Smart MoneyWeekly rant - Smart money is still holding. This opportunity hasn’t even began to play out yet. Management looks smarter than ever in my opinion. Raise money at $5.70 per share. You all realize that we have a fully funded 2018/2019 using the equity raise and cash in the bank, totalling nearly $70M.
Does it really matter what the share price is today? The flurry of results in the fall and winter of 2018 will begin to tell a bigger part of the story about who lost out and who won.
Sean believes that a yam-1 equivalent well would produce 5x the volume shown in the exploration well....bank on 15 mmcf on the equivalent well within the outer periphery of the basin next time. 15 mmcf/day will produce $110,000 in NG and about $35,000/day in condensate....at the low impact location.
What will happen at the next well? to 5,000 m??? In the centre of the basin with drilling and test equipment designed for extreme pressure and heat??? The crowds will rush in to hold shares before the start of the next three wells. Guaranteed.
STO is in this play to return multi-billions to the shareholders. If they walk after then 2018 results you can sell at a discount and run to the hills.....if STO does not walk, and there is no reason to believe they would, read between the lines and stick with it and don’t sell a single share.
Chicken littles on this board have not yet provided one good reason that this play will not succeed. Sean said that the stock returned 350% last year and we can expect a similar return in the near term. I believe and I’m happy to hold.