Ann: Senex reaches approvals milestone on WSGP, page-14

Forget your "too much spin" drama; I deal in facts.
If, as both Senex and Beach state in their quarterlies, there is an agreement to transfer the Lattice $43 million commitment to free-carry Senex, then you can spin it anyway you like but that is the actual agreement not something you dream up here on Senex threads to downramp Senex which you don't Hold and promote Beach which you do Hold based solely on your positive-spin interpretation of words in a Webcast.

Those words spoken were indeed, not inconsistent with the actual Subsequent Events extract from the Beach Quarterly to which I refer you below.

Beach Energy Limited | Quarterly Report for the period ended 31 March 2018
Page 15 of 16
Subsequent Events
Agreement with Senex to transfer free-carry commitment to Western Flank oil assets

Beach and Senex have reached agreement to transfer the remaining free-carry commitment on the
joint venture’s unconventional gas project to the Senex operated Cooper Basin Western Flank oil
assets. Beach’s recent acquisition of Lattice included the commitment to free-carry Senex for up to
$43 million of investment, exploring for unconventional gas in the Cooper Basin. After negotiations
with Senex, it has been agreed to transfer the commitment of up to $43 million to lower-risk, expected
higher-return oil opportunities in Western Flank permits ex PEL 104 and ex PEL 111 (Senex 60% and
operator, Beach 40%).
The joint venture will commence an agreed work program in early FY19 that includes at least three
horizontal development wells and seven exploration wells, and associated infrastructure, over
approximately 18 months. The former Lattice, earned interest in the unconventional gas acreage will
revert to Senex in full, subject to pre-emptive rights.