On watch, page-31

Will be interesting to see whether they can secure the rig they need (alongside some other operators) at a lower cost than they envisaged prior to Covid.
Also, part of me hopes they secure an option to drill South Errugulla with the same rig (after it used to drill the holes for other companies). Otherwise, it might be the middle of 2021 before they can secure a suitable rig, given the depths involved.

The kind of timeline I thinking about:
1. Q3: Drill WE-3/4.
2. Q4: Flow test and FID (while rig is with other operators).
3. Q4: If share price goes up (as it should), raise enough capital to drill WE-5 and and Southern Errugulla.
4. Exercise option.
5. Drill Southern Errugulla in early 2021.

Or am I just daydreaming?

About Southern Errugulla from last quarterly:

Merging multiple 3D and 2D datasets during the quarter has matured a lead south of West
Erregulla into what Strike believes to be a significant multi-Tcf prospect named ‘South
Erregulla’. The majority of South Erregulla is already covered in 3D seismic and Strike is currently
carrying a 50% chance of success for the target, which is reflective of the evolution in the
understanding of this play and the prospect’s proximity to the West Erregulla gas field.
The South Erregulla prospect, which lies at the same depth as West Erregulla, comprises a
series of fault blocks located to the south and southwest of the West Erregulla structure. This
series of faults is flanked to the west by a prominent down-to-basin fault and a large graben
separating it from the Beharra Terraces further to the West. To the east and south, the structures
exhibit monoclinal deepening into the Dandaragan trough.