EXR Trading 2023, page-1517

I know I signed off for the year, but I made the mistake of having a glance at some of the latest doom and gloom posts. I have tempered my boundless enthusiasm for EXR some time ago but honestly consider this:

1. They were able to raise $6.5m AUD overnight at 8.5c in possibly an even tougher environment than the GFC, certainly in this sector, this despite a CR including an SPP at 7c not 2 months ago. Those type of deep pockets don't commit so readily without a confidence that they will get significant returns in the very short term.

2. The progress of Grandis has exceeded all expectations by any yardstick.

3. We encountered FREE FLOWING GAS

4. We have already entered a data sharing agreement with a major who just happens to be an immediate neighbour

5. This aspect of the business is not and was never intended to be a long term play, it is entirely reasonable to expect a payout on this play before Q3 of 2024 and a company making one at that if it all plays out

6. The hyperbole over COP28 will die down in the coming weeks and the very real need to address the energy crisis in the East Coast will assume centre stage in 2024.

7. In the vast majority of CRs the SP drops below the CR price in the short term and it provides a fantastic opportunity for those with vested interest to shake out the nervous nellies by appearing to stack the sell side.

Anyway, just my 2c, I'm by no means a cheerleader but I really felt the need to counter the doom merchants. The shares are due to be issued today, there will no doubt be some more games played but when I come back to HC mid January I would be astonished, frankly, if we are still sitting where we are now.

GLTAH.