Stratex Oil & Gas Holdings Inc (STTX)

[PlatypusRx]

At the hearing yesterday, Whiting was granted permission to produce the well for 270 days. We learned that the well has been opened back up after being shut in for a couple of weeks. They will have to let the pressure bleed off for a day or two before they can install the jet pump.

Jet pumps can handle huge flows -- up to 20,000 bbls per day -- are capable of moving large quantities of sand and other solids, and are relatively impervious to acid. An added advantage is that, although jet pumps are big energy hogs, they can be powered by well gas -- which is what Whiting appears to be planning here. You can read more about jet pumps at: http://www.flowfastjetpumps.com/documents/Rethink-ArtflLift_whitepaper.pdf

Sidebar discussions with the hearing officers point to some real excitement about the implications of the Moroni discovery.