Ann: Exploration Update, page-94

With the last 16 months of complete and utter frustration ,and knowing we are trading at half the true value of this stock , taking the combination of shorters / corporate manipulators controlling our share price for various reasons, it is just infuriating . However , I just can't see the long term benefit of selling WE . When you consider the real value of our current assets , plus OH and A and K realestate , the approval to supply the LNG market , plus the change in government thinking re gas as a transition energy , as base load back up to renewables , gas is NOW being re rated as a absolute must for energy transition . STX will be producing income from 70 mill to a estimated 130 mill pa in 18 months time , the government desire you reduce coal fired power stations , the up side for STX to me seems very significant as to NOT be selling off WE . I unlike others believe we have a very strong board with great corporate experience and history , I think Nev is a very astute operator and will have many options on the table , but I do question the boards decision on 800k for the acting CEO, that is just over the top IMO . My thought is if Hancock pull back on FID why couldn't STX go it alone subject to JV terms and conditions with our 50% , then do a JV for a gas turbine plant with our WE gas ( not just a peaking power plant ) , then not needing to build a processing plant, or toll processing , but go direct to a gas turbine plant producing electrons 24/7 or part there of , if the transmission grid was upgraded (is this a feesable concept ???? )', I am sure a number of energy providers would be interested in gaining more energy and market position over there competitors . The income from being an energy provider would be significant and bankable revenue for further exploration , having a JV partner with funds to develop is just one opportunity for WE and many more once the results of ED are confirmed . I try to never lose sight of what STX is sitting on , Mitsui and Beach have a real problems currently failed drill holes , a processing plant not functioning to specification , and a depleting gas reserve and no further realestate to explore , then we have Wesfarmers , Alcoa and there future gas requirements . I have no doubt there are a great number of high revenue producing opportunities , positive JVs in my view are the way through with mutually beneficial partnerships who's interests are aligned will release our true value again , and not leave us sitting out wide being monstered by corperate bullies
and shorters waiting for a CR . There is far more value long term retaining all our gas charged realestate that selling it off IMO . MinRes sold for approx 1.1 billion and also retained 50% of under developed realestate with Hancock , they had no certified reserves and STX is at 500 mill market cap , you compare the value for your self .