Ann: Strike Set for a Transformational Second Half of 2021, page-58

Anyone worked out where ~1800 PJe comes from and how you can report undiscovered gas in PJe? PJe relates to sales gas which means you need to know % inerts and heating value amongst other things. Based on the 2 reports referenced in the footnote, Waylering is targeting P50 Prospective OGIP of 86 bcf and South Erregulla P50 OGIP of 1.6Tcf. This gives 1686 bcf which is ~1800 PJe. However, this is Gas In Place. Assuming a 70% recovery factor and 8% inerts (release 11 Sept. 2019), this would only get to ~1200 PJe.

Has Strike once again over-inflated the numbers?

Apart from the fact this announcement doesn't state that this is unrisked prospective resource, it doesn't state whether the 1800 PJe is a P50 or best estimate or not. Also, the cautionary statement on prospective resources needs to have equal prominence in the ASX release under ASX listing rule 5.28.2 and shouldn't be buried in a footnote. When is ASX going to pull STX up on their releases?

Waylering is no longer material if SE comes in.