Ann: South Erregulla Success Unlocks Project Haber, page-124

Georgia14, Gentlemen

...despite todays share price reaction, I think, now is time to celebrate...

• the Permian fairway theory confirmed
• no GWC intersected
• (in my view) about 600 BCF in 100% owned license discovered
• the major Project Haber unlocked
• and plenty of headroom for more Permian discoveries in our 100% owned acreage confirmed

...well deserved for the holders after all the noise here at hotcopper in the last weeks re this drilling...

This discovery is the key to unlock a multi-billion value for Strike and its shareholders...
Congratulations to Stuart and the great STX team!!!!

I prepared the resource model for the entire South Erregulla strutures to get an initial idea of the potential resource (within EP503 only, w/o the extension into EP469 and w/o the leads within EP503).

For the sake of full transparency I attached a table with all variables, assumptions and sources used in the model. Perhaps @OldGeo , @Jogoo or @Ya might have a quick-check, if these assumptions and variables makes sense and are reasonable from a professional point of view for such an early estimate...

I went to the more conservative side in the model e.g. re. the Wagina and now used a recovery factor of just 20% for the "gasifier" section. It remains a lot of upside for the potential resource if a constant recharge from this large section can be confirmed in the future and a larger assumption for recovery factor can be applied...

But anyway, the model came-up with the following figures for recoverable hydrocarbon resource:

=> Wagina: 341 BCF (thereof 156 BCF from the gasifier section)
=> Kingia: 249 BCF

=> Total: 590 BCF

It shows that the Wagina is of even higher significance for future exploration activities. All must be confirmed by appraisal activities - drilling with similar results and 3D seismic data etc. (they will get a much clearer picture of the distribution of the gas charged Wagina) but I think, it's a first initial view what we might have in the SE structure...

A gate to a multi-billion value company...




The Assumptions: