Ann: West Erregulla receives EPA Approval, page-74

And clearly you are not alone in your thinking. Would I agree?

On Walyering, no, horrid mistake IMO. Price it at nameplate would be the base line, if you subscribe to the theory that it will never hit nameplate then I believe that logic is flawed.
On WE, no, also a mistake, both the Enviro approval and lapsing of the CSBP GSA are evidence that an IGV is no longer an appropriate methodology. Worst case scenario, reduce the risk rating to reflect improved probability of going into production.
On SE, I am ambivalent on this. 2P reserves are 2P reserves, even though they are small. They have some value. If the market wants to ascribe zero to it, I won't argue.

To me, I think retail are currently presented with a rare opportunity, it is at this type of juncture where real money may be made. My reluctance to add to my holding was based primarily around the relationship with Macquarie. Without Macquarie, the pace of growth would have been heavily curtailed. With the Tranche A $60M refinance facility approved, that major obstacle is cleared IMO. Tranche B, the WE facility, has since taken two major leaps forward, this is now very close to a done deal IMO. Tranche C, SE plant, meh, can watch that unfold over the next 5-6 months. It's on the periphery.

It's time to place your bets. If you want to bet on max 24 Tj/day for Walyering and no FID on WE, don't buy STX would be the natural choice.

JMO. Not advice. DYOR.