Ann: BOARD UNANIMOUSLY RECOMMEND RE-DOMICILIATION AND US LISTING, page-284

Stay strong people.

We should all understand what's happening here. Crude prices are falling on global growth / over-supply concerns. US shale is experiencing a mini-collapse. And to top it all off, the re-dom has forced many to sell (e.g. some super funds can't hold US equities) and scaring away new investors. Its culminating in a price rout

These are my reasons for continuing to hold:

1. I believe the company took the opportunity to hedge prices for its un-contracted supply at the time of the Saudi drone attack. This will be revealed in the next several weeks when the QAR drops
2. The re-dom is pushing prices below fair value. This presents a rare buy opportunity. I believe (all things being equal) we'll bounce back when the re-dom occurs and dust settles
3. While not a primary factor, I believe there's a real chance of a geopolitical black swan event in the Middle East or Persian Gulf which could cause a significant and immediate POG re-rate.