Ann: Wizard Lake Interim Results, page-32

For Stash,

I bought a small amount of STX a couple of weeks ago. Mainly because they were so excited about there new wizz bang reprocessing of the area at WE and put a very high chance of success. They have drilled through the first oil section and found hydrocarbons but not enough to be bothered to slow down and do further testing.

It all has no bearing on the leases held by WBE in the Perth Basin. Could be good for NWE which has a hot property and nearology in the immediate area.
I bought some so that I will be aware of price movements and announcements by having STX in my portfolio. If they find gas I will try to buy more.

WBE is much more fun, heaps of wells to drill and each one will find oil, the risk being in how much and how long they will produce for.
WBE now has income and a market capitalisation of $8M. STX has a market capitalisation of $70M and no income and spending huge amounts of money.

Saltbus