Snout,
BPT Management/Board of Directors do have a "track record" for offshore exploration wells drilled over the last few year:
-Hurricane: dud exploration well offshore Western Australia
-NZ: dud (non-commercial hydrocarbons)
-Fermat: dud (expensive dry hole) and Operator
-Peejay: dud (expensive farm-in and dry hole) and Operator
-Egypt: dud and dudder (expensive dry hole and sidetrack).
All up that is about $100M of Beach shareholder money (before tax).
Cheers
did nelson sell out too cheaply??, page-14
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