Primarily the fact that the BOD and Stu disagreed on the GAS, Stu was in favour, the BOD it is implied were not, Stu left.
My observations in relation to the GAS are:-
OH - That cashflow to drill OH2 is IMO available, and that the BOD have chosen not to proceed with it at this point. Walyering delivers sufficient net cash to fund 2 OH drills p.a. without dipping into reserves. Walyering - we drilled W7 & W8 and built the DBNGP interconnector, not one additional Gj has been produced/sold off the back of those events. WE/ED - more complex due to Hancock acquiring MIN assets, my gut tells me this was the sticking point between SN and the BOD SE - the only project that can be currently considered as "progressing".
STX Price at posting:
16.3¢ Sentiment: Hold Disclosure: Held
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