In may 2011 FAR was around 9.5c... I'm not a mathematician but...

In may 2011 FAR was around 9.5c... I'm not a mathematician but that's more than 50%... And far has paid zero dividends...

Now you may have a poor memory, but Coleman inherited a LNG project that was supposed to be near completion but had some significant cost blows just as he started (which he inherited and had no control over).

So yes $100 oil, a lot of debt, and a silly time in the industry. Woodside was questioned why they didn't follow the likes of BHP into shale and why they couldn't do M&A deals when all prices were high (pre 2015 crash). Looking back its hard to point to a project in that 2011 to 2014 period that stands economically today, costs were stupid. The same can be said on M&A.

Oil performed poorly, but among the companies I showed on the chart woodside had a higher dividend yeild so outperformed.

Not a steller return, but cyclical industries run in cycles. Woodside has far more reserves for the next upcycle. When I was buying FMG in 2014-2016 there were bears, there were people pointing to under performance etc. My $3.75 average there was underwater for quite some time. It's cyclical industries just in different parts of their cycles. I'm comfortable sitting on WPL knowing they will be there when things tick up.