Ann: Receipt of non-binding indicative proposal - Beach Energy, page-55

the amount of hubris from STX offer is astounding - given that they would be better placed to recognise the value that full control of WE would represent to its future plans - BPT low offer is oppountistic and no surprise given the lowball from STX.

Did Poynton + SN factor that KS & japs may come up with a bid? I doubt it - hubris leads to oversight now results in STX growth pathway being vulnerable

BPT has onshore export permit. How much does WGO share of reserves represent in gas export pricing as compared to STX value add fertiliser?

Answer - WGO is undervalued