset.

    AUT has secured debt funding in Karnes county further west in the trend and EKA is in the process of doing similar. With GeoResources drilling away next door and providing useful data, there could be the possibility that Eagle Landing could raise debt funding at an early stage of the testing of its acreage. They might need to raise further equity funding to drill a number of test wells but there is a chance that future dilution will be limited.

  4. ricky99

    1,702 posts.

    nice way to throw away 100k

  5. Starrr

    1,422 posts.

    I think a swap of some
    Kind for shares in a larger holding in EFord preferably in a USA listed vehicles
    Could see instant value of say 40 cents and Jane that put to shareholders and stay an Aissie cOmpany with a world class
    Assets and an acre holding leader. A few dOllars for that and get rid of the silly coal.

    The dragon. Game starts next

  6. Hardcash

    3,318 posts.

    i think I can understand what you are saying Starrr????

    ....you think STX will swap their acres for a lesser share of a bigger pie with an EFS big hitter? ...which could result in a re-rate to 40 cents - nice?

    Who's Jane may I ask? ...and what do you think is going to be proposed to Aussie shareholders??.....something about staying an Aussie Company, an acre leading holder???

    Help me a little pls.....


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