Disillusioned, page-40

They kept PEL 218 because it was theirs. They pulled out of ATP855 because they judged it was not worth spending ADDITIONAL money to keep.
If you think about it a little deeper, you'll see that Beach's decision to keep PEL218 actually contradicts your own argument. i.e. If Beach were desperate for money, they would have sold it off for the same reasons they withdrew from their drilling commitments in ATP 855, right?
Also, that announcement from 2 years ago - just when the Australian gas crisis was beginning to build - speaks about progressing the project when prevailing market conditions warrant it. If the current prevailing conditions don't warrant drilling 4km down for gas, they never will.

And if prevailing market conditions don't have anything to do with the value ATP855, what does exactly?