Ann: Woodside to acquire Tellurian and Driftwood LNG, page-52

Ofcourse. No one is suggesting the adoption of a “hit and miss” attitude. Indeed, there’s nothing to suggest WDS did simply take a hit and miss attitude in relation to this acquisition. Judging from a historical perspective WDS is a conservative custodian of capital. One would be hard pressed to find many examples of spare cash being “ blown against the wall”. Retuning excess funds to shareholders is good…but not always the most prudent way to manage cash, particularly when a unique acquisition opportunity presents. A one-off increase in a dividend is no match for an acquisition that can deliver long term benefits to shareholders.