Ann: Walyering-7 Flow Test Update, page-56

Why do you think they are all catalysts?

Silence on W7 doesn’t mean there is repressed good news. If the news was good it would be price sensitive and should have been announced immediately. If the news is poor, some rationalisation is being applied internally in Strike about it not being bad enough to need immediate announcement (for example). Expect to see a W7 announcement shortly after or coterminous with ED1 news using the old political dark art of distraction to sneak bad news out.

ED1

Domgas - irrelevant as I have said before - Strike won’t have enough gas to be sold and the NWS partners would all have to agree. As some of them might harbour designs on Strike why would they agree to improve its share price?

WE - I have already commented on the funding issues facing Strike, potentially very costly to shareholders at the least and more than achievable possibly.

Peaker Plant - relies on finding funding, AEMO allocating capacity credits, Warrego not insisting on unitisation of SE1 (which hasn’t gone away just because everyone on this site thinks a pronouncement by Stu has put that to bed forever), and its not going the way of all the other paper projects put up to excite investors (Haber, geothermal, carbon capture).

ADD the unanswered questions over the integrity of W6 I have asked, why a slick line unit deployed, what happened to all the opening up of new zones? Is W6 in rude good health or dying/dead? Walyering increasingly looks like a one trick pony named W5…

I am looking forward to seeing the quarterly next week as the numbers will hopefully tell us more than recent announcements.

Strike cannot be holding price sensitive cards under the sleeves without breach of the ASX regulations. Anything else won’t really affect a takeover bid, if one ever comes.

I fully expect to receive a load of abuse from the Strike fanboys for questioning the hotcopperarti orthodoxies. Please note that I am going to ignore all of that and will only respond to proper debate about the substance of my points or deal appropriately with actively defamatory points.