Ann: Full Year Results - Financial Year Ended 30 June 2023, page-14

Frankie brought the company back from the death.

Origin got lucky on Tristar's permits and that underpinned almost everything with China demand for gas driving all the upside. They have a fixed price gas contract for DDPS (now a peaker) for 40 odd PJs at about $4/5 per GJ so gas margins on that is a easily $400m p.a .

One just needs to count how much money has been raised (debt and equity) to pay for all the acquisition GKing had made.

the best one must have been the Poseidon field $650m (USD) flushed straight down the toilet - i think it was written off the few minutes after the contract signing ink dried - much worse than Rio Tinto's foray into barging 20m - 30m p.a tonnes of coal down the Zambezi... given that Rio was much bigger company relatively to Origin.

Add the NSW eraring power station (no coal) , Uranquity power station >$1bn (semi mothballed due to lack of gas).


Frank fixed the debt, tried to risk manage commodity price risk (but at times took wrong way risk...) de leveraged and improved cash flows and rolled on a small scale the Kraken dice....

all he needs to do know for the sake of shareholders is to politely tell the buyers to up their bids by 30-40% ...its only fair for those who have stuck by...