Ann: Appendix 3Y Stuart Nicholls, page-50

An outbreak of common sense!

It astounds me that anyone would be questioning Stu's remuneration. I'm possibly a typical story. Bought in at an average of seven cents under previous management. Sold out at six cents when it seemed they had little clue how to progress things. Bought back - in a massive hurry - at 6.5 cents when Stu & Co. looked to have solved that puzzle with Jaws, then ...

Ramped up my buying as the Perth Basin story became the main event. Yeah, increased my average to 15 cents but have now built a solid position and will do really nicely if this thing comes off. So from my perspective, Stu is worth every penny.

As for the Board, yeah they might have dipped the snout in the trough a bit early in the piece, but I look at them not as pigs but as ducks. WTF? Well it seems to me - I'm a clueless Victorian leper, so what would I know - that Strike is deeply imbedded within the top echelon of WA business and there is plenty of paddling going on under the surface. Am I right? because if so, the Board's contacts will be invaluable in delivering maximum value. For evidence, see the gas pre-sales already negotiated.

For what it's worth - okay, zero - I seriously doubt Strike will go the distance. Is there not a WA bloke called Kerry Stokes who has a bit to do with Beach Energy? Wonder if he knows anyone on our Board? And wonder if he knows what's going on with Strike and the Basin? My best guess ... or biggest hope? That we make a big discovery at SE and get taken out for a motza by Beach.

Disclaimer: I have absolutely no idea but am a renowned theorist. LOL

OOO