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28/07/23
13:08
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Originally posted by SkyPunter:
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Been on this ride before. Here comes the main event - The thing we have been waiting for (Waylering Gas Production and sky high domestic gas WA prices ~$11Gj) Then comes in Money bags and says "Hey you have a good thing here, How about I offer you 30% extra right now." Money bags has cash in the bank and time to wait on revenue for this asset. They want cash now and are happy to take that profit from the project and depart now. They take the 19c x 30% which ~25c for Waylering thinking - Yeah I gotta good deal. Nah nah nah nahhhhhh. They just sold ~$8Gj Waylering +$150m REV 2P GSA for $157m They gave away for free Waylering 2C gas which is yet to be determined. 25% Triangle JV permit L7. 100% Condor. FROR STX JV Ocean Hill. Even at 25c which is unlikely in my opinion these assets are being given away. I hold STX - if STX want to take TPD out they should pay fair price. Please people DYOR.
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And I can see a repeat of what happened with NWE; BOD & mgmt swayed by their performance rights and options conversion and not acting in the best interests of the wider shareholder group. Walk away with millions and the rest of us get nowhere near fair value...