Ann: STX Acquires Interest in Highly Attractive Perth Basin Block, page-23

No, that is incorrect.

Warrego has been trying to farm-out this well for a number of years (+/- 5 years) and they were originally focussed on the deep gas section. The seismic farm-in was done (by 2 dutch Co's I recall) and the 3D shot, but the companies walked away because of the slow progress and lack of positive results. They were targetting the gas sequence. When the permit reverted to 100% the group reinvigorated the work and started focussing on the shallow section as it was a cheaper option and the well commitment was looming. They were also short of cash themselves.

This block has been around for yonks. Not much has changed with the exception of Waitsia and the well control is poor, so there are no regional guarantees.

Interestingly, Lattice and AWE are focussing their new efforts further south of Warrego, where they are looking to shoot a 3D survey in EP 413 but adjacent to EPA 98 and 82.

It would also worry me a tad that this diversification into WA is a hedge against the Southern Cooper project.

Not a holder, but I have been in the past.

AL