These guys must do nothing but generate slick presentations. The...

These guys must do nothing but generate slick presentations.

The whole offshore wind idea has been shown to be just fluff and an attempt to distract shareholders from the reality that Cliff Head has to be decommissioned at a huge cost to both Pilot and TEG

Then it was all about massive offshore wind – oh they forgot to mention that there is no framework in place for doing this in federal waters and the attempt to appear that having oil & gas exploration rights meant that they somehow had rights to install wind turbines was just another attempt to cloud reality.

Take 2 – Now they announce a “Blue Hydrogen consortium” AND the market has suddenly woken up to the rubbish being spouted. Blue hydrogen needs lots of gas and Warrego doesn’t have lots of gas – problem.

No talk about the big offshore wind project anymore.

Today’s presentation now shows three turbines in state waters – what happened to all that wind generation in the federal waters? Anyone who can smell a rat has really got a full nose of it recently.Those who can sieve fact from non-reality are rushing to the exits and we are seeing TEG down and PGY falling.

TEG is a story of shareholder funds being eaten up with executive salaries. No drilling, no excitement and a loss-making oil operation that has a huge decommissioning liability. Don’t be sways by the slick presentation

By the way, if you believe TEG is a play on oil price then you would be better putting your money into HZN. Good management, good producing assets and – they return money to the shareholders.