Ann: Strike Takeover Offer for UIL Energy, page-34

Hi Mir,

Been a bit surprised at some of the negative comments. Way too early to form a reasonable view. And to suggest that this corporate action implies that Jaws will be a dud seems a total over-reaction.

We've just had an announcement on Jaws flare ignition with the Company saying things are on track. That doesn't sound too equivocal. Now the October Update makes sense as joining the dots I expect this is an appeal (now) to the shareholders of the Target that shares in STX could be very valuable (or at least more valuable that maybe a higher cash offer from others).

IMO before rushing to premature judgment let's wait and see the Target Statement which I recall, from the announcement, requires an Independent Expert's report on whether the offer is fair and reasonable. If this is the case, that's fabulous as a third party will have to comment on all assets of STX because the consideration for the transaction is STX shares. This should prove very interesting reading for all, both existing STX shareholders, TargetCo shareholders and numerous market watchers who are on the sidelines but surely watching the Cooper (Jaws) progress.

There were a lot of doubters and questions when the Company dived into West Erregulla. Those sentiments have generally turned positive. IMO it's probably fair to assume the Company has a very good geological read on what may be happening in the Perth Basin and they are acting on that analysis.

I'm even more confident that exciting times ahead over the next 12 months. IMO there is substantial potential for huge value creation. The October Update certainly reads that way.

GLTA!!

Cheers

Adaltiora