PANR webinar, page-24

Agree DW certainly looked after holders with excellent communications, can't say the same with replacement imo and earns almost $1mil a year, in cash and performance shares etc.

I do like the location, but the SP traction is obviously impacted by successive duds, delays, issuing 20 Bil SOI, poor communications which has certainly dropped off sadly since DW's departure and importantly a very tight drilling window, plus not completing this drill until 2024, has certainly suffocated the SP.

I won't be selling out all my personal holdings if SP doesn't rally over into the 2's or 3's. May as well keep for 12 months enjoy CGT relief. Will probably sell my super holdings.

Company imo obviously have so much to lose re-this well and that's why they remain tight lipped. Might only get 2 updates. Can't see the new MD announcing anything like going through each zone, SMD's etc if no hydrocarbons present. As soon as he does SP will collapse, so probably only get 2 updates like Merlin 2 as was fairly quiet. Sadly, this is how I see the updates going after nothing but silence since the 9th.

1. BOP tested and cemented.
2. Reached TD and multiply hydrocarbons or P&A
OR hopefully NOT another
2. Rig issues and have to leave!