STP

Given where oil now is trading, just imagine what could happen to this company if, by any chance, STP would be able to not only get some positive results from that Read Earth pilot project (supposed to start by the end of Q2) but also could as that project progresses, would be able to indicate somehow how production from that site could be ramped up going forward.

Sure STP already have indicated that their objective here is to get a production in the future from Read Earth close to some 10.000 bpd, but not many seems to have taken that in to any consideration as of now, at least not valuation vice.

Not many it seems following STP e.g. analysts and the like seems to have noticed this Read Earth opportunity, or at least so far they have not included that project to any greater extent in their estimates, it seems.

Thus ANY positive outcome from that project would then imply a lot as far as STP valuation is concerned. Add then now also the price of oil and it's even clearer this might have a real inpact on the market.

In the meanwhile we all hope the winter core hole drilling program is progressing well and that the schedule related to production at McKay 1 as well as related to the application relevant for McKay 2 is moving forward as expected.

A well developed McKay project with future growth opportunity must be something worth while considering for the neigbouring PetroChina?

As we speak: we have WTI above $101 and Brent above $115. Now that's as we have discussed here earlier oil prices on new levels that indicates they may have a a long ways to go uppwards from here..