STX 2.44% 21.0¢ strike energy limited

Ann: Exploration Update, page-120

  1. 8,697 Posts.
    lightbulb Created with Sketch. 3338
    Fair point, Bevans.
    This information was actually released, albeit is slightly confusing form, in the first webinar after the SE2/3.
    It was a sequence of unforatunate circumstances from the tool failure to unusual water readings, but I can understand why they forged ahead given 1). previous results 2). tight schedule on the rig (if they passed up a slot they might not get it back for months) and, 3). possible replacement tools were not available on short notice.
    I can see why most people standing in SN's shoes would make the same decision. Sure they were sailing close to the wind, but as a high-risk investor, I am happy for CEOs to take sensible risks. Strike's survival from WE2 until the WGO transction through to the transition from explorer to producer was based on a series of such bets. But sometimes you roll the dice and things don't go your way.


    Last edited by invertedva: 03/05/24
 
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