What will be most enjoyable is that from July on, for the next...

What will be most enjoyable is that from July on, for the next 18 months, STX news flow will predominantly be from its 100% owned acreage/permits across the PB, Haber, energy, sustainability initiatives et al. Contemporaneously of course, the EP469 post FID project works will take place but there will be little material news flow with this watching the paint dry stuff - over this 12-18 month dark period. With SP sensitive activities focused towards STX 100% owned permits and other big initiatives from July, these activities, progress announcements and news flow will hopefully be observed, debated, reviewed, challenged or otherwise in a healthy dialogue between posters who primarily, have made an investment choice to back the Company's vision and ideally continue to enjoy strong value accretion as the new capital is deployed. This will be a refreshing change (away from punishing JV discourse) and STX holders can simply enjoy the plethora of updates and HC contributions across the huge variety of initiatives the Company is assiduously working across.

There are so many STX holders , who contribute to these threads, that I enjoy reading and learning from their different perspectives, experiences and opinions.

The two companies that initially started with similar MC's a couple of years ago around one permit JV have chosen vastly different directions. That's life - companies are like people - we/they all make different choices. These different choices have naturally manifested in a different activity focus, with different future news flows, prospects and potential value. The same-same belligerent protestations from some of the EP469 JV partner holders who post here, when the companies are different-different, is becoming very tiresome for lots of folks. So hopefully from July this will dissipate or possibly even cease.

Our EP469 JV partner holders can separately enjoy the post FID construction updates across the JV dark period and also whatever else the Company is up to with their nascent Spanish endeavour. Hopefully that will be enough to sate their frustrations from the results of past choices and temper their need to vent on STX threads, banging on about comparative valuations and other mindless drivel that no one on the STX forum cares about. Thankfully the more time that elapses there will increasingly be little to compare. Please let it go! If you remain frustrated with your original investment, simply sell and move on.

Last night an investment colleague rang me and said the EP469 JV partner had some new broker coverage that had a TP ~60c higher than the current SP. OMG I could only imagine the titillation that would have created across the famished-faithful. Checked this morning and the SP moved one lousy cent. What an anti-climax. Some CSI-Perth application and the dots are likely joined. Jilted broker connects to Company that IMO will need to find fifty large ($50m) to have sufficient equity for 21/22 when costs ramp-up but material JV news flow ceases. Project debt funding only goes so far.

It's all so 80's, can just envisage posters cheering the intellectual race to the bottom, some news flow catalyst - near or medium term - drop the trading halt then cheers turns to tears. The smart money has seen this movie many times and always finds the exits before the movie credits have finished, Caveat emptor on news flow!!

The big change in the markets and the emerging elephant in the room that simply will not go away is the increasing difficulty for oil and gas firms to carve out successful strategies to create sustainable value for shareholders. This is what has my attention with my STX investment. The important issues that are totally vexing the industry right now. The issues that if a company, its BOD and leadership do not firstly address and then get right could place value creation at risk, or even worse lead to value destruction. Totally agree that it's not without considerable risk (is any change risk-free) but for STX to become a big company, worth billions as Tui likes to say (and I'm right with you Tui) the global themes and voices of the rapidly changing investor universe have to be appreciated and adapted to. This necessitates a company being able to articulate a compelling narrative for sustainability and future proofing. How STX does that is what I'm focused on. Most other stuff is irrelevant noise.

If the likes of Woodside, Beach and other household names now have increasing difficulty creating value then its fundamental that STX is planning to transform what could be a massive Perth Basin gas endowment into something different - their choice is for an integrated energy, power, fertiliser company. This is why I come to this forum generally on a weekly basis. To hear thoughts from other posters around this strategy, the challenges, updates et al. Check my thinking against the views of others around the important and defining challenges. This transformation is going to demand a huge lift from management. It's no slam dunk but the rewards for successful execution could be very large. This is what I'm interested in. Looking ahead, backing a company that's having a real go at being different - not for being different but to both survive and prosper - and cutting through, kicking huge goals. The great disruptor!! A rising tide doesn't float all boats in the O&G world anymore. The 80's, 90's even 00's they are long gone.

It will feel like Christmas in July when this forum is focused on one potentially great company.

Bring on the flow test, bring on 21/22 focus on 100% STX permits and initiatives.

Cheers and GLTA

Adaltiora