Minres speculation, page-118

The perched water theory could be correct but I'm not convinced and here is my reasoning why...... Only if the GWC was at 4630 and it's not perched and it is contiguous sands then SE moving south will be under water

I believe that not long after WGO took over PRL there was a feeling from some within that the Scot's weren't capable of running the show and it wouldn't be long before STX took WGO over. As history will show this wasn't the case however at the time imo it was only a matter of time therefore there was little thought or regarded given to what happens if STX don't get WGO gas

If you look at that as their mind set then everything was done to push the WGO chances down and change focus on anything else other than EP469 and the FID to squeeze the life out of WGO. STX never thought that WGO would have been able to secure the Alcoa contract.

So given that STX now have to turn their attention to their 100% owned SE block "filled to spill" "1.6TCF" I believe this was to isolate WGO and eventually take them over on the cheap. Why else would you commence a drilling campaign with limited 2D and NO 3D desperation, incompetence or the fear of the fairway not being there ????

Again another master stroke pulled by the Scots was to get Hancock to the table which put the cat amongst the pigeons and as one could see showed up the conflicts in the WGO Board as to who supported who. (Doesn't bode well for TPD)

But put all that aside and in the past STX now have to deal with a JV partner that won't be bullied. Have to prove up enough resources in SE to make it a game changer and having thrown enough BS around, Haber, Precinct, Jaws, Geothermal, Ocean Hill, the storey lines are running thin.

However hats off to those that believe in the STX storey and I hope you/they make a lot of money no one wants to see punters lose money.

I have my views which don't go well with most but that's my views and delighted to be proved wrong if you all make good money.