Ann: Discussions with Strike Energy, page-319

That's a good list of questions.

Some additional comments:
Strike must have been spewing at Walyering's success after they sold 45% to TPD in July 2020 for just $1M direct cost. And there are further prospects still to be drilled in EP 447 just to the north.

I guess that STX would have put up a ridiculously high price for Ocean Hill to try to claw back their position after their commercial failure on the generous farm out conditions they gave to TPD on Walyering.

I also guess that TEG did not want to deal with STX, so the farm in by TPD on favourable terms would have rubbed salt in the wounds. The 3D info subsequently released by TEG and the farm in by NZO confirms that TPD is on a good thing, and I also guess that Darren Ferdinando's guidance would have been instrumental in our farm in.

The reality is that Strike have not been good project managers and many will now be questioning their ambitious exploration and development program and coming to the inevitable realisation that Strike do not have the financial capacity to do everything they said they want to do. My guess is they want to do $200M of work within the next 2 years, but they only had $100M net cash at the end of June, and they cannot borrow the $100M shortfall.

Hence my uneducated guess is that Strike's options are limited and their Board must already be feeling the squeeze on their opportunities. Just wait until Macquarie applies the blowtorch to those opportunities.