Ann: 2Q FY24 Quarterly Report & Appendix 5B, page-265

Why do think that non participating parties to a well for example would ever want to use a buyback into a sole risk well of the sort provided in JOAs? As you should know, those provisions normally provide for a buy back in for a multiple of the costs incurred by the sole risk party. The AIEN draft envisages that might be up to 700% of the costs incurred by the sole risk party.

I think you will find that the production from a sole risk well belongs to the sole risk party either exclusively or up to a predetermined limit giving them a return on their investment. We don’t know here what the JOA says but it is unlikely to forbid sole risk operations. I doubt that it would have been in Strike’s interests to prevent those when they first farmed in.