RE:RE:RE:OK so let me kick this off.....Bow Energy started out as a .15 cent stock. Taken out for 1.52 in dec 2011. Strata-X has all the similarities to be navigated down the same road but will need some time to get things right.
Bow Energy suffered similar setbacks where the share price took a few shots to the gut but picked itself up and was eyed by RDS and eventually taken out. I am looking for SXE to make me a boatload more in 2014 considering I have been holding since the days of Oz Capital.
There was mystery around the buying in the dot H company back then and when Prefontaine's past history was revealed the stock gapped.
There is so much mystery surrounding this group and they are stirring up the pot now in ND.
The new year in North Dakota looks like it will be another record-breaker in terms of oil and natural gas production levels, along with a few surprises that may include adding another shale formation to the prolific Bakken/Three Forks plays.
State oil/gas officials are anticipating that oil production will reach the 1 million b/d threshold in the first half of 2014 after already crashing through the 1 Bcf/d natural gas production level last September. The new records will be set with a relatively flat number of drilling rigs now varying from about 185 to 190 (see Shale Daily, Dec. 23, 2013).
An added geographical area to watch has emerged in the state's oil/gas patch regarding prospects for new gas supplies from a part of the Niobrara Shale that extends into south-central North Dakota. Denver-based Strata-X Energy is stirring speculation with its four new permits from the North Dakota Department of Mineral Resources (DMR) to drill exploratory wells aimed at the Niobrara in Emmons and McIntosh counties, far from the heart of the state's robust Bakken production.
When the state issued the permits, DMR Director Lynn Helms issued a press release because it is "so rare to see anything issued this far east of Highway 93," a rough eastern boundary for the Bakken/Three Forks activity.
Called the Sleeping Giant Project, Strata-X said it has four drilling locations identified among 145,000 net mineral acres (190,000 gross acres) in the southeastern parts of the Williston Basin in North Dakota.
The publicly held exploration and production (E&P) company also has oil projects in California, Texas and Illinois, along with a project in western Australia. But in North Dakota it is touting both the strategic location and the Niobrara gas production potential.
Located on relatively flat agricultural land with existing roads and other infrastructure, Sleeping Giant is near two interstate gas pipelines, and field services are available in both Bismarck and Williston, the company said on its website.
"The Niobrara formation in this area has been overlooked despite gas shows and small flares being reported. In the mid-2000s four wells were drilled in this part of North Dakota to test shallow gas shows. None of them were completed as all were drilled off-structure for the Niobrara gas play."
NGI's Shale Daily contacted Strata-X regarding more detail that the company has on past attempts to unlock Niobrara potential in North Dakota, but the company did not readily respond. DMR maintainsonline information tracking shallow gas plays in the state, but there is no recent information posted currently.