Buddy you post too often for me to bother to read them all. But...

Buddy you post too often for me to bother to read them all. But a recurring theme seems to be that you consider the Beach to only have made a profit from buying and selling assets rather than production. IMO that is a logical path for a junior oiler to build an asset base. Rather they keep investing than sit on piles of cash as a couple of my other junior oilers do.

The Beach made a huge investment when they outbid Santos for Cooper Basin assets. They saw the opportunity and went for it and now (after a number of very long years for investors) have paid off all their debt. They continue to make what seem to be bold investments. Until they get lucky with another one or two of these the share price will languish, but their history is beginning to show that fortune favours the confident, if only occasionally. As Gary Player used to say the more I practice the better my luck gets and share holders hope that applies to Beach Energy. They made a very tidy sum on their coal seam gas assets to favour development of potentially larger shale gas and conventional oil opportunities. As I am doubtful about the environmental effects of shallow coal seam gas recovery I think this was also a good decision.

I like the Beachs confident energy strategy but share everyones disappointment with the share price. As all close observers of the market know, share price over the last few years has little to do with management or company fundamentals.