Stratex Oil & Gas Holdings Inc (STTX)

[Oilcard]

The Moruni #1 logs published on the UDOGM site indicate typical to higher than normal oil shale porosity but there is over 700 feet of it! The one section that Richfield highlighted in their presentation using the anisotropic log is, without comparison, the most unusual and prolific i have ever seen. This is likely caused by excessive faulting caused by the profundity of the gunnison thrust that is present to the west. From what I can see, Whiting did not find this same section in their #11 since they were able to drill it and set pipe whereas the #1 was not able to because of collapsing hole. I am not sure why they were unable to get the plugs out in the sections they fracked. It doesn't make sense that they just decided to leave them in the hole. Perhaps it is from shearing or possible too high of pressure, as in a few cases in the Eagle Ford.