|Bid||0.0500 x 0|
|Ask||0.0580 x 0|
|Day's range||0.0500 - 0.0520|
|52-week range||0.0470 - 0.0760|
|Beta (5Y monthly)||0.46|
|PE ratio (TTM)||N/A|
|Forward dividend & yield||N/A (N/A)|
|1y target est||1.77|
The directors and management of Strata-X Energy Ltd. (“Strata-X” or the “Company”) (TSX-V:SXE) (ASX:SXA) are pleased to announce that the Company is undertaking a non-brokered private placement to sophisticated and institutional investors in Australia of up to 18,000,000 Units (“Units”) in the Company at a price of A$0.05 per Unit for gross proceeds of up to A$900,000 (“Placement”). Each Unit consists of one Chess Depository Unit (“CDI”) and one half of one option. The funds raised from the Placement will primarily be used to progress the Company’s recently announced CSG project in the Surat Basin (Queensland, Australia), ongoing environmental and development studies on the Company’s 100% owned Serowe CSG Project in Botswana, repayment of a director loan (matched by a Placement subscription by the director), lease maintenance, costs of the Placement and general working capital.
Strata X Energy Ltd and Real Energy Ltd are the Preferred 50:50 Bidders for a highly prospective Surat Basin (Australia) Coal Seam Gas (CSG) tenement targeting Walloon coals. The tenement is surrounded by major CSG producing tenements and covers 153 km2 approximately 9 km west of Miles, Queensland. The tenement is located within 6 km of a gas pipeline connected to east coast gas markets offering the potential for early cash flows once the significant gas resources are progressively converted to reserves.
NDA signed with Botswana Development Corporation (BDC) to allow due diligence required for a multi-staged US$10 million finance package targeting the appraisal and development of Strata-X’s 100% owned Serowe CBM Project. BDC is the largest investment holding company in Botswana. Serowe CBM Project has been estimated to contain up to 6 TCF of Prospective Resource.
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Highlights Approval of the Scoping Form in advancement of the Environmental Impact Assessment (“EIA”).Full EIA report will be submitted in September with final approval.
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MHA Petroleum Consultants, independent qualified reserve and resource certifiers, have certified the following gas resources within Strata-X’s 100% owned Serowe CSG Project in Botswana. ASX disclosure note - 5.28.2 – Prospective Resources - The estimated quantities of petroleum that may potentially be recovered by the application of a future development project(s) relate to undiscovered accumulations. DENVER, and BRISBANE, Australia and VANCOUVER, British Columbia, May 14, 2019 (GLOBE NEWSWIRE) -- The directors and management of Strata-X Energy Ltd. (“Strata-X” or the “Company”) (SXE.V) (ASX:SXA) are pleased to announce that, following the integration of regional data and data acquired in Strata-X’s latest 19B-1 well, MHA Petroleum Consultants have upgraded the gas resources within the Company’s 100% owned Serowe CSG Project.
The directors and management of Strata-X Energy Ltd. (“Strata-X” or the “Company”) (SXE.V) (ASX:SXA) are pleased to announce that 40 year petroleum veteran, Ron Prefontaine, has accepted the position of Executive Chariman of Strata-X. His primary focus will be to direct the commercialisation of Strata-X’s 100% owned Botswana CSG project.
All seams were gassy with several coals containing high gas saturations up to 100%. Several high gas saturated coals had good CSG permeabilities of up to 100 millidarcies. Gas contents recorded up to 5.81 cubic metres per tonne.