Hi Ox, You must be wondering whether you went to the STX AGM, or...

Hi Ox,

You must be wondering whether you went to the STX AGM, or maybe just imagined it after this week's price falls.

The market environment seems to have quickly switched to risk-off. Both Strike and Senex have halved in value from recent peaks. UIL, cap raising and Cooper expectations all have all ended up in a cocktail of concern for many.

IMO there is probably not much in the field (Cooper) in recent days that is impacting daily share price moves at the moment. No doubt Stuart's hopes for a pre end Year uptick in flows with calendar closing in on 31/12 is front of mind for some together with some comments around skin etc as possible explanation for rates not taking off (yet). I remain of the view that thoughts from outside the Company on how reservoir is reacting are pin the tail on the donkey stuff, however well-intentioned and simply fills the vacuum while the pilot plays out.

Unless there is a Christmas update, a quasi update from a poster in contact with SN or director buying (always a calming signal), it's probably best to put on the head phones and/or start on the holiday reading. As mentioned the other day I'm happy they have excellent down hole measurement so those on the ground are not dealing with a black box, other than the obvious reservoir nuances.

No one likes a falling share price. It seems like a parallel universe to the potential outlined in the October Update. Stuart's public commentary and the enthusiasm noted by Ox at the AGM. We are all hoping for good news on the horizon. Those who contributed to $13m capital raising are unlikely to be ecstatic with a 7/8 c price. However, I'm very happy they parted with the cash as having a decent runway keeps all shareholders well in the game if the Cooper and/or Perth Basin opportunities kick-off.

Anyone out there still upset the Company raised money or now has the optionality from two prospective plays!!!?

Happy Christmas/New Year to all and really hoping one of the two shoes, Cooper or WE, drops (positively) in H1 2019.

Cheers

Adaltiora