Ann: STX Acquires Interest in Highly Attractive Perth Basin Block, page-9

Rexsh/HC(and others) you would have to think we are going to have a restructure of some sort with Strike...serious commitment here - $11M...funding?? But we know the (new) management are highly competent and have major connections across the O&G landscape...something brewing here and not just now in relation to JAWS...IMO...

Key Terms of the Acquisition Strike has agreed the following key terms for its transaction with Warrego:
1. Acquisition – 50% of EP 469 and operatorship.
2. Joint Venture – Unincorporated joint venture formed on settlement of the acquisition and entry into a joint operating agreement.
3. Cash Consideration – Strike to pay Warrego cash consideration in the following tranches: • A$350,000 at settlement; and • A$250,000 prior to commencement of exploration operations by Strike on the Permit and not later than 1 January 2019.
4. Carry – Strike to sole fund 100% of the cost of drilling and completing one exploration well within the Permit and carrying out related G&G Studies and G&A costs, up to a maximum expenditure amount of A$11,000,000, within 24 months of commencement of the joint venture.