Back in the day, around ‘06-‘07 when they farmed out Browse to...

Back in the day, around ‘06-‘07 when they farmed out Browse to ConocoPhillips, Hosking was blowing that the field would be producing gas around 2013 and Karoon would still hold up to 10% which would bring his number 1 priority into play, that of course being creating value for shareholders. Hasn’t that worked out well. Browse still not producing, Karoon no longer there and company blew the spoils from the sale buying back shares at 4 bucks and drilling dusters. 600 mil sale of the shareholders asset, and not one cent returned to the owners who funded it in the first place.

The market woke up to them and it has gone south ever since. This so called New Board is sailing the same course but on a larger scale. They will need every barrel of that 30,000, if they ever get that, plus huge amount of debt to bring these other fields onto line, that is of course if there is an actual commercial quantity of oil there. That remains unproven at this stage. Therefore there will be no dividend for many, many years imo.

They are spruiking the same crap imo as the the previous mob, while ever they are retaining their salaries and lurks they couldn’t give a rats about the shareholders, they continue to dress old mutton up as lamb knowing that there’s always some new mug out there to cheer them on, throw more cabbage at them in their capital raisers as well as some old ones who are way to dumb to get it, sitting on the mail box waiting for the postman to show up with huge divi cheque. There was some turkey on here recently who actually believed, because there was a broker obviously wanting out, rated it at $5. Wonder if Lucas, CEO and Goro topped up on that piece of rot. Probably!!!!