STO has a bulk of organic projects and doesn’t need the M&A unless totally compelling. It could hoover-up the smaller player for advantage but typically does spend management time in the smaller end of town.
Im ok where we are at the moment and would like to see Barossa restart drilling to remain on the critical patH. I’d also like to see movement on Dorado too: a partial divestment to retain 60%, FID on the existing resources & an active drilling plan in the Bedout basin.
By the WPL assets if it makes sense.
Ann: Dividend/Distribution - STO, page-17
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