Ann: South Erregulla Update, page-132

looks like the last two wells do not make up anywhere near 50% of strikes assets (not to mention the $130M cash they hold) yet the market seems to treat this as so. Am I wrong in assuming this?
There also should still be exploration value in SE2 and SE3 As there is still a chance hey can be brought into production at a later date with some work.

also unlikely a director would have forked out $75k on shares if this test and the last were 50% of the company's net worth.

As only 3% of the shares traded today (in value terms) some stop loss and panic selling seems more likely