Ann: South Erregulla Update, page-3

Hi All

This announcement should lay to rest any doubts about Strike's strategy or tactics - both are visionary.

Within two years, the Company will be awash in cash with production from Walyering imminent and from South Erregulla by the end of 2024. It is entirely possible that dividends could begin to flow along with SE's gas.

The build-offsite-modular model is genius. With labour costs in remote areas inflated - and that's when skilled workers can be sourced - the plan to 'build in town and transport to site' will be the classic win-win for Company and communities in which fabrication occurs.

Note, too, the emphasis on renewables and carbon capture. As I've said often, whatever your view on climate change, the fact is that energy companies will come under tremendous regulatory pressure to reduce or eliminate (balance) nett emissions. Strike's foresight and thinking is already years ahead of competitors.

Today's announcement won't move the share price needle - it seems the shorters are whittling away with a view to covering in the high 30s - but it should give comfort to those long-termers hoping to see this thing through to maturity.

OOO