Like a few others on this board I wasnt initially keen on the asset sale. I couldnt see the point in selling an asset with such strong future fundamentals at this point in time however as we have progressed through the year a strong case was built for the asset sale including strategic realignment to nrth am oil/gas, financing better projects (a sale could come down to a choice between legacy or mungi - no way should we sell legacy as it is our best asset), and the huge projected cost to produce gas in aus.
So it became important mgmt sell this asset and is now aligned to mgmt ability to deliver. They really needed to deliver this sale on time with a good result for market confidence to be restored. Unfortunately this hasn't been the case.
Add to My Watchlist
What is My Watchlist?