Chimera,
The directors that bought big clearly simply got it wrong, they did so when some thought further drilling in tui area would be like hooking fish in a barrel. None of these large stakeholder directors were oil men.
But yes I am confused as to why they didn't adapt and just pay out the cash flow - one must assume a certain pride and arrogance that they (non oilmen that they are) could find better than par alternative oil investments eg Vietnam and Timor Sea.
EL
less than cash backing and producing, page-7
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