Ann: SE3 confirms continuity at South Erregulla, page-99

I thought the same. i.e. someone plugged the results into their model and didn't like the results.
But the rapid sell-down (on open) and heavy bot actions might indicate otherwise.
You'd think it would take longer for a large holder to update their reserves models and then decide to sell. Also, the data released was limited.
It looks to me more like a coordinated sell-down. Everyone knew Strike would be releasing their SE3 results prior to the TPD vote, and it might've been someone's strategy to spoil the party.
I also note that despite the series of great announcements we've had the past few months, there is always someone willing to sell and keep it around that 40-cent mark.
Perhaps someone is hoping a 60 cents offer (50% premium) might get it done.
I also note the clock may be ticking on a change to WA's gas reservation policy.
So, after the SOA vote it behind us, we might see a move sooner rather than later.
It's pure speculation by me, but it seems a lot of well-credential people, including STX, are a little bit bemused by today's price action.
I cannot see how today's announcement (of another drilling success) can be construed as negative. 'Neutral' (or priced-in) maybe, but not negative.