In all fairness re- hedging, 2021 hedges were in put in place (most likely to satisfy MQB) when oil was trading in the high 40's, so $51 average isn't too bad. 2022 hedges will improve from $49 when they take the plunge - hopefully when they choose to, not when the bank says so.
All the more reason to give MQB the flick at the first opportunity. If Talos choose to delay until CY2022, then we could dump MQB in July, and fund GC21 or lightning or both from cash.
Bank 15M to cover these two then start paying divis.
Ann: H1 FY21 Results and Half Year Report, page-25
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