Stratex Oil & Gas Holdings Inc (STTX)

[PlatypusRx]

We are hearing bullish rumors about the new Matthews well in the San Miguel formation, drilled by Quadrant LLC -- very substantial production numbers. To earn it's 50% interest, Quadrant was obligated, under a deal announced in April 2014, to establish production by June 15. Apparently, that part is done and STTX is acquiring additional acreage, possibly in collaboration with another public company, Eagleford Energy. The following comes from the STTX website:

"...the Zavala County Lease covers and includes the Surface-San Miguel Interval underlying such lands, which we call the Development Area. At such point in time, Stratex and Eagleford Zavala will each hold a 25% working interest in the Development Area. With respect to seven of the eight Phase I Wells, Stratex has the right to receive 16.66% of the revenues before Payout and 25.0% of the revenues after Payout. Management believes that there are up to 42 horizontal drilling locations in the Eagle Ford formation alone as well as 14 horizontal locations in the Austin Chalk and 32 horizontal locations in the Buda, with significant additional inventory available from the San Miguel formation locations."