”all for a measly buck...”.
Good point and it has been a bit perplexing to understand why however the answer lies in Bangchak today and honestly why did a refinery company buy it in the first place. I can only conclude that their refining margins were under water and they wanted to get some feedstock and the only field available was Galoc. So the uniformed execs at Banchak buy Nido for Galoc and just as they did their refining margins recovered and they looked at their strategy and said “oops” and start d to sell off. It makes sense with the benefit of 20 20 hindsight. Now they most likely generated tax losses from the sale and walk away happy with hundreds of millions of tax dollars along with one dollar from SGC.
SGC were at the right place at the right time. Their Chairman was heavily involved in Nido back in the day, knew the assets and the people and made the call. Could be the most impactful call in the history of the ASX oil sector.
Time will tell
The Captain
”all for a measly buck...”. Good point and it has been a bit...
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