did nelson sell out too cheaply??, page-8

"(On separate matters, in hindsight the decision to unwind hedging has bit them on the bum. In their defence, hands up who had the foresight to see oil visit $30 again. And the Egypt duster.......well dusters are part of the game with oil exploration.)"

snout,

I invite you to go through my past BPT posts about the price of oil.

I will put my hand up as you asked. I stated many many times that IMHO, oil prices could not be maintained at those levels, unless someone wanted to see the world going broke or facing an enormous financial crisis and huge inflation.

I was never believed, totally ignored, if not ridiculed. Now, you come out with this statement.

NOW, IF I COULD SEE THAT, AS A SIMPLE BEAN COUNTER, WHY COULDN'T MANAGEMENT SEE THAT? ONE HAS TO WONDER!!!!

I stated many times before that IMHO, if Reg was selling the gas part of TW, the share price would suffer. Again I was ignored and ridiculed, as the sale was only of some non core asset totally irrelevant to our business. Now I am totally vindicated. The sp, is confirming what I said.

As for Egypt, again I stated that Reg was in the wrong track there. If the wells were going to be so good, why wasn't the operators doing the drilling themselves, lol.??

And, when the first drill proved to be a duster, and Santos packed up and went home, why didn't Reg do the same?? Yet, he insisted on staying there and spend more millions (DID HE EVER SAY HOW MUCH IT ALL COSTED TO DATE?), in looking for the end of the rainbow.
IMHO, good management do those things only when times are very good and have plenty of cash in reserves in order to mitigate very good profits before taxes, and to possibly being able to waste. Not during times like we are experiencing now, LOL.

But, since you have the question, my thoughts have been outlayed.

Buddy