Analyst Update, page-333

Toot's,

Jaws has reached desorption.....this was in the days of David Wrench and nothing to do with Stuart N.

WE 1.2 TCF......there is still plenty more exploration to come at WE, that figure is still possible.

SE Filled to spill 1.6 TCF....after the failures at SE2&3, the 1.6 number is now a fairy tale.

Perched water theory.....this relates to West Erregulla 4, and we know West Erregulla 5 produced gas below the depth of WE4, so in that instance it probably was a water lense.

Haber.....Haber is real, doable, but higher local gas prices have made the capital cost (ROI, return on investment) and effort of Haber redundant.

Geothermal.....this is real and doable but at present STX focus is all about proving up Nat gas reserves, green energy is in the bottom draw for now.

The Precinct....STX owns it 100%, not sure what your criticism is here???

We have WGO......not sure l ever remember STX declaring they "have WGO" in the bag.....