Not quite the same scenario but the Metgasco saga warrants inclusion in the same textbook.
In this case the Metgasco board recommended a sale at knock down price of their PEL back to the NSW government despite the fact that a court had determined that the government had acted unlawfully. This PEL contained "the largest onshore gas find in Australia in the last 100 years".
This find would (and may yet will) have had a major impact on the gas shortage in NSW. Prophecies of doom pestilence and excommunication followed and unfortunately the vote was passed.
Perhaps an oversimplified summary but hopefully the result will be different in this case.
CTP Price at posting:
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