Not necessarily. CUE had more invested in Ironbark in relative terms than NZO. So the SP was always going to fall more if it was a duster.
Conversely SP was probably going to rise a lot more too if it was a gusher.
SP may have been 17c prior to Ironbark but how much did the drill cost CUE?
Ann: Ironbark-1 Update, page-23
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