Ann: Prospectus, page-6

JD, I understand that stx didn't want to incur any development costs in an offshore csg play - possibly in readiness for what they believe is an imminent TO bid from suitors - but surely more value would've been derived by offering TPD a couple more cents and including gurvantes in the deal. Then they could've sold gurvantes in a timely manner, no fire sale, and realised a better return for the consolidated entity? If Gina was ready to pounce, Gurvantes on the books wouldn't have stopped her. WGO's Spainish assets wasn't a deal breaker. At worst, Gina could've arranged her own fire sale.