Without a gas rate or a composition its a meaningless...

Without a gas rate or a composition its a meaningless announcement. No change since the last update really. The release is a response to market price pressure yesterday.

When Queensland Gas was dewatering Argyle, the CSM project that got the whole play moving in the end, they were proving weekly BHPs, water rates and gas rates so the market could judge the performance of the 5-spot trial development by itself. When the water rate plummeted and gas rate went through the roof within the space of a release, thats when i backed up the truck (re: early performance in the Powder River Basin).

Unfortunately, whether it is real or not, the perception at the moment is that Strike is not being “straight” with shareholders and not putting all the cards on the table in order to finesse the parallel capital requirements of Jaws and WE.

Whether WE is a success or not, more capital will be required in the September quarter. If the well comes in of course, there are more options.