i don't know if your statement of "reckless/suspicious management spending", is a fair assessment .
in my opinion they seem quite ok with the manner in which they expend funds etc, i feel that they were a bit bullish on getting a hit first round and the drill result surprised them as much as all of us. knocked the wind out of them it seems. If anything they may need greater expertise of where and how to go about the drilling process ???
my suspicion is that the gascoyne region may not be what it was cracked up to be...i wonder how things are going with delta.
fingers crossed we hit something and get a company maker. VERY SOON GUYS
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