So, in about 40 years of buying and selling mining and oil/gas stocks, this seems an apt time to reflect.
I can't recall that I've ever seen a company do such an amazing job of striking one of the oil finds of the decade....to then comprehensively blowtorch the whole lot in a fire sale and thereby realise only a few pennies on the dollar.
The only positive note is that there is no carbon tax. Because, if there was, the carbon tax on what has gone up in smoke would mean the shareholders would have to pay to get rid of the billowing clouds of smoke.
Extraordinary. Someone please acknowledge this simply unrivalled performance at the upcoming General Meeting.
Rosco
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