Stratex Oil & Gas Holdings Inc (STTX)

[PlatypusRx]

"Since March 17,20l5,the V/ell is averaging between 400-500 MCFD per day," says a Request for Agency Action filed last Friday with the UT Oil and Gas Commission on Friday (see link, below). The gas is coming so hard and fast that Whiting is having to choke back the production of fluids. Rumors I am hearing say considerable drilling fluids remain to be recovered, and yet half of flows are oil. If so, this is pretty unusual, and would comport with earlier rumors that the well is significantly over-pressured (a good thing).

According to the filing, there isn't another productive well for 22 miles in any direction. This is a new discovery. STTX only owns a 3% WI on the test well and 5% of the remaining locations on the 20K acre joint venture. Nevertheless, they control 100% WI interest on another 30+ square miles abutting the Whiting acreage to the west.

https://fs.ogm.utah.gov/bbooks/2015/02_Feb/Dockets/2015-001_176-05_Whiting/2015-001_20150403.2_AmendedRequestForAgencyAction.pdf