General Discussion, page-3317

Thanks for reaching out @Elwood12, and thanks for the tap on the shoulder @Spockie

Yes I am still very much a holder. Haven't sold anything. In fact, I added a few more recently. I can somewhat understand the market's sentiment and analysts' valuations. The indefinite delay to WE FID and expected cashflow has put a huge dent in its DCF valuation. Hence why I have been advocating for sale of WE for a long time. Anyway, let's see what options come out of the strateguc review and what the new CEO decides.

The lack of increase with Walyering production has been a disappointment. The fact that STX is only maintaining production at 25TJ/d suggests they don't have confidence in the reserve numbers to produce beyond the 1P.

The progress with SE peaker is encouraging and the expected 40 to 50mn annual revenue will be very welcomed to improve the operating cashflow, but don't expect any improvement in net profit for 2 to 3 years as a lot of it will be used to service and pay down the debt.

Now that they have firmed up a drillable candidate for OH, the faster they can drill an appraisal well there, the better. I will be pretty annoyed if they choose not to drill a hole before the last drill rig leaves the PB at the end of the year.

The new CEO can't start soon enough. JH clearly doesn't know enough about the business operational details to speak without reading off a prepared script. Even then, it makes for very uncomfortable listening. Given she is basically not making any big decisions, I don't understand why we agreed to pay her the same salary as SN to basically keep the seat warm.

So why have I decided to hold my STX positions? In spite of the issues with static Walyering productions, delayed WE FID and a seemingly static/paralysed board, the company equity is worth far more than the current market pricing regardless of whether they choose to keep or sell WE. I am genuinely surprised Hancock or WES CEF hasn't made an opportunistic bid yet. I haven't bothered reading and posting as much on HC mainly because of so much illogical, negative noises. Don't translate my level of HC activities as a reflection of my sentiment on STX

I have also noticed a recent trend of positive correlation between our SP and those of the Lithium sector. Perhaps the market sees our future value (driven by gas demand and pricing) being dependent on the fortunes of the large WA miners.

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