The directors that bought big clearly simply got it wrong, they did so when some thought further drilling in tui area would be like hooking fish in a barrel. None of these large stakeholder directors were oil men.
But yes I am confused as to why they didn't adapt and just pay out the cash flow - one must assume a certain pride and arrogance that they (non oilmen that they are) could find better than par alternative oil investments eg Vietnam and Timor Sea.
EL
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