Hi Rick Totally agree. The operational blips and bumps along the...

Hi Rick

Totally agree. The operational blips and bumps along the road are to be expected and much better than genuine missteps.

If we are all a little disappointed with losing time over something innocuous like a pump not starting up or working properly from the get-go imagine the frustration within the company. Stuart said himself in a recent announcement he was “eager”to get going.

I don’t see this as a wait for yes/no commercial result over a few months. Reading between the lines of the quarterly there are capital initiatives being considered. So, we quite possibly could have a funded story across the next 6-12 months IMO. If that transpires then that will be both newsworthy and reassuring. Furthermore, we are likely to learn more around plans for West Erregulla. If the Company navigates the next year without a capital raise that will surprise a few learned punters on this forum Andre be a huge filip in my opinion to the share price.

Back to the Cooper, we are likely to receive in the next week some explanation for whatever the pump issue is/was, then hopefully start of dewatering, potential information on water flow rates etc.

In summary, we look to be in one of those temporary and mildly frustrating holding periods but there’s plenty to look forward to and I don’t see STX as a duck or no dinner one shot on goal anymore. Only in the last week there has been more market commentary reiterating that it’s not just supply - read import gas terminals - but new AND affordable east coast gas supply that is needed. Being in the Cooper, there of course is the optionality if commerciality is proven of part of the resource becoming a primary source of gas feed to the Gladstone plants. I’m not aware of any other commercial resource having so many options to market. Let alone the potential size up to 11Tcf which is mind blowing.

So much potential in both the east and west coast supply markets. The competition is ourselves, as in commerciality of STX reserves and ability in the short term to execute to prove it to the the market and other industry participants. Nonetheless, in the short term not surprising to see market weakness. Every holder has reasons to buy in or sell out. I had a look overnight and quite a lot of yesterday’s volume was through a cross trade within a broker. That’s not a sign for alarm.

Be great to fast forward a month or two but for now, not much to see but I expect plenty of newsflow across both key assets in the next 2-3 months.

Best to all...

Adaltiora