5YP:"So yeah, Jurgen stuffed up on not farm-ing out Gurame, but...

5YP:


"So yeah, Jurgen stuffed up on not farm-ing out Gurame, but many were happy to hold into the test and take a punt on success as he did, so retrospectively bleating when it doesn't come in is a bit hypocritical. If you didn't like the 100% decision then, you should have sold - as many did."

Why should I have sold when I am a long term investor in this company?
I have been a shareholder for over 6 years and hold my shares for the original goal of getting TS off the ground as it was an elegant solution to all that high CO2 stranded gas in the Timor Sea and surrounds.
To say I should have sold when they throw in a gamble on a doubtful drill and then sole risk half the company's wealth on that same well is outright wrong.

I would like to see the company I invested in for the long term, to show a bit of Mea Culpa and not just brush it off with a wistful "regrettable" throw away line.

This company had a solid business model, which was trashed with Gurame's sole risk.

Why should we, as shareholders, just cop it sweet and hope for the best, when the company's own guidelines were ignored?

If it was just the CEO who was responsible for this failure, then why should we risk what is left of shareholder equity on the same team that failed us in the recent past?

The cockyness of the MEO team at the last AGM was just an embarrassment after recent drill failures and this latest announcement tells me nothing has changed at all.

"Regrettably" still holding out for TS to come to fruition, but I have my doubts now without a root & branch review of what now seems to be a business as usual position from the same board.