I think that what has transpired is more out of luck and desire...

I think that what has transpired is more out of luck and desire for the asset than anything the Directors have done.

Remember this?

14 November 2022 Announcement.

"Warrego Energy Limited advises that it has now entered into a Scheme Implementation Deed ("SID") with Beach Energy Limited (ASX: BPT, Beach) under which Beach has agreed to acquire all the issued shares in Warrego by way of scheme of arrangement (the “Scheme”).

The Base Scheme Consideration of $0.20 per share represents a 36% premium to Warrego’s 1-month VWAP to 9 November 2022.
The all cash consideration would also deliver cash certain value to Warrego shareholders for their shares.

The Board of Warrego (Board) unanimously recommends that Warrego shareholders vote in favour of the Scheme"

Yeah nah, we good thanks! If we listened to their recommendation we would have sold our shares for half of what they are now worth.