Ann: Daily share buy-back notice - Appendix 3E-KAR.AX, page-30

This is a company with no debt (tick), deep pocket (tick) you are 100 % right, unfortunately managed by a bunch of amateur and non astute type character.
They were lucky to sell off the Browse asset for large sum of money, it would appear that they are happy to sit tight and virtually do very little but to enjoy the spoil themselve for the next 5 to 10 years by means of drawing monthly pay cheque.
Very little will happen this year or next year (a bit buy back just to show the market that they are not fully asleep at the wheel), after the drilling of the appraisal wells at the end of this year, the project will be mothballed due to low POO, blind Freddy can see that.
With the huge cash pot , they should pursue other opportunity and improve SH value, unfortunately that's s not happening.
Don't be too enthusiastic about this company, the glacier like pace will disappoint you.
This is a friendly advice from a long term shareholder /sufferer.