mini double bottom, page-20

Yes, but ~2-3cps value was in anticipation of Hawkeye-1 results......which was a fairly temporary value.

Interesting time for board/management.
Prior to the Alaska entry, and factoring in the BHP payment/H-1 costs savings, they had USD48m cash to play with. Thats AUD66m / 5.6cps
Spent USD14m on Alaska, market wiped it from the market cap.
Spending up to USD17m on GOM, market wiped it from the Market cap, even before they've spent it, and they may only spend $5m on the first well and walk away if its a duster....

End of the day, its their job to create shareholder wealth. Reason for the Galoc sale and cap return was the market wasn't reflecting the value of the assets in the sp.
So now we're entering into new assets that the market hates even more, or seems to going by the sp reaction.

Interesting to see how it plays out over 2016. Will these recent purchases make them look like geniuses in hindsight, like with the well timed Galoc sale....?