Ann: Hydrocarbon gas recovered & evaluation program forward plan, page-241

As I suspected end of last week further issues with this well, similar to their first well, another sidetrack to be done, smart decision, prevent destroying the other zones and overall wells integrity... Plenty of gas indications, super high pressure opposed to poor pressure not a bad problem to have, so I expect a decent reserve will be announced down the track, company has cash, but we all know a further CR to come in 2024 prior to flow test.

This week expect SP will hit back over 20c as they progress sidetrack, so potentially a quick profit before the cycle continues again in 2024. This sell off this morning was predictable, as I was sensing after their last RNS of minor tool issues/delays etc.

Won't see significant SP rallies until flow testing happens in 2024, the earlier this can be done the better ... This was always to me a quick 30-35c play, didn't happen due to reasons covered on here. We have gas and plenty of excitement will return leading up to flow testing... Back in draw until then... Life of an appraisal well, so not doom and gloom, but another accumulation opportunity, before we flow test....