The Share Register - Sep 2023 onwards...

first thing i looked at when the AR hit.

Numbers are always interesting. Between the top 3, they are a shy under threshold for compulsory notification of T/O...i.e. if the sub 5% entities sitting under these custodian accounts managed to somehow miraculously combine into one, you would end up with a substantial holder sitting just under 20%.

HSBC...The masters of off shore accounts are now top of this list...where else have i seen them???

When you listen to Stuarts latest presentation - STX is in the ENVIABLE position of having the freehold ownership of the "precinct" - which allows them to develop already developed land, without triggering the dreaded EPBC review ... Neither MIN or their mates Hancock, have this...so you could see they will be frothing at the mouth to get their hands on it...if they are to achieve their ambitions of gas for their operations in 12 months... for as little as possible.

Short sold positions are up around 5% of the total SOI...so someone is "working"

Speculating now...given the narrative coming from Hancock in relation to STX management during the WGO takeover, I would expect any set back in Walyering operation will see the spin merchants reactivated, saying STX is mismanaged, bla bla...so they can come in and continue to mop up behind anyone dumping into any negative sentiment...

This is a critical time for STX...

• SE gas accumulation is being mapped as we speak...(im expecting thickening and coarsening of the Kingia north of Trigg northwest 1...based on TPDs geo's map of the Kingia thickness).
• successful field performance and operation at Walyering is critical, the TPD soa hinges on it (TPD is cactus without it)
• there is a GSA with its tongue hanging out waiting for gas, and
• the SE development is banking on Walyering revenues chipping in for the long lead items.

Double and triple checking things at Walyering and making sure you have trusted individuals on site overseeing the work is imperative - last thing you want is someone dropping the proverbial spanner in the works and upsetting the apple cart. So if it takes some more time to get the Walyering gas up and running...no biggie.

Similarly, you would want trusted STX individuals on the rig with eyes on all the critical elements during this critical time to ensure everything is being done right.