Ann: Strike delivers maiden Perth Basin gas reserve, page-145

The events to convert the resources to reserves will be the 3D seismic, completion and testing of WE3 and WE5, drilling of WE6 as well as successful drill at SE. Success at WE3 should convert some or all of the 1C north of WE3 into 2P. Successful flow test at WE5 (and later WE6) to clearly delineate the flow zones (especially below 4630m TVDSS) should help to reduce the size of the perched water lens assumed in NSAI's model, and convert some of the 3P below 4630m in the Eastern flank into 2P. I believe the 3D seismic is to help clarify the rock volumes to firm up the contingent and prospective resources in the Western flanks. A successful drill at SE, with good quality well data, should help to firm up some of the contingent resource in the Southern flank. So other than WE6 well, the other data points should be available to NSAI progressively within the next 9 months.

This is just my take from the call yesterday. Hope this helps.

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