30c shares listing on Wednesday closed up 12% in Canada last night at 42 canadian cents.
Strong campaign to begin after lisiting.
SUMMARY The company has a large working interest (operator) in significant oil and gas assets across unconventional fairways in the USA (EAGLE FORD SHALE) and the highly prospective CANNING BASIN Australia which offer the potential for near-term production. Notable standouts in the ASX listed space with Eagle Ford exposure are currently Aurora Oil & Gas (AUT) and for the highly prospective Canning Basin, (Buru Energy, BRU).
SOLID BOARD
Ron Prefontaine (Ex Arrow Energy/Bow Energy): Over 33 years of experience in the oil and gas industry and a Chariman of the Board for Strata-X Energy. Between 2001 and 2011 he was an Executive and Managing Director of two successful Australian Stock Exchange listed companies, Arrow Energy and Bow Energy. Arrow Energy was taken over in 2010 for $3.5 billion and Bow Energy in late 2011 for $550 million.
Tim Hoops (MD): President of Peak Resource Management Inc., a private oil and gas exploration company, since 1984. He has also been President and Director of Kestrel Energy Inc., a NASDAQ listed company, from 1992 to 2005, and a director of Victoria Petroleum NL, a company listed on the Australian Stock Exchange, from 1988 to 2008.
KEY PROJECTS
• MAVERICK OIL PROJECT, USA ~ 10,945 net acres in EAGLE FORD SHALE trend. The Maverick project is located on the same oil condensate boundary as AURORA OIL & GAS (AUT) (see attached presentation). • VAIL OIL PROJECT USA ~ 45,400 net acres in onshore basin where in excess 4.3bn barrels of oil have been produced, targeting 50,000 net acres; • SLEEPING GIANT GAS PROJECT USA ~ 175,000 net acres with a TCF of gas potential; • CANNING BASIN PROJECT, Australia ~ 1.4m acres located on the highly prospective Laurel shale fairway.
INVESTMENT HIGHLIGHTS
1. Multiple ‘Company Maker” project potential – large tenement position, 100% ownership, 1.1bn bbls in place 2. New technologies have unlocked the potential in basins known to have substantial oil reserves 3. Favourable operating and regulatory environment – access to infrastructure, oil price upside 4. Solid Board and management – including Ron Prefontaine and Tim Hoops
SXA Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
