Ann: Terms agreed for $153m Development Funding Package, page-140

Big D, this is not one of your better takes. The $40M Tranche D facility was/is undrawn, and given it was due to expire on 31/12/24, would have expired undrawn. So, the new $60M facility does replace it, but the undrawn component of the new facility will be approx. $47M (less fees which are TBC).

The new $60M facility will provide STX with the ability to push on with W8, W9, W10, OH2, Becos1 and any other drill they desire (subject to rig availability) without even glancing at the bank account. Given that the June 24 principal repayment will be the last for Tranches A-C, Walyering revenue will no longer be directed to debt reduction for the foreseeable future. Rig availability, not cashflow, will be the only constraint on exploration growth now the $60M facility is in place.

FID on WE I interpret as only subject to WA enviro approval, anticipated shortly. Cashflow will not be an obstacle to WE going into production IMO, the WES GSA whilst inferior relative to current pricing, still underwrites the WE debt if/when FID is taken.
FID on SE, well first I think we need a bit more information over and above the Euroz analyst scuttlebutt. Can we first hear the plan before we get too wound up about funding?

STX did take a massive hit when SE2/SE3 failed, and IMO the greatest risk was the loss of support of MAQ. I think we have now passed bottom, not advice, JMO, DYOR.