Ann: H1 FY24 Results Webinar Details, page-47

Hi @invertedva
I sent these questions below a week ago. initially I had a reply that Management would respond however was later updated to communicate all of these questions would be addressed publicly during the Webinar.

1. What specific oversights or shortcomings led to the failures in flow testing at SE-2 and SE-3, and what actions are being taken to rectify these failures promptly?

2. How do you justify the discrepancies between the initial expectations and the observed testing results at both wells, particularly regarding the failure to recognize a gas-water column and the challenges encountered in flow testing at SE-2?
In regard to questions 1&2 does the Company accept the level of communication has provided uncertainty contributing to a halving of market capitalization in one week?

3. Are there any indications of inadequate planning, execution, or oversight that may have contributed to these failures, and what measures are being implemented to prevent similar incidents in future drilling and testing operations?

4. Given the substantial investments made in the South Erregulla project, what assurances can you provide shareholders and stakeholders that lessons learned from these failures will be effectively applied to mitigate risks and optimize future operations?

5. What is your response to the amount of short sellers and abnormal share trading volume observed in the lead-up to the SE2 announcement and on the morning of the SE3 announcement? Do you believe this activity reflects informed trading or any breaches of confidentiality?

6. Can you provide any insights into the internal processes and controls in place to safeguard against insider trading and ensure fair and transparent market conduct?I expect a thorough and forthright response to these inquiries to address the serious concerns arising from the failures at SE-2 and SE-3, as well as the associated trading activity.