I've had chats where the position of returning to shareholders and then letting them make the choice in relation to reinvesting has been raised. I get the impression that they will take any reasonable opportunity to make a return to holders. I don't necessarily agree with that i.e. the BYE distribution versus being fully funded for current exploration/development....but ultimately as long as net value is created then it is a reasonable strategy. Effectively a purely financial approach to asset management versus the traditional oil and gas empire building approach.
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