Ann: Suspension Update, page-19

I have owned the shares for 3 years and from what I can see, they have done several things poorly:

1/ Negotiations about selling the stake clearly turned Woodside off. They didnt know what price they wanted and generally acted like doorstop 'we can do you a deacon your energy supply' types.

2/ They haven't explained to shareholders, what the aim is, the seem to think getting large companies to pay to drill their acreage is a business model, despite their recent experience.

Small companies can get good acreage, but the lesson is, don't pretend to have competence in areas you don't.
They should have had either a monetisation route in the initial contract or a royalty + cash.
Then move on. They had delusions of grandeur and just irritated and got in the jv way.

Despite the heart warming pictures of school's that we fund, I think the MD has to accept responsibility and go.
Unfortunately , because of the way I hold the stock, I cannot vote, but I am rooting for those who vote against the remuneration report + the current directors, Execs + non execs who allowed this to happen.

Amateurs being highly paid, due to the insights of a geologist about 10 yrs ago.